If no one knows about your dirty money why do you need to launder it

Question

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?

In: 316

Answer 1

No idea about abroad but in the UK you have to explain in boring levels of detail to a bank why it is you need to take more than £10k out in cash and the limit is ~£20k. They have to take photos, get signatures on ‘non duress’ agreements etc. In order then, to buy a car for £100k cash, you would have needed to lie to your Bank five times. Which for HMRC to find out is a simple phone call. Making any purchase of anything of £10k impossible in cash without leaving a snail trail, the absence of which is the easiest thing in the world to track down.