Timeline for Could you explain the concept of money laundering in simple terms?
Current License: CC BY-SA 4.0
12 events
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| Mar 14, 2023 at 14:55 | comment | added | Philipp | @gnasher729 The purpose of money laundering is not to avoid taxes. It is to provide a reasonable explanation of where illegally obtained money comes from. Which usually involves paying taxes for it. Better to have 850,000€ in clean, taxed money than one million € in cash you can't explain where it comes from. A particularly greedy criminal might try to launder money through a channel that's tax-exempt, but that's probably a lot harder to pull off. | |
| Mar 14, 2023 at 14:51 | comment | added | gnasher729 | Money laundering through restaurants etc. obviously means that the restaurant will end up with profits that will be taxed. | |
| Mar 14, 2023 at 14:45 | comment | added | gnasher729 | In Germany, when you buy a house, or an expensive car, the German Inland Revenue will look at the purchase price, and at your tax returns, and if they think that you don't have enough money according to your tax returns, they will investigate. Lottery or game casinos where you could gain a large amount of untaxed money legally will give you a receipt. | |
| Feb 26, 2020 at 15:41 | comment | added | Roger | This is somewhat off-topic for this site, but if you could add a link to some citation for the notion that the term arises from the use of literal laundromats, I'd really appreciate it. | |
| Feb 25, 2020 at 20:01 | vote | accept | Sergey Zolotarev | ||
| Feb 25, 2020 at 12:31 | history | edited | Philipp | CC BY-SA 4.0 |
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| Feb 25, 2020 at 9:49 | history | edited | Philipp | CC BY-SA 4.0 |
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| Feb 25, 2020 at 9:38 | history | edited | Philipp | CC BY-SA 4.0 |
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| Feb 25, 2020 at 9:33 | history | edited | Philipp | CC BY-SA 4.0 |
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| Feb 25, 2020 at 9:21 | history | edited | Philipp | CC BY-SA 4.0 |
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| Feb 25, 2020 at 9:15 | history | edited | Philipp | CC BY-SA 4.0 |
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| Feb 25, 2020 at 9:03 | history | answered | Philipp | CC BY-SA 4.0 |