International Money Laundering

Paper Summary:

This paper examines how successful money laundering fuels the perpetration of crimes such as drug trafficking, organized crime, corruption, illicit sales/transportation of weapons, human trafficking, fraud and theft by providing criminals with near infinite ways to conceal their actions from law enforcement agencies and ultimately provide themselves with the rewards for their criminal behavior in the form of money and proceeds that appear to be legitimate. It then looks at how bulk currency is moved using black market exchange and how this money is invested into illegal activities. The paper contends that the combating of money laundering presupposes the existence of capacity and resources at the national level and that the rise and popularity of electronic banking and informal electronic value transfer systems require scrutiny and regulation to prevent abuse and exploitation by criminals and traffickers intent on amassing and legitimizing their illicit proceeds.

Outline:
The Sophistication of Money Laundering: Bulk Currency and the U.S. Financial System
Investment of Drug and Illicit Proceeds in Business
The Internationalization of Money Laundering
Intensified Involvement of Criminal Organizations in Money Laundering Activities
An Analysis or Recommendations

From the Paper:

"The process of moving bulk currency from the United States and into Mexico, and Central or South America has been a long-standing operation much akin to the techniques used by traffickers to smuggle illicit narcotics or other contraband into the country. Smugglers and traffickers are limited only by the extent of their imaginations. Since 1996 - 1997, the Southwest border has become the focal point of drug trafficking into the United States. The majority of the cocaine in the United States is smuggled across the border with Mexico. This massive and very open stretch of land along the U.S. southern boundary provides many opportunities for criminals to smuggle cocaine, methamphetamine, and marijuana into the United States. "

Sample of Sources Used:

• Alweendo, Tom K., Crime and Money Laundering: The Challenges. Address to the African Banking Congress. March 2005.
• International Narcotics Control Strategy Reports, Financial Crimes and Money Laundering: Overview, 1993
• Congressional Hearings Intelligence and Security, U.S. Law Enforcement Response to Money Laundering Activities in Mexico, 1996
• Bergman, Lowell and Oriana Zill, the Black Market Peso Money Laundering System, PBS Frontline, 1995-2006.
• National Drug Intelligence Center, National Drug Threat Assessment 2005: Money Laundering, February 2005.

More papers on International Money Laundering:

• Persuasive Essay # 133264 : "Money Laundering: What Is It and How Do We Fight It?"
• Analytical Essay # 134815 : "The Facets of Money-Laundering"
• Research Proposal # 144808 : "Money Laundering in Saudi Arabia (KSA)"

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