Search results
Results from the WOW.Com Content Network
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
Some examples include human trafficking, money laundering, drug smuggling, illegal arms dealing, terrorism, and cybercrime. Although it is impossible to precisely gauge transnational crime, the Millennium Project, an international think tank, assembled statistics on several aspects of transnational crime in 2009: [18]
Since 2001, law enforcement has become more concerned about money laundering that helps fund terrorist organizations, which raises the stakes for identifying and arresting smurfs.
Small business owners should not forget about a rule — currently in legal limbo — that would require them to register with an agency called the Financial Crimes Enforcement Network, or FinCEN ...
Bank – the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. [5] The term applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft.
Advance efforts to increase prosecutions in cases of complex schemes of money laundering and related crimes. Promote strategies to increase seizures in cases of money laundering and related crimes.
Anti-money laundering (AML) refers to a set of policies and practices to ensure that financial institutions and other regulated entities prevent, detect, and report financial crime and especially money laundering activities. Anti-money laundering is often paired with combating the financing of terrorism, using the initialism AML/CFT.
The U.S. Justice Department said one of Lindberg’s top executives still awaits sentencing after pleading guilty in late 2022 in a related case to conspiring with Lindberg and others to defraud the United States related to a scheme to move money between insurance companies and other businesses Lindberg owned.