Placement: Physical disposal of cash proceeds from illegal activity. Cash can be paid into a bank, often mixed with proceeds of legitimate business, exported, or used to buy high value goods, property or business assets.
Layering: Separating the proceeds from the source by creating complex layers of transactions to disguise the audit trail and provide anonymity. Like wire transfers abroad, using shell companies; cash deposits with an overseas banking system; reselling goods and assets.
Integration: Providing legitimacy to criminally derived wealth, through false loan repayments or forged invoices. A web of domestic and international transfers makes the source hard to trace.
Through The Wringer
Money laundering introduces illegal money into the financial system with an eye to recover some or all of it as clean money later. A Bank of England committee on money laundering has reported a three-stage pattern, often overlapping.
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Through The Wringer
Through The Wringer
