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Money Laundering

Published:

Last Edited: April 19, 2007, 7:21 pm

I've spent most of the day completing some mandatory courses on anti-laundering.  I just don't get it.  I mean, what's wrong with freshening up your bills or putting a sparkle on those dull looking quarters? 

Did you know it's estimated that as much as $2 trillion is illegally laundered in the United States and that a large percentage is from purchasing various insurance products?

Next time I put my jeans in the washer I'm going to make darn sure there ain't any dollar bills in the pockets.  Who knew?

 

Entry #53

Comments

1.
Coin TossComment by Coin Toss - April 23, 2007, 6:37 pm
They pouinded us with this in the casinos. Regulation Six Alpha (oddly, Google that and you don't get any info).

It's inteneded to track drug dealers, casinos are ideal places for them to attempt launering money.

It's caused a lot of arguments, too. Many players are unaware of it and when they hit the $10,000 mark and have people asking them for personal data they get real snippy.

I'm not sure but I've heard the amount may have even been lowered.

I posted two links in the thread about it, but hte link feture wasn't working. The url's are there though, both .pdf files, one from Yale,.

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