Laundering money is a good way to “clean up” funds that have come from illegal activities or sources by filtering it through legitimate channels. Many drug traffickers, dirty politicians and embezzlers launder money to hide their illegal business activities and draw attention away from themselves. Laundering money is not difficult, as these steps demonstrate.
- Step1: Put the “dirty” money in a reputable banking institution, but make sure the deposits are sensible to avoid creating suspicion. Government and financial-industry regulations require documentation for very sizable deposits or unusual patterns of activity.
- Step2: Create several different accounts under different names and in different countries as a way to filter the money.
- Step3: Begin moving the money through various accounts by wire transfers, bank-to-bank transfers, withdrawals and deposits to mix it with legitimate revenue sources.
- Step4: Spend the money on expensive goods such as cars, jewelry and homes to make the original dirty funds even harder to trace.
- Step5”Put the money back into the mainstream by “investing” in a company for a share of its profits under the table. You can also start your own non-profit organization, or sell some of the goods you purchased for twice their value. By the time this is done, the money has gone through so many hands that it is almost impossible to trace.
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