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C&S - Bite size update - Money Laundering (theory only!)

CHES&STAFF01CHES&STAFF01 Well-KnownRegistered Posts: 107
30th March 2011
AGM & Money Laundering – The Theory

Money Laundering is defined as the practice of disguising the origins of illegally-obtained money. Ultimately, it is the process by which the proceeds of crime are made to appear legitimate. The money involved can be generated by any number of criminal acts, including drug dealing, corruption, accounting and other types of fraud, and tax evasion. The methods by which money may be laundered are varied and can range in sophistication from simple to complex.
This topic is always a tricky one to publicise – there is always the comment about whether you are trying to show someone how to money launder or how to deter them !
Our speaker Trevor Faulkner definitely deterred us – with a jail sentence of 14 years if found guilty or a shorter sentence if found guilty by association it shows that crime does not pay.
More information on this subject can be found at www.hmrc.gov.uk/nav/laundering

Comments

  • blobbyhblobbyh Font Of All Knowledge Registered Posts: 2,415
    Sorry but the page that links to cannot be found or has been moved!

    Would love a user friendly link from anyone to this topic.
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