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Money laundering is the conversion or transfer of property; the concealment or disguising of the nature of the proceeds; the acquisition, possession or use of property, knowing that these are derived from criminal acts; the participating in or assisting the movement of funds to make the proceeds appear legitimate. Money obtained from certain ...
Taxation of illegal income in the United States arises from the provisions of the Internal Revenue Code, enacted by the U.S. Congress in part for the purpose of taxing net income. [1] As such, a person's taxable income will generally be subject to the same federal income tax rules, regardless of whether the income was obtained legally or illegally.
Counterfeit money is currency produced outside of the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery, and is illegal in all jurisdictions of the world
The Financial Action Task Force on Money Laundering (FATF), which is recognized as the international standard setter for Anti-money Laundering (AML) efforts, defines the term "money laundering" briefly as "the processing of criminal proceeds to disguise their illegal origin" in order to "legitimize" the ill-gotten gains of crime.
Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its ...
A Son of Sam law (American English; also known as a notoriety-for-profit law) is a law designed to keep criminals from profiting from the publicity of their crimes; for instance, by selling their stories to publishers.
A Vietnamese immigrant and his business partner are fighting to get back more than $100,000 seized by Oklahoma police who allege that it was drug money. There was $100K in the car when police ...
Four years of Biden-Harris open borders and it's time for Trump to fix the crisis of illegal immigration. One way to do it is to tax the money they send back to their home countries.