The Crime Of Money Laundering

card fraud. In reference to money Laundering we will the complex process of how criminals

Human trafficking has been entwined into the structure of governments, arms trade, drug trade, and even spreads as far as terrorism. For many years it has been a fact that the money that has been made by selling other humans to the highest bidder. It is also known that the organized crime operations generate one of the most profitable resources to the organization. These organizations use this money for theirs or other’s crime and end up in the hands of drug lords. Drug lords, in order to promote their own business give money to support terrorist groups and activities. Security after September 11, 2001 has recognized human trafficking as a national and international security risk.

millions of dollars of structured settlements at a discounted price so that he could generate

When criminals reach this stage, it becomes arduous for investigators to distinguish if the funds are licit or not ( Grosse, 4 ). One of the most famous money laundering scandals in America was the Bank of New York money laundering scandal with Russia. In the summer of 1999, The Bank of New York found themselves in a predicament when they were found as suspects of an international money laundering scandal. The bank laundered billions of dollars to the Russian mafia and Russian politics. In august later that year, the New York Times published their calculations that the bank laundered nearly $14.2 billion dollars to $10 billion dollars that was laundered from Russia passed through the Bank of New York (Block, 3).

In order to successfully launder money three processes are needed: placement, layering, and integration. In the first state, placement, the illegal proceeding are disengaged from direct association with the crime or criminal. In the second stage, layering, the money is used in some legal financial transaction in order to “camouflage” the cash. In the third stage, integration, the apparently legal money is available to the money launder (Kelly, Maghan and Joseph). For better understanding, the fig 1 gives a real life example on how money laundering is done.

U. S has taken a position to implement vital steps to police illegal activities worldwide. Also, using the Law enforcement agencies to find solutions and best practices is critical to stopping transnational organized crime. The United States government plays an important part in this process. They must engage in stricter policies and strategic thinking to fight the corruption of transnational organized crime.

The approach has resulted in countless arrests and sentencing among other types of castigation against crime suspects, although it has provided no hope in curbing the rate of syndicate crimes. Nevertheless, a highly promising and effective alternative to policing involves enhancing awareness on syndicate crimes by emphasizing the main aspects of illegal entities, with exceptional focus on undermining the influence and affluence of illegal investors. This merging objective might be realized by vigilantly monitoring the leading upperworld entities that, when infiltrated, permits criminals to gain and apply ample affluence by espousing legal alternatives in disguise of proceeds and the illicit power (JRank, 2013).

The five wars of globalization are typically defined as drugs, arms trafficking, intellectual property theft, alien or human smuggling and money laundering. Many of these types of crimes can and are used to assist each other, as human traffickers often use the people smuggled as mules for drugs and weapons. To keep below to radar of the world’s governments, all criminals engaged in any of these crimes characteristically engage in money laundering to halt tracking

46. This strategy by and large includes the utilization of genuine organizations with high money turnover, as fronts for lawbreakers to launder the returns of wrongdoing. The sorts of organizations utilized are by and large eateries, bars, correspondence focuses and different sorts of retail shops. The unregulated casual part likewise gives culprits the chance to procure little organizations, for example, second-hand auto dealerships, bars, eateries, gaming houses or land organizations, all of which give secrecy or chances to cover unlawful increases from their criminal birthplace.

Unfortunately, technology today is helping criminals commit money laundering off of their profits made from drug crimes and prostitution in cyberspace and the ease of transportation and smuggling operations. Drug trafficking is associated with organized crime and violence linked to human trafficking and money laundering schemes that can also support criminal activities in several countries including terrorist activities. The increase of technology is allowing people to shop online and is used for the purpose of exploiting pornographic images and the ease of purchasing and transporting illicit drugs and prostitutes from anywhere in the world. Transactions online cause difficulty in tracing criminal operation because they can be located in the

It is due to such ways of legalizing the black money that 
today’s plethora of organized crime groups are becoming more interested in setting up strategic 
alliances with drug cartels and with these alliances now putting the law enforcement
 agencies in more troubled. 
Despite all the advantages enjoyed by today’s organized crime groups, the criminal
 justice system must respond swiftly and proactively to the rise in the degree of threat posed by todays
 organized crime groups. Primarily, if the criminal justice system has to prove its worth and 
effectiveness in checking and preventing the commencement and ongoing of the
 business activities of organized crime groups then it has to be able to support more arrests and convictions
 for illegal operations like drug trafficking, human trafficking, and this can be proven by
 providing the evidence that when a criminal justice system works properly, more arrests and convictions for drug trafficking, that institutional effectiveness 
is able to control organized crime better (Buscaglia & Dijk,

Rewrite)A second form from the seven forms of transnational criminality would be money laundering, which is dirty money that is illegally obtained money that cannot be spent freely. While there is evidence that terrorist weapons have been obtained by direct exchange for drugs, or for “dirty” money, most expenditures by terrorists are for goods or services obtained on the free market, which demands clean cash. Hence, much of the dirty money must be laundered in a vast criminal enterprise called money laundering. Since at least the 1970s, there has been a sustained and increasingly global interest in stopping money laundering. Terrorists financing requirements reflect this diversity, varying greatly between organizations. Financing is required

The fight against money laundering over the last two decades has become an increasingly important task. Although the idea of money laundering has historically been associated with the 1930s and gangsters such as Al Capone and Meyer Lansky, operating under the US Dry Regime, broad public use, the term acquired during the Watergate case investigation mid-70s . It is the law that defines money laundering as a crime that occurs in the 1980s. Since then, many initiatives have been developed and implemented to combat this criminal activity. When discussing the issue, one must take into account the most important economic change of the last few decades - the growing globalization of the world economy and especially the global capital market. Economies

In this day and age, a corporation, family, or individual always has a potential risk of encountering fraud within their money supply. On average, fraud and abuse costs U.S. organizations more than $400 billion annually (Federal Bureau Investigation, 2010). Many may think that white collared crime is only money laundering or stealing, but that is only two out of the sum that countless culprits get away with. The term “white-collar crime,” originally coined in 1939 is synonymous with the full range of frauds committed by business and government professionals (Federal Bureau Investigation, 2010). These frauds include anything from bankruptcy fraud, money laundering, identity theft, corporate fraud to a wide number of threats all circling

White-Collar Crime consists of occupational crime and corporate crime. Occupational crime refers to offences committed against legitimate institutions businesses or government by those with "respectable" social status. It includes the embezzlement of corporate funds, tax evasion, computer crime and expense-account fraud. It is not every day that we hear about white-collar crimes but these non-violent crimes are on the rise to the top. Federal Bureau of Investigation states that USA, for example recorded white collar crimes amounting $300 billion every year (Cornell University, 2010). White-collar crime is relatively a new idea. It has many aspects that are practical for study and further interpretation to clear some of its dark areas. White-Collar Crime was once introduced by Edwin Sutherland in 1939 during his speech in American Sociological Society. The following crimes actually performed are Bribery, Extortion, Insurance, Fraud, Embezzlement, Cybercrime etc. People who participate in these criminal activities are highly powerful and respectful among the society. The following activities include description about White-collar Crime, Investigation of White Collar Crime and The Consequences of committing a White-collar Crime.