Steps Of Money Laundering
The stages of money laundering include the: Placement Stage. Layering Stage. Integration Stage. Oct 30, 2017 - Placement, layering and integration, three steps used to transform 'dirty' money to clean funds not easily traceable to alleged illegal activity.
In this, the first stage of money laundering, the goal is to run illegally-earned money through the financial system. Money launderers do so in several ways, including:. Disbursing money through multiple bank or brokerage accounts, at smaller amounts.
3 Steps Of Money Laundering
Buying multiple, and using the money orders as legitimate cash. Slicing the entire cash amount into smaller amounts, and funneling it through the financial system in creative ways.
For example, a money launderer can take $25,000 into a casino, exchange it at various cashier windows for chips, place a few hands of poker for an hour, and turn in the chips for cash, and leave the casino with untraceable cash. Buying up with illegal cash, then selling the property quickly to obtain a legitimate source of cash. Setting up shell companies to hide illegally-gained assets.2.
5 Steps Of Money Laundering
The European Union’s Fourth Anti-Money Laundering Directive (4AML) came into force on 26 June 2015 and will be implemented by 26 June 2017.