Money Laundering

Paper Summary:

The paper explains that money laundering is the process by which criminals attempt to conceal the proceeds from their illegal activities to make them appear legitimate. The paper provides a review of the relevant peer-reviewed and scholarly literature to identify what money laundering is, what controlling legislation exists and what types of investigatory processes are used to uncover it. The paper provides an analysis of how cases are built against money launderers and concludes that relevant laws are starting to have some effect.

Outline:
Review and Discussion
Conclusion

From the Paper:

"The same forces that have been driving the globalization process have also made it easier for criminals to transfer enormous sums of money from one financial institution to another until it becomes "clean" in a process known as money laundering. Furthermore, an increasing number of observers are cautioning that terrorist organizations are using money laundering techniques to avoid international sanctions on their assets, and to help finance their nefarious plots against the United States and its interests abroad. Even if the proceeds of money laundering are not used by terrorists groups, the criminal elements involved are avoiding paying taxes on their ill-gotten gains in whatever jurisdictions are involved, and the practice appears to be on the increase in spite of numerous laws designed to combat the problem."

Sample of Sources Used:

• April, D. H., & Grasso, A. M. (2001). Money laundering. American Criminal Law Review, 38(3), 1051.
• Birks, P. (1995). Laundering and tracing. Oxford: Oxford University.
• Black's law dictionary. (1990). St. Paul, MN: West Publishing Co.
• Carlson, C. (2003, April 22). USA Patriot Act. eWeek, 19(16), 18.
• Connolly, J. (2003, April 29). Patriot Act regulations for insurers are imminent. National Underwriter/Life & Health Financial Services, 106(17), 1.

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• Analytical Essay # 136347 : "Money Laundering and Assets"
• Analytical Essay # 134815 : "The Facets of Money-Laundering"

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