How are huge amounts of money laundered?

Question

I understand how money laundering works for smaller time criminals, buying some cash heavy business, mixing in the illegal cash with legit profits, etc… But how large scale criminals like major drug traffickers and such can launder 10s or 100s of millions I don’t understand. The conventional front business method seems like it would require an unreasonable amount of stores to handle that kind of volume.

In: Economics

Answer 1

It seems mostly by having banks facilitate it all. The banks are the defense. They report suspicious activity. If the bank looks the other way, the activity is never reported.