Timeline for Could you explain the concept of money laundering in simple terms?
Current License: CC BY-SA 4.0
6 events
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| Mar 14, 2023 at 8:29 | comment | added | Shadur-don't-feed-the-AI | @TimRichards Of course, if you do this on a regular basis your broker is going to get suspicious pretty quickly, at which point they're in the unenviable position of having to check with their legal advisor as to how big a liability they're running if they keep pocketing the money they now suspect is dirty without reporting it... | |
| Oct 29, 2022 at 15:21 | comment | added | Tim Richards | So you pay for your car insurance with cash, simply turn up at the broker and hand over $500. A week later, you go back and tell them you want to cancel the policy. The broker says "ah, time on risk is $20 and there's a cancellation fee of $50".....at which point he writes you a nice clean cheque for $430. That money has no dodgy associations as you can verify its source. You've just turned $500 iffy money into $430 clean money. | |
| Feb 26, 2020 at 21:09 | comment | added | ohwilleke | @SergeyZolotarev "How exactly do you do it?" We aren't in the white collar crime training business. "What's the difference between "dirty" and "clean" money?" Dirty money is money from an illegal source or from a source not allowed to be used for the purpose in question (e.g. undisclosed money from a foreign government given to a political campaign in violation of campaign finance laws). | |
| Feb 25, 2020 at 8:15 | comment | added | Dale M♦ | Did you read the link? It explains several ways. | |
| Feb 25, 2020 at 7:36 | comment | added | Sergey Zolotarev | How exactly do you do it? What's the difference between "dirty" and "clean" money? | |
| Feb 25, 2020 at 7:31 | history | answered | Dale M♦ | CC BY-SA 4.0 |