Why Do People Launder Money
Or they hide money in bank accounts that they think the revenue authorities find out about - sometimes in the names of children or elderly relatives. Lets say that you are a drug dealer. Network Analytics And The Fight Against Money Laundering Mckinsey Company The art market is an ideal playing ground for money laundering Thomas Christ a board member of the Basel Institute on Governance a Swiss nonprofit that has studied the issue said to the New York Times in 2017. Why do people launder money . First of all civilization and social benefits can only happen when people pay taxes and a direct side effect of money laundering is tax loss. They could do this in a number of ways such as disguising the money as genuine proceeds of a business through false invoices or saying that the money is from a client who doesnt actually exist. Typically criminals launder money for two reasons. Money laundering is a process that criminals use in an attempt to hide the illegal source of their ...