MOney Laundering

Money Laundering The word money laundering, according to the myth, is derived from Al Capone's practice of using a string of coin-operated launderettes in Chicago to disguise his revenues from gambling, prostitution and protection rackets. It's a nice story but not true, money laundering is so called because it perfectly describes the process of removing the stains and smells which money acquires when criminals earn it. In this report I will go on to discuss …

…but not least individual/organizational greed that allows blind eyes to be turned in order to keep revenue coming in. Bibliography Dirty Money William C. Gilmore Money Laundering - A practical guide to the new legislation Rowan Bosworth-Davies and Graham Saltmarsh Crooks paradise Frank Kane, Adrian Levy, and Steve Haynes Sunday Times, 14th January 1996. Steps against cash crime Jimmy Burns The Times, 5th June 1996. Governments gunning for money launderers Oliver August The Times, 1st October 1996.