The legalization of illegally earned money is called money laundering. The article briefly describes the stages of this process and the most well-known schemes. Money and banks are always involved in such transactions. Schemes can be very different. Everything depends on the influence of the representatives of the firms that are involved in it. The use of the Internet, a global means of communication, in the business sphere, enables enterprises to introduce new ways of implementing this process.
It all started with the arrest of one of the most famous "godfathers" of the Al Capone Mafia. Meir Lansky, known by his nickname Mafia Accountant, wished to avoid the fate of this mafia and began to personally develop effective ways of tax evasion. He discovered the main advantages of Swiss bank accounts.
One of the first schemes to launder illegal capital was to conceal such funds under the guise of loans received from a number of trusted foreign banks. They were declared as income items but were excluded from total taxation.
To date, the illegal process of money laundering is considered a social phenomenon. This is a consequence of close cooperation of financial structures around the world, as well as the result of agreements of other responsible authorities, both private and public. For example, art is practically not regulated by law, its prices can be flexible and the buyer can remain anonymous. The vivid example is Yves Bouvier and Freeports. It is also worth remembering that the field of activity presented clearly stimulates crime.
How money is laundered through the bank: the stages of legalization
No matter how money is laundered through a bank, any scheme goes through certain stages. Any money laundering process is consistent with them. The article provides 4 main stages of the presented process:
Illegal extraction of other people's property and money. These can be: various types of fraud, terrorism, corruption, drug trafficking, activities of OCGs (organized criminal groups).
Including illegally obtained funds in the flow of legitimate financial assets.
Transfer of funds to third-party accounts of foreign banks. Thus, illegal assets are far from their owners.
Return of funds under the guise of fully legitimate assets back to all owners of the structure.
There are a great number of ways to legalize illegally obtained capital. Fraudsters and other criminals come up with increasingly sophisticated and intricate schemes to deceive the state and the people living in it. Unfortunately, this problem remains relevant even in today's world.
In order to implement such stages and make them as safe as possible, the interested persons resort not only to fraudulent tricks, but also to force methods of influence on other people. Very often a lot of connections in state financial structures are involved in the process.
Various bank frauds are also involved. For this purpose, most often a lot of bank accounts and credit cards are issued. However, in this case a lot depends on the employee of a particular bank. Fraudsters can be simply denied the service of registration of such elements. The way out of this situation is the use of modern technology. Credit cards in our time can easily be issued in Online mode through a lot of fake persons.