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How dirty money gets clean
Akhbar Satar | 04 Aug 2017 00:30
One of the ways of turning dirty money into legitimate money is through money laundering. This is the process of converting dirty money derived from illegal means so it appears legal. Basically it is the introduction of illegally obtained currency or proceeds into the banking system and using the system to hide currency that was unlawfully obtained.

Money is the prime reason for engaging in almost any type of criminal activity. This money is smartly cleaned in order to distinguish its criminal origin and make it appear “clean” and not to have been derived from illegal activities such as drug trafficking, terrorism, fraud, robbery, prostitution, illegal gaming, arms trafficking, bribery, corruption and cigarette smuggling.

In fact, cigarette smuggling is so profitable that it even surpasses the profits of the cocaine trade and is therefore a target for money laundering. In fact, France’s Centre for the Analysis of Terrorism stated that global cigarette smuggling and drug trafficking represent more than 20% of terrorist financing of the groups identified. Fifteen of the world’s leading terrorist organisations regularly turn to black market tobacco for financing. They employ techniques similar to those used by money launderers to hide their money.

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