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Money laundering_A three step game.pptx
This document outlines the key aspects of money laundering in 9 parts. It defines money laundering as the process of making illegally gained money appear legal. It discusses how money laundering revenue comes from various criminal activities and the reasons people launder money, such as to easily control large amounts of cash. The document also covers the negative impacts of money laundering on businesses and the economy, the features and steps of money laundering including digital money laundering, and international anti-money laundering activities.
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Money laundering_A three step game.pptx
- 1. MBA, UAP Md Arman(21206018)
- 2. CONTENTS: Part Ⅰ: IntroductionPart Ⅱ : Money Laundering Part Ⅲ : Features of money laundering Part Ⅳ : Reasons of Money Laundering Part V: Negative Impact of Money Laundering Part VI : Steps of Money Laundering Part VII : Digital Money Laundering Part VIII : Anti-Money Laundering Activities Part IX : Conclusion
- 3. "Money Laundering" USA Mafia'sattempt to "launder" illegal money Outside of typical range of economic data “Two to five percent of global GDP”
- 4. ML Revenue comesfrommax Drug Dealing Illegal Arms Sales Smuggling Prostitution Organized Crime
- 5. ML Revenue comesfrommax Tax Fraud Extortion Cyber Fraud Market Manipulation
- 6.
- 7. Money Laundering It isa process of converting illicit/illegal funds Into legal funds The phrase "Money Laundering" was coined after the Watergate Scandal in 1973. So, this not a legal definition but a colloquial term
- 8. Money Laundering When anillegal endeavor yields significant earnings The person/s need/s to figure out how to keep the cash under control without drawing attention of legal authority Fraudsters conceal the sources, change the form, or relocate the cash where they are less likely to draw suspicion
- 9. “Anyone who hidesor uncovers the source of assets” can be defined as Money Launderer Money Launderer
- 10. Money Laundering So, MoneyLaundering is the activities that directly defy the legal code and other felonious transformation of money from illegal to make it legal funds.
- 11. The Source ofMoney change blend misrepresent redirect Features of money laundering
- 12. Reasons of MoneyLaundering $1 million in 20 dollar bills=55kg Unlawful transactions occur in cash Money from organized crime, $2.85 trillionG $1 million in 5 dollar bills=220kg ML helps launderer control the cash easily
- 13. Negative Impact ofML 1. Destruction of business reputation 2. Questions on Ethics 3. Organizations become part of illegal activities 4. Affect Industry On Business 1. Emerging financial centers with less regulations are vulnerable 2. The longer it stays, the organized the crime gets 3. FDI gets depressed 4. Imbalance’o Fin. Market puts the intl. economic stability @ risk 5. Fin. service @ risk On Economy
- 14. How ML isdone
- 18. 1. Breaking amountsin smaller quantities 2. Quick transfer of funds in legal economic system 3. Some are undercut with "structuring" and "smurfing" to escape detection 4. Payment in multiple financial institutions, A/C 5. Acquiring banks or establishing new banks in offshore nations ("company havens" or "bank havens") 1. Passive penetration of funds (Use frontmen) 2. Funds are turned into other resources 3. Forward displacement in life insurance companies 4. Formation or Use of front firms 5. No dummy firm created, but simply foundational documentation is falsified.
- 19. E-Money Launderingsteps Electronic placementElectronic layering Electronic integrating
- 20.
- 21. Financial Action TaskForce created in 1989 With 33 member nations and orgs. Name & shame approach for non-cooperative members No Non-Cooperative Nations and Jurisdictions since 2006 40 international standards suggestions