Home »  Magazine »  Business »  Through The Wringer

Through The Wringer

Money laundering introduces illegal money into the financial system with an eye to recover some or all of it as clean money later. A Bank of England committee on money laundering has reported a three-stage pattern, often overlapping.

Through The Wringer
outlookindia.com
-0001-11-30T00:00:00+0553

Placement: Physical disposal of cash proceeds from illegal activity. Cash can be paid into a bank, often mixed with proceeds of legitimate business, exported, or used to buy high value goods, property or business assets.

Layering: Separating the proceeds from the source by creating complex layers of transactions to disguise the audit trail and provide anonymity. Like wire transfers abroad, using shell companies; cash deposits with an overseas banking system; reselling goods and assets.

Integration: Providing legitimacy to criminally derived wealth, through false loan repayments or forged invoices. A web of domestic and international transfers makes the source hard to trace.

READ MORE IN:

Post a Comment


You are not logged in, To comment please / Register
or use
Next Story : Lockout At Dhobi Ghats
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
  • PHOTO
  • NEWS
  • BLOGS
  • LATEST
Online Casino Betway Banner

Advertisement

OUTLOOK TOPICS :

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9

or just type initial letters