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
Good question, and the FBI has some questions for you too if you have specific details about how they do this.
When you’re talking international criminal activity you’re also talking about entire fake/shell companies. This isn’t Al’s Cash Only Jersey Style Beef and Money Laundering restaurant, this is Panama International Shipping LLC, based in Barbados, and operating a fleet of cargo ships flagged in The Ivory Coast.
87 cargo ships. Well, 47 real ones and 40 that exist only on paper and in faded paint on rusting hulks in a Russian scrapyard.
But we claim profits from all of them, and the taxes are paid in Macau for some reason. Probably. The government officials we pay to say that will tell you it’s all very legitimate.
Latest Answers