The Different Ways of Money Laundering

 Money laundering is the act of transacting large sums of cash received from criminal activities, including illegal drug dealing, through the facilitation of an intermediary company. It's also a serious crime in most jurisdictions with differing interpretations. However, it is largely victimless crime thanks to the powerful global response to it. Here are five ways that you can protect yourself from the law and understand how it affects your finances:

Be careful what you buy - Buying things that seem like potential money laundering crimes often turn out to be legitimate purchases if you know what you're looking for. There are a number of common methods for accomplishing this, but the best example is buying something from someone in another country. For instance, you might consider a car from another country on a gray market-a transaction where neither party knows the other party had an illicit gain. You may think this kind of thing only happens in third world countries, but it can happen anywhere in the world. If you suspect a particular merchant is transacting money laundering, do not deal with them, or report them to law enforcement.

Use a trusted advisor - Another good method for learning how to avoid money-laundering crime is to get help from a trustworthy advisor or mentor. Sometimes criminal enterprises will use a trusted friend or relative as an intermediary. If you know someone who has been victimized by large amounts of illegal activity, ask them about their experience. Even if they don't want to discuss it, trust is built on the basis of a relationship. Criminal enterprises sometimes use intermediaries to move large amounts of illegal money. Be sure to keep on your toes and to check on new acquaintances regularly.

Be a smart witness - While you may be thinking that being an honest and open person is sufficient, many people have learned the hard way that being one hundred percent honest and open is not always enough. As mentioned above, crime figures who move large amounts of illicit funds are very shrewd business people. So, be a skeptic when investigating an individual for money-laundering purposes. If you suspect that a person is illegally transferring money, do not allow yourself to be drawn into an uncomfortable conversation with that person. Ask direct questions such as "Where did you get the money?" Or "How much money is this going to cost me?"

Do some digging - Often, crimes of opportunity and money laundering arecommitted through the use of deception. Sometimes, criminals try to hide their tracks and slips from you into the next transaction. If you suspect that a particular merchant is disguising himself as a legal businessperson and that he is actually paying illegal aliens under the table, turn your nose up, and find out. While this is not technically considered as a crime, it may still be a violation of your human rights if you are forced to pay any kind of cash in exchange for services.

In the next stage, you will probably be confronted with hard evidences of illicit money transfers. As such, there is no need to hesitate anymore. Even if you have been questioned several times, never admit anything. Instead, gather strong evidence that will make a strong case against your suspected launderer. If you suspect that your husband or wife is cheating on you, be ready to find financial documents and bank statements that can substantiate your suspicions. When the time comes, a competent lawyer will be able to help you prove that your spouse is indeed cheating on you through different ways

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