What are the 4 stages of money laundering?
- Placement (i.e. moving the funds from direct association with the crime)
- Layering (i.e. disguising the trail to foil pursuit)
- Integration (i.e. making the money available to the criminal, once again, from what seem to be legitimate sources)
What are the best businesses to launder money through?
Laundering Money Through Cash Businesses
Cash businesses, including car washes, laundromats and strip clubs, are favorites of money launderers. Although these common companies have legitimate operations, they can operate partially or mostly as shell companies whose real business is to launder illegal funds.
What is the most common business used to launder money?
A business that legitimately transacts large amounts of cash, for example, restaurant, grocery, car washes or taxi companies. Money launderers can use the account to deposit both business proceeds and illegally obtained money.
How does money laundering work in real estate?
Money laundering through real estate integrates illicit funds into the legitimate financial system while also providing the criminal with a relatively “safe” property investment. This can include the purchase of houses, apartments, office space, factories, hotels, vineyards, etc.