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Baltimore Hokie

Joined: 03/23/1999 Posts: 38255
Likes: 8549

What's this?

I found this on Wiki


"Reverse money laundering is a process that disguises a legitimate source of funds that are to be used for illegal purposes. It is usually perpetrated for the purpose of financing terrorism but can be also used by criminal organizations that have invested in legal businesses and would like to withdraw legitimate funds from official circulation. Unaccounted cash received via disguising financial transactions is not included in official financial reporting and could be used to evade taxes, hand in bribes and pay "under-the-table" salaries."

I think this covers it.

(In response to this post by Hokie Bird 94)

Posted: 04/17/2019 at 1:42PM


+1

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Current Thread:
 
  I guess I don't understand what all is categorized as 'money laundering' -- Baltimore Hokie 04/17/2019 11:08AM
  Hijack: I'm not sure I'm a fan of adding a charge simply because she didn't -- Gator Hokie 04/17/2019 2:40PM
  Challenging the feds usually does not work out well ** -- fordham 04/18/2019 11:21AM
  Anti-shun -- EDGEMAN 04/17/2019 2:31PM
  I got you -- PF 04/17/2019 1:15PM
  +1 ** -- HokieDelNorte 04/18/2019 4:53PM
  Right, that's what I described in the OP ** -- Baltimore Hokie 04/17/2019 1:34PM
  They knowingly funded at the start of the chain ** -- bigbadbird 04/17/2019 11:52AM
  "intent to conceal the source" perhaps? -- Hokie Bird 94 04/17/2019 11:37AM
  I found this on Wiki -- Baltimore Hokie 04/17/2019 1:42PM
  Michael Bolton agrees. -- MP4VT2004 04/17/2019 11:41AM
  What's your favorite song by him? ** -- Will Stewart  04/17/2019 1:49PM
  My vote... -- Twelfth Man 04/18/2019 09:29AM
  MP4 celebrates his entire catalog. 😁 ** -- Hokie CPA 04/17/2019 1:55PM
  I celebrate the guy's entire catalog.** -- vt90 04/17/2019 1:54PM
  Take 10,000 into a casino and get chips -- Technocrat 04/17/2019 11:25AM
  Federal law requires casinos and card clubs to report currency transactions ** -- UTPr0sim 04/17/2019 10:22PM
  More inside -- UTPr0sim 04/17/2019 10:22PM
  I don't think it's the fact that the original money is dirty. -- ElbertoHokie 04/17/2019 11:24AM
  It's entirely and 100% different -- Beerman 04/17/2019 11:29AM

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