I know money from drugs, robberies, stolen goods, etc is “dirty” but, how does anyone know it’s dirty? Why can’t you just spend your money?
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transactions of more than 10k are reportable.
living large without a source of income will eventually get some attention, theoretically.
Used to be you could have a lot of money in a caribbean bank and use a credit/debit card to eat out, go shopping, but they plugged that loop hole.
so laundering money is a way of making the funds appear to be from a legit source. Look at Tony Soprano, he had a no show job at the refuse company, but he still had to keep a low profile with public spending to not be obvious.
There was a story my friends told, some coke dealers in san fran opened a pizza place for walk in, to go only by the slice… but it was so popular they were making too much money to dump thousand more into. (on the flip side of that, a very tony men’s fashion store, Wilkes Bashford was the single most profitable retail shop in the country, way and above 2nd place by over twice as much. that set off red flags in multiple federal agencies…but surprise not only was it actual profit on sales they even found some minor under counting.)
A local friend was doing some sorta legit laundering. He was a contractor/builder. First he was setting some of the new pot shops in town. They had a problem, lots of cash but banks were shy of accepting it. He had no issues with taking a suitcase of cash, paying a lumber yard and various trades for the electrical, plumbing etc and he built some town houses, sold them, now the pot shop has income from a federally legit source.
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