Why is money laundering necessary?
In: Economics
You are five. You have $500 that you stole or accidentally recieved. Your parents are going to ask why you have $500 on $0 income. Laundering cash is spreading that $500 into many $20 birthday cards to show legitimate income.
Cash income is easier to hide from your parents’ parents, the IRS. If you can show enough birthday card income to cause a reasonable amount of your $500, it could be assumed you earned some from last year’s birthday money, showing less than $500 income
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