illegalities:money laundering

The purpose of layering is to make it more difficult to detect money laundering.

It is intended to make the tracing of illegal proceeds difficult

There are two acknowledged methods:

1) conversion of cash into financial instruments – for example, the purchase of bankers’ drafts or money orders which can then be sold

This process is becoming more and more difficult as the law changes to make it obligatory for banks to disclose material transactions like this

2) the purchase of substantial assets bought with cash then sold.

Assets that are bought by using laundered money can be resold thus legitimising the proceeds of sale at the same time as making the tracing and seizure of those assets more difficult.

OK?

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