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This is a free sample preview of the essay
Money Laundering
Beginning of essay
The word , 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, is so called because it perfectly describes
the process of ....
Middle of essay
....hat money laundering is a process (often a
highly complex one) rather than a single act. In an effort to expose and
analyse this phenomenon it has become common to use a three-stage model which
encompasses an ideal money laundering scheme. The three stages are as follows:
* Placement Stage
This is where cash derived directly from criminal activity (e.g. from
sales of drugs) is first placed either
in a financial institution or used to purchase an asset.
* Layering Stage
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| Number of words: 1892 |
Approximate pages: 7 |
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