Cj Money Laundering
- Submitted by: ganancio
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- Category: Politics: Moral Issues
- Date Submitted: 02/23/2011 06:56 AM
- Pages: 2
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Costs of money laundering & terrorism:
Costs of money laundering & terrorism States that don’t fight corruption & money laundering, are allowing these resources to be used to support these crimes. Financial & economic stability Human security uneven playing field for honest businesses Increased costs of doing business Promotes corruption Lowers tax base Undermines social welfare cost burden paid by poor.
Running Head; MONEY LAUNDERING
Abstract
Money laundering is a problem affecting the globe. It has been used for centuries in order for criminals to be able to hide their assists from the law. However money laundering must be stopped for it has allowed terrorist to fund their crimes. Allowed millions of kilos of drugs to be smuggled into our country and cost the lives of thousands of people due to allowing criminals to continue their crimes. It must be stopped or dramatically slowed down in order to insure the protection of the world and more importantly the America people.
Converting criminal incomes to a form that permits the offenders uncontrolled spending and investing has been a concern for both perpetrators and the government since the popularity of the Mafia.
On the one hand, criminals invent ways of transferring funds through bank wires, purchase and sale of secured credit cards, jewelry, and illegitimate businesses masked behind multiple legitimate companies. Al Capone was brought down not for the numerous crimes associated with alcohol, murder and prostitution, but for tax evasion. “Laws against handling stolen property traditionally referred only to the physical property obtained in the course of the crime. Money laundering laws were initially developed in the 1970s to combat these crimes of tax evasion to prevent the transfer of funds through international bank accounts. The list of those responsible for anti-money laundering, AML, has expanded greatly from banks to include casinos, some insurance companies, car dealers, money transfer...
Costs of money laundering & terrorism States that don’t fight corruption & money laundering, are allowing these resources to be used to support these crimes. Financial & economic stability Human security uneven playing field for honest businesses Increased costs of doing business Promotes corruption Lowers tax base Undermines social welfare cost burden paid by poor.
Running Head; MONEY LAUNDERING
Abstract
Money laundering is a problem affecting the globe. It has been used for centuries in order for criminals to be able to hide their assists from the law. However money laundering must be stopped for it has allowed terrorist to fund their crimes. Allowed millions of kilos of drugs to be smuggled into our country and cost the lives of thousands of people due to allowing criminals to continue their crimes. It must be stopped or dramatically slowed down in order to insure the protection of the world and more importantly the America people.
Converting criminal incomes to a form that permits the offenders uncontrolled spending and investing has been a concern for both perpetrators and the government since the popularity of the Mafia.
On the one hand, criminals invent ways of transferring funds through bank wires, purchase and sale of secured credit cards, jewelry, and illegitimate businesses masked behind multiple legitimate companies. Al Capone was brought down not for the numerous crimes associated with alcohol, murder and prostitution, but for tax evasion. “Laws against handling stolen property traditionally referred only to the physical property obtained in the course of the crime. Money laundering laws were initially developed in the 1970s to combat these crimes of tax evasion to prevent the transfer of funds through international bank accounts. The list of those responsible for anti-money laundering, AML, has expanded greatly from banks to include casinos, some insurance companies, car dealers, money transfer...