Journal of Money Laundering Control · 2009 · 95 citations · 1 references
LawCriminologyBankingCrimeCybercrimeAnti-money Laundering RegulationAnti-money Laundering SupervisionFinancial CrimeMoney LaunderingMoney Laundering DetectionMoney Laundering OffensesAnti-money Laundering In PaymentsCash-based Money LaunderingMoney Laundering PreventionMoney Laundering Through GamblingMoney Laundering TypologiesSmuggling-related Money Laundering
Money laundering undermines justice, and uncovering its covert mechanisms is crucial for effective enforcement. The study aims to objectively describe money‑laundering techniques and propose countermeasures to strengthen enforcement. Using 20 simplified case studies, the authors analyze prevalent laundering techniques and their underlying motivations to suggest future countermeasures. The paper identifies diverse laundering methods—including cash smuggling, banking, shell companies, real estate, lotteries, international trade, offshore entities, legal professionals, and online non‑face‑to‑face transactions—and underscores the need for comprehensive policy and enforcement responses.
Purpose The purpose of this paper is to make objective descriptions on various money‐laundering techniques and to put forward countermeasures in order to combat money laundering more effectively and efficiently. Design/methodology/approach This paper based on 20 simplified money‐laundering cases, describes various money‐laundering techniques, analyses the reasons why these methods prevail, and points out the future efforts to be made in the fight against money laundering. Findings As usual, the ways of money laundering include cash smuggling, making use of banks or insurance company, or making use of shell‐company or front‐company. Nowadays, criminals also turn to real estate, lottery, international trade, offshore company to launder money. Sometimes lawyers, accountants are exploited by money launderers. With the wide use of electronic money and internet, criminals prefer to launder money through non‐face to face transactions. The fight against money laundering is the fight between justice and evil. It is of great importance to pierce the secret veil of money laundering so that we can combat money laundering more effectively and efficiently. Originality/value This paper prevents a comprehensive description of, and comments on, various money‐laundering techniques and future efforts to be made in the fight against money laundering, which would be beneficial to policy makers, enforcement authorities, and judicial professionals.
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