Money Laundering And Its Effects On The World - 2534 Words

Arvon Lunsford Professor Kuchta ENGL 102 15 November 2016 Money Laundering In todays world there are so many different ways to commit a crime. You might not even realize it, that it could be a family member or even a really close friend committing these crimes. I am talking about a white collard crime called Money laundering. Have you ever wondered what Money laundering really is? With this research paper, you will get a chance to finally learn what it really is all about. You will get an inside look into Money laundering. From their we will learn about the types of people that commit this type of crime and why. Then we will look into how they ended up getting caught. After that we will take a look into all the cases against the people and corporations that were caught red-handed laundering money. Now that I have caught you’re your attention, you are probably thinking to yourself; â€Å"What is Money laundering?† Money laundering is a term that â€Å"refers to the activities and financial transactions that are undertaken specifically to hide the true source of the money† (IRS.GOV) that you have received. This is usually happening when you are receiving your money illegally and trying to show that you are receiving the money from actual business type situations. A great example would be a drug dealer receiving all of his money from selling drugs and then turning around and saying he is receiving the money from a fake storefront or even from construction. When in reality they do notShow MoreRelatedMoney Laundering Essay1059 Words   |  5 Pages â€Å"Money laundering†, is a term that is often used in association with illegal activities, especially in terms of terrorist actions. 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The world Bernard Madoff offered to his investorsRead MoreEssay on money laundering2736 Words   |  11 Pagesnbsp;nbsp;nbsp;nbsp;nbsp;Money laundering is the routing of illegal profits from bank to bank to disguise its existence. The illegal profits are usually made through activities such as drug trafficking, prostitution rings, illegal arms sales, and various other t hings. Unfortunately money laundering is a serious crime that is still prevalent in the United States and other countries. The Russian mafia, the Triad or Chinese mafia, and the Columbian drug cartel are just a few of the groups that partake in money laundering