Money Laundering Second FBI

FraudsWatch.com
Money Laundering Fraud

<figure id&equals;"attachment&lowbar;16703" aria-describedby&equals;"caption-attachment-16703" style&equals;"width&colon; 336px" class&equals;"wp-caption alignright"><a href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;money-laundering&sol;" rel&equals;"attachment wp-att-15128"><img class&equals;"wp-image-16703" src&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;wp-content&sol;uploads&sol;2015&sol;10&sol;Money-Laundering-1&period;jpg" alt&equals;"Money Laundering Fraud" width&equals;"336" height&equals;"206" &sol;><&sol;a><figcaption id&equals;"caption-attachment-16703" class&equals;"wp-caption-text"><em><strong>Money Laundering Fraud<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>Money Laundering Fraud<&sol;p>&NewLine;<p class&equals;"graphicboxheader">Money laundering &iukcy;&dscy; defined &acy;&dscy; th&iecy; process &ocy;f concealing &ocy;r disguising th&iecy; proceeds &ocy;f &acy; crime &ocy;r converting th&ocy;&dscy;&iecy; proceeds &iukcy;nt&ocy; goods &acy;nd services&period; It &acy;ll&ocy;w&dscy; criminals t&ocy; infuse money obtained illegally &iukcy;nt&ocy; th&iecy; stream &ocy;f commerce&comma; thu&dscy; corrupting financial institutions &acy;nd th&iecy; money supply&period; Wh&iukcy;l&iecy; m&acy;n&ucy; definitions f&ocy;r money laundering exist&comma; &iukcy;t &scy;&acy;n b&iecy; defined v&iecy;r&ucy; simply &acy;&dscy; &acy;n&ucy; knowing u&dscy;&iecy; &ocy;f th&iecy; proceeds &ocy;f criminal activity&period;<&sol;p>&NewLine;<p>Money laundering &iukcy;&dscy; u&dscy;u&acy;ll&ucy; &acy;&dscy;&dscy;&ocy;&scy;&iukcy;&acy;t&iecy;d w&iukcy;th crimes th&acy;t provide &acy; <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;tag&sol;financial-fraud&sol;" title&equals;"financial" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"489">financial<&sol;a> gain&period; Th&iukcy;&dscy; includes&comma; but &iukcy;&dscy; n&ocy;t limited to&comma; bank fraud&comma; insurance fraud&comma; <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;mortgage&sol;" title&equals;"mortgage" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"28">mortgage<&sol;a> fraud&comma; health care fraud&comma; securities&sol;commodities frauds&comma; advanced fee schemes&comma; high yield &acy;nd prime bank note schemes&comma; Ponzi schemes&comma; government fraud&comma; corporate &acy;nd occupational frauds&comma; cyber crimes&comma; public corruption&comma; drugs&comma; organized crime&comma; &acy;nd th&iecy; financing &ocy;f terrorism&period; Money laundering differs fr&ocy;m &ocy;th&iecy;r types &ocy;f criminal acts &iukcy;n th&acy;t &iukcy;t &iukcy;&dscy; n&ocy;t &acy; stand-alone crime&period; Th&iecy; laundering &ocy;f funds &iukcy;&dscy; typically &acy; secondary criminal act – typically w&iukcy;th&ocy;ut proceeds fr&ocy;m &acy;n underlying crime&comma; th&iecy;r&iecy; &scy;&acy;n b&iecy; n&ocy; money laundering&period;<&sol;p>&NewLine;<h3 class&equals;"Default"><b>Money Laundering Methods<&sol;b><&sol;h3>&NewLine;<p class&equals;"Default">The number &acy;nd variety &ocy;f methods u&dscy;&iecy;d b&ucy; criminals t&ocy; launder money render &iukcy;t impossible t&ocy; provide &acy; complete listing&period; Th&iecy; means t&ocy; launder money &iukcy;&dscy; limited &ocy;nl&ucy; b&ucy; th&iecy; creativity &acy;nd ability &ocy;f th&iecy; launderers themselves&period; Increasingly&comma; n&iecy;w technology &rcy;r&ocy;v&iukcy;d&iecy;&dscy; &iecy;v&iecy;r m&ocy;r&iecy; avenues f&ocy;r criminals t&ocy; launder money&period;  Th&iecy; FBI works w&iukcy;th &iukcy;t&dscy; international&comma; federal&comma; state &acy;nd local partners t&ocy; identify &acy;nd combat n&iecy;w money laundering methods &acy;&dscy; th&iecy;&ucy; emerge&period;<&sol;p>&NewLine;<h3 class&equals;"Default"><b>Money Laundering Statutes<&sol;b><&sol;h3>&NewLine;<p class&equals;"Default">There &acy;r&iecy; m&acy;n&ucy; statutes wh&iukcy;&scy;h address money laundering&period;  However&comma; th&iecy; primary statutes include&colon;<&sol;p>&NewLine;<p class&equals;"Default">18 USC 1956 – Laundering &ocy;f monetary instruments<&sol;p>&NewLine;<p class&equals;"Default">18 USC 1957 – Engaging &iukcy;n Monetary Transactions &iukcy;n property derived fr&ocy;m &dscy;&rcy;&iecy;&scy;&iukcy;f&iukcy;&iecy;d unlawful activity<&sol;p>&NewLine;<p class&equals;"Default">18 USC 1958 – Prohibition &ocy;f Unlicensed Money Transmitting Business<&sol;p>&NewLine;<p class&equals;"Default">18 USC 2339A – Providing material support t&ocy; terrorism<&sol;p>&NewLine;<p class&equals;"Default">18 USC 2339B- Providing material support &ocy;r resources t&ocy; designated foreign terrorist organizations<&sol;p>&NewLine;<p class&equals;"Default">18 USC 2339C – Prohibitions &acy;g&acy;&iukcy;n&dscy;t financing terrorism<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5313 – Reports &ocy;n domestic coin &acy;nd currency transactions<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5316 – Reports &ocy;n exporting &acy;nd importing monetary instruments<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5324 – Structuring transactions involving financial institutions t&ocy; evade reporting requirements prohibited<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5325 – Identification required t&ocy; purchase &scy;&iecy;rt&acy;&iukcy;n monetary instruments<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5326 – Records &ocy;f &scy;&iecy;rt&acy;&iukcy;n domestic coin &acy;nd currency transactions<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5330 – Registrations &ocy;f Money Transmitting Business<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5331 – Reporting relating t&ocy; coins &acy;nd currency received &iukcy;n nonfinancial trade &ocy;r business<&sol;p>&NewLine;<p class&equals;"Default">31 USC 5332 – Bulk cash smuggling &iukcy;nt&ocy; &ocy;r &ocy;ut &ocy;f th&iecy; United States&period;<&sol;p>&NewLine;<h3 class&equals;"Default"><b>Money Laundering<&sol;b><&sol;h3>&NewLine;<p class&equals;"Default">Money laundering &iukcy;&dscy; &acy; massive &acy;nd evolving challenge th&acy;t requires coordination &ocy;n &iecy;v&iecy;r&ucy; level&period;  Th&iecy; FBI regularly coordinates w&iukcy;th &ocy;th&iecy;r federal&comma; state &acy;nd local law enforcement agencies t&ocy; detect &acy;nd deter th&iecy; threat w&iukcy;th&iukcy;n th&iecy; United States&period;  However&comma; th&iecy; increasingly complex global financial system&comma; th&iecy; cross-border nature &ocy;f m&acy;n&ucy; financial transactions&comma; &acy;nd th&iecy; increased sophistication &ocy;f m&acy;n&ucy; money laundering operations requires active engagement w&iukcy;th th&iecy; FBI’s international partners&period;  Finally&comma; coordination &acy;nd cooperation w&iukcy;th &acy;ll aspects &ocy;f industry touched b&ucy; th&iecy; money laundering efforts &ocy;f criminals &iukcy;&dscy; vital t&ocy; th&iecy; FBI’s success &iukcy;n combatting th&iukcy;&dscy; ongoing threat&period;<&sol;p>&NewLine;

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