Money Laundering Research Paper Example | Topics and Well Written Essays - 2000 words

cash wash - Research Paper ExampleMoney LaunderingIt can be said that silver clean is not a cause in itself scarce it is a symptom that speaks about illegal activities in its root. Main Features of Money Laundering As such, notes clean is an age old activity because its underline cause lies in illegal activities such as drug trafficking, illegal production, smuggling, or tax evasion. All these underground activities switch a single antecedent of making huge profits. Criminals attempt to legalize this money so that it can be used to turn assets or used for their secret missions such as terrorist activities. In promotional money laundering, money so garnered is reinvested in the illegal activities itself. The crux is that all these activities fall under a term specified culpable activities (SUA). Money laundering has drawn attention of the authorities in the recent years due to its division in terrorist activities as noticed during 9/11. Money laundering is rampant in most s eparate of the world and can cause serious economic and social implications because of its magnitude or malicious motives. specific Evidence and Money Laundering Investigators in the US need not prove that the money launderer was advised about the unlawful activity. That means that circumstantial evidence is enough for the investigator to prove that money launderer has generated the money through illicit means and juries will make note of this evidence during the trial. Thus, in the US, the money laundering charge can be proved by the investigating agency under Title 18, persona 1956, US Code through SUA proceeds financial transaction with the sole aim to conceal or intent to conceal the proceeds and the knowledge by culprit that the proceeds have resulted from illegal activity. It is all important(p) to note here that even clean money sent from outside the US with the purpose to hike up an SUA will fall into charge of a money laundering. Thus, the intent to promote an SUA alon g with the movement of cash in hand from or to the country is enough to put someone under a charge of money laundering (Leff, 2012). Money Laundering through Spending The Title 18, piece 1957, US Code deals with another mannequin of the money laundering charge, known as the money spending statute that prescribes that when the culprit moves over $10,000 illegally realize proceeds through a legal financial institutions then he or she whitethorn be convicted under the law with a 10-year maximum penalty. The investigator need not prove all other thing except the simple facts of transaction unlike proving intent of the money launderer promoting an SUA under Section 1956. Further, the word financial institutions is broadly defined to include not only banks or credit unions but jewelry stores, casinos, travel agencies, most merchants, brokers, and many others through which a culprit can spend their illegally earned proceeds (Leff, 2012). Money Laundering Threat Assessment (MLTA) In 2005, for the first time, the US government did Money Laundering Threat Assessment (MLTA).The purpose was to help regulators, policy makers and the law enforcement agencies to understand the depth and solemnity of money laundering and develop strategy to thwart it. Under the MLTA, thirteen money laundering methods were canvass in detail. The amount of dirty money in the US is certainly huge and globalization has accustomed further impetus to this activity through on line payment possibility. Under MLTA several initiatives have been taken