Organized criminal activity is endemic to much of the world. Whether in the form of drug trafficking, fraudulent activity or scams, no market is immune from the threat. And wherever there is organized criminal activity, there are illicit funds making their way into the financial system.
While banks and financial institutions have borne the brunt of penalties related to money laundering activities, criminals use a variety of legitimate business activities to conceal the source and destination of illicit funds. PDF Download, 11 pages.
Understanding how money laundering works and popular tactics can help legitimate business operations avoid becoming vehicles for the laundering of criminal proceeds.