Money laundering
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Money Laundering PowerPoint PPT Presentation


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Money Laundering. Physical & Cyber Crime Anti-Terrorism Focus Other Impacts. U niting & S trengthening A merica (USA Patriot) Act . Controversial Provisions: Expanded Federal investigation powers Detention of aliens, designation of terrorist orgs. Online surveillance enhancements

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Money Laundering

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Money laundering

Money Laundering

Physical & Cyber Crime

Anti-Terrorism Focus

Other Impacts


U niting s trengthening a merica usa patriot act

Uniting & Strengthening America (USA Patriot) Act

  • Controversial Provisions:

    • Expanded Federal investigation powers

    • Detention of aliens, designation of terrorist orgs.

    • Online surveillance enhancements

    • Secret searches, Interagency info sharing

    • Monitor confidential Atty-Client communications

  • Extends Existing Money Laundering Restrictions


What is money laundering

What IS Money Laundering?

  • Various practices create illusion of legitimate transactions, disguise origin & movement of $

  • Law Enforcement motto: “Follow the Money!”

  • Modern Term originated in 20s-30s gangster era

    • Coin cash flow from “numbers” racket cleansed through mob-operated coin-op laundries

  • Existed for nearly 4000 yrs

    • Hide earnings from despotic govt confiscation & taxes

    • Essential to terrorism, illegal drug trade, organized crime, smuggling


Money laundering methods tools

Money Laundering Methods & Tools

  • Well-known practices but detection is costly

  • Transactions with minimal recordkeeping

    • Payments under $10K to avoid Currency Trans. Rpts

    • Cash used whenever possible

    • Minimize use of checks, wire transfers, credit cards

    • “Legitimate Fronts” apparently respectable businesses

  • See http://www.moneylaundering.com


Anti money laundering laws

Anti-Money Laundering Laws


Anti money laundering laws1

Anti-Money Laundering Laws


Usa patriot act s anti money laundering provisions

USA Patriot Act’s Anti-Money Laundering Provisions

  • Broadens definition of financial institutions regulated under money laundering laws

  • Requires anti-money laundering programs & training

  • Regulates private and correspondent banking

  • FCPA now defines money laundering defined as a form of bribery

  • Stiffens civil & criminal penalties for money laundering


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