White | White-collar crime definition
MoneyLaundering Moneylaunderingisturning“dirty”money“clean”bymakingitlooklikemoneyfromcrimesactuallycamefromlegitimatesources.Moneylaunderingallowscriminalsto:hideandaccumulatewealthavoidprosecutionavoidtaxesincreaseprofitsthroughreinvestmentfundfurthercriminalactivityTheFBIfocusesitseffortsonmoneylaunderingfacilitation—targetingprofessionalmoneylaunderers,keyfacilitators,gatekeepers,andcomplicitfinancialinstitutions,amongothers.Criminalswhoengageinmoneylaunderingderivetheirproceedsthrough:...
Money LaunderingMoney laundering is turning “dirty” money “clean” by making it look like money from crimes actually came from legitimate sources.
Money laundering allows criminals to:
hide and accumulate wealthavoid prosecutionavoid taxesincrease profits through reinvestmentfund further criminal activityThe FBI focuses its efforts on money laundering facilitation—targeting professional money launderers, key facilitators, gatekeepers, and complicit financial institutions, among others.
Criminals who engage in money laundering derive their proceeds through:
Complex financial crimesHealth care fraudHuman traffickingInternational and domestic public corruptionNarcotics traffickingTerrorismCriminals use a number of tools to launder money, including:
Financial institutionsInternational tradePrecious metalsReal estateThird party service providersVirtual currencyThere are three steps in the money laundering process—placement, layering, and integration:
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