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Dirty Money - Recognizing Laundering Schemes

NCJ Number
C H Morley; S HowardMorley C H
Date Published
0 pages
Designed for law enforcement professionals, this videotape explains the mechanics of simple and complex money laundering schemes, methods of getting money out of the country, and laundering as a means of concealing white-collar crime.
The narrator initially defines the terms money laundering and paper trail. Using examples, three basic elements of a money laundering scheme are described: smuggling money out of the country, agitating it through a foreign-based company, and returning it to the United States as legitimate profits. The videotape also explores complex laundering schemes, emphasizing that smuggling is the most critical and vulnerable phase. After reviewing the Bank Secrecy Act which imposes a paper trail on large currency transactions through reporting requirements, the videotape describes common methods of smuggling money out of the country. Ways that narcotics dealers use financial institutions to launder money are examined, including purchasing banks and nationwide courier systems that make deposits under $10,000 in many banks. Abnormal banking operations that might indicate laundering are identified. A major white-collar crime case is presented to demonstrate laundering methods being used to conceal large-scale fraud. The videotape emphasizes that while such cases are hard to solve, they are not impossible for investigators who are familiar with indicators of a laundering system.


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