Question:
How would you launder money?
Franko Rizzo
2008-11-20 12:47:49 UTC
If you had a huge stack of money, like a pile as big as your bed (10 million or so), how would you launder it? Would you just buy everything in cash and hide it in your house? It would be tough to try to deposit it. And you likely wouldn't have any connections to launder. This is tough...what would you do?
Nine answers:
Michael K
2008-11-20 12:53:04 UTC
The basic money laundering process has three steps:



Placement - At this stage, the launderer inserts the dirty money into a legitimate financial institution. This is often in the form of cash bank deposits. This is the riskiest stage of the laundering process because large amounts of cash are pretty conspicuous, and banks are required to report high-value transactions.



Layering - Layering involves sending the money through various financial transactions to change its form and make it difficult to follow. Layering may consist of several bank-to-bank transfers, wire transfers between different accounts in different names in different countries, making deposits and withdrawals to continually vary the amount of money in the accounts, changing the money's currency, and purchasing high-value items (boats, houses, cars, diamonds) to change the form of the money. This is the most complex step in any laundering scheme, and it's all about making the original dirty money as hard to trace as possible.



Integration - At the integration stage, the money re-enters the mainstream economy in legitimate-looking form -- it appears to come from an legal transaction. This may involve a final bank transfer into the account of a local business in which the launderer is "investing" in exchange for a cut of the profits, the sale of a yacht bought during the layering stage or the purchase of a $10 million screwdriver from a company owned by the launderer. At this point, the criminal can use the money without getting caught. It's very difficult to catch a launderer during the integration stage if there is no documentation during the previous stages.



It would take awhile to move that much money. $10,000,000 in US currency would weigh about 2,560 lbs!



I hope that helps.
2008-11-20 12:52:22 UTC
Build a secret underground vault and keep the money in there. The trouble with laundering money is that the mob has most of those businesses already owned to launder their own money and you don't want to get their attention by competing.
Shamma
2008-11-20 13:03:32 UTC
Answering this question perfectly is not possible unless we know the country you live in. Basic technique for perfect launderingof money is to buy/ spend money on items which are not tracked by revenue. Example; if you buy a house in India, you are immediatly tracked and get a notice to prove sources of funds.



Buying every thing in cash is not the answer as Revenue may ask you for sources through which you and your family sustained. Yes, luxuries (which are not tracked, as dining out)can be bought in cash.



You may not be able to deposit in bank as in most countries Revenue is able to tracj bank deposits to your income tax return.



It therefore, is tough to answer the question undless we know the country and its laws. Generally most of the countries have some loopholes in the economic system which allow you to spend unexplained money or to get in banking system through some route such as "earning tax exempt incomes"



You may explore showing income in the names of family members as they may be able to get initial exemption- however thistoo would vary from country to country
jmorge
2008-11-20 12:53:38 UTC
to properly launder your money use the "gentle" cycle, do NOT use hot water (use cold water only) and don't use bleach. I've found that Tide is best (colors don't fade as much) but probably whatever you have already will work fine.
djogkoji
2008-11-20 12:54:39 UTC
Money laundering is a criminal offense. Most criminals get arrested by laundering money through illegal loans or gambling venues.
ninja.bassist
2008-11-20 13:00:17 UTC
As jmorge said:



Cold wash, gentle cycle. If I could add, however, it's best to hang dry your money and not be tempted to get rid of wrinkles by using the tumble drier. If you must iron, place the money between two decent thickness towels and iron as normal.
IJToomer
2008-11-20 12:57:09 UTC
I would probably use the gentle cycle. With Woolite and a nice lavender fabric softener.
San
2008-11-20 12:51:35 UTC
I guess I would find a place to stash it, I would buy everything in cash. That would be so nice.
2008-11-20 12:54:06 UTC
LOL, thinking about starting a mob or crime family are we?



http://extracash.weebly.com/


This content was originally posted on Y! Answers, a Q&A website that shut down in 2021.
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