0
Source of money, if illegal, requires laundering. Hence the source of money is the cause for money laundering.
To disguise the link between a crime and its proceeds
Wiki User
∙ 6y ago
Add your answer:
Earn +20 pts
Why would someone launder money?
Here's a scenario in which one would want to launder money: I've just robbed a bank. I took $10,000. But that $10,000 can't just appear in my bank account, can it? It wouldn't make any sense, and the police would find out I'd robbed the bank. So, I launder the money. I give it to my rich grandpa, and grandpa gives it to me as a "christmas present." Now I have the money, and the way I got it makes sense, so the police suspect nothing. And that is why people launder money.
What is the main motive for money laundering?
I'll start with money laundering is illegal so this is NOT an endorsement that you should do it. The reason people launder money is to make money earned from illegal activities (e.g. drugs, casinos) appear to be earned from legal ventures. At a small scale, it's unlikely the IRS or financial institutions will ask where the money comes from; however, larger organized crime rings have a lot of money earned from potentially illegal activities which can't go into banks with them asking questions and/or reporting the size of the transactions to the IRS. By 'laundering' the money thru a legitimate enterprise, it allows them to put the money in a bank and use it without questions asked of where it came from.
Is credit card factoring sometimes known as credit card laundering?
Credit Card Factoring is indeed sometimes known as credit card laundering and even at times may be called money laundering. These two names mean to launder money by use of credit cards often times through businesses.
Why do banks loan people money?
The banks loan people money because it is how banks earn money. The bank will loan out the money to people, and the people will have to pay back with interests so the bank will be making money by just loaning people money. That is why the banks owners get so rich. They will loan out money to a lot of people and they will put a high interest. When they get the money back, they will earn money without even doing any work.
Where do people keep there money?
Most people keep their money in banks.
Why would someone launder money?
Here's a scenario in which one would want to launder money: I've just robbed a bank. I took $10,000. But that $10,000 can't just appear in my bank account, can it? It wouldn't make any sense, and the police would find out I'd robbed the bank. So, I launder the money. I give it to my rich grandpa, and grandpa gives it to me as a "christmas present." Now I have the money, and the way I got it makes sense, so the police suspect nothing. And that is why people launder money.
Where can you launder money?
From a book you cut open to a bank overseas.
How can money laundering be controlled in the Tri Border area?
Place government agents at ALL laundromats. Lets see them launder their money then..
When was Simon Launder born?
Simon Launder was born in 1978.
Why have the 500 euro banknotes been withdrawn from circulation?
Because they were being used by criminal gangs to launder large sums of money.
When did Frank Launder die?
Frank Launder died on February 23, 1997, in Monte Carlo, Monaco.
What has the author Chris Launder written?
Chris Launder has written: 'A comparative evaluation of electronic journal aggregators' services'
When was Frank Launder born?
Frank Launder was born on January 28, 1906, in Hitchin, Hertfordshire, England, UK.
Where do you find the dirty bra for Mafia Wars on Facebook?
You have to look for money laundering links in your live feed. once you see one, click it. the popup says launder money or quit. if You click quit, you will be able to launder money 5 times before the feds are after you about every 3 times you click a money laundering link from your live feed you get a money laundering item the bra is not especially seldom so after a few days you should've gotten it So.. to get the bra as fast as possible, just keep an eye on your live feed and click all the money laundering links. but remember to click quit on all of them (except the fifth, where the fed will get after you no matter what, so why not launder some money anyway) when the fed are after you, you'll have to wait approx. 24 hrs to start over again
Can you Unscramble this word dralune?
"Launder".
What does draleun spell?
The anagram is launder.
Does Taylor launder have a girlfriend?
no. He is single.
