NCJ Number
126418
Journal
Insight Volume: 5 Dated: (August 21, 1989) Pages: 8-17
Date Published
1989
Length
10 pages
Annotation
The multimillion-dollar money laundering operations of the drug profits and the Federal busts against money launderers are discussed, in particular, the 13-month sting operation, Polar Cap, which culminated in March 1989.
Abstract
Drugs are a very big business and hundreds of millions of dollars in cash has to be hidden daily and laundered into legitimate income. Following the money trails that dealers leave behind and then bankrupting the dealers once they are found is emerging as a major focus to the antidrug effort. The laundering operations employ a global network of legal and financial experts, some in high places. The various Acts which have allowed the Federal government to develop a systematic attempt to track the flow of large cash deposits and international money movements are discussed. The smuggling of cash out of United States is becoming "the method of choice" and the cash's international destinations are listed along with the methods of getting it back into United States. The importance of international cooperation is discussed as the critical element needed to stop the flow of cash, laundered or dirty. (Author abstract modified)