after the phenomenon of
"suddenly people getting rich overnight"
in recent times
Until often leading to the important question that
“They” are doing business, trading what kind of goods exactly?
Why does the product sell well?
Until being able to become a billionaire in the blink of an eye is incredible.
But in the end...when girls go deep down, most often find that
"These overnight billionaires" are
not children under the real owner of money.
It's usually just
"Kakban doll"
who was manipulated to play a role in opening a front business
and try to play with the lights to build credibility
to open the way to
“launder gray money
to become white"
for the owner of the real money, it costs more than...
So... data on gray money laundering to become white as of 2023. Is there anything that
"
we"
should
learn?
How global criminals launder money, according to a report by
software and cybersecurity firms Linkurious and Jumio.
Definition of Money Laundering:
Illegal use of money
come through the process of avoiding audits
In order to become the money that has come from like
to allow criminals to create the illusion that
Get those money right.
Estimated amount of money laundering transactions each year :
According to
Linkurious and Jumio
, the rate of money laundering transactions for criminal groups worldwide is at least
$800 billion - $2 trillion, or 2-5% of global GDP (96 trillion). US dollars) each year
, which such actions are considered to have an impact on the global economy as well.
Due to such money laundering transactions
will come in the form of a product offering
or service at a price
“below market price”
because it doesn't necessarily care about the company's profit or loss.
That's because the proceeds from gray businesses are already hugely profitable.
As such, it will eventually make businesses that operate honestly unable to compete.
by the gray money waiting to be laundered
Most of the money comes from corruption, tax evasion, human trafficking, arms trafficking, illegal wildlife trafficking.
and drug trafficking
Procedures for money laundering:
money laundering process
It will proceed through 3 main steps, namely...
1. Put money into the system (Placement)
Bring money from gray businesses into the system through various legitimate businesses.
or deposit cash in a bank account
Most of them choose to use the method of depositing not more than
10,000 US dollars
at a time, spreading it to various banks several times to make the transaction look suspicious.
Because the bank will not have to report such transactions.
2. Layering
The level of information on the source of money is to make financial transaction information complicated.
various steps
and subdivided into many departments or many countries
to conceal the true financial path
so that the examination and follow-up is difficult
3. Integration
When funds are integrated into the system until they appear to come from legitimate sources.
Criminal groups will use these funds as usual.
What businesses are often used by criminal groups to launder money:
1. Real Estate Business :
Reasons why criminal groups choose money laundering
through real estate business
Because it is a business that involves a lot of cash.
And through the process of many legal financial systems such as banks or mortgage companies
Criminal groups often purchase real estate with large amounts of cash obtained from illegal activities.
before reselling quickly before bringing the money to be deposited into the banking system again
2. Gambling business, casinos are legal:
It is undeniable that a legitimate gambling house or casino is the best place to disguise the large amount of dirty money of criminals.
To become legitimate money with the easiest way.
From the only claim that
“Earn money from gambling”
3. Expensive Luxury Resale Business:
Super cars, luxury products, or even works of art.
Exorbitantly expensive
In addition to being generally able to buy from the vast amounts of gray money in hand,
It can also often hide the identity of the buyer.
(Purchase Auction)
In addition, those products, the more time passes, the more the price increases, so if they are sold on the market at the right time, in addition to making profits.
Can also change gray silver to white immediately as well
4. Business based on cash flow :
Businesses that depend on cash flow, such as restaurants, pubs, bars, grocery stores, hotels, laundry shops, taxi companies, car washes, clothing stores or food supplement businesses.
It is a business that is both legitimate and has a lot of cash flowing in and out each day.
As a result, it is difficult to prove how
accurate or deviating the
“income” recorded in the account is.
“Especially the prices and sales of those goods and services.”
Unless serious investigations are undertaken, for example sending officials to the area to inspect these businesses closely to check for suspicious activity.
Including comparing income between businesses that are similar and in the same area only.
Anti-gray money laundering:
According to
Linkurious ,
91.1%
of the accused are convicted of money laundering crimes,
while the average jail term for money laundering is
67 months
and the minimum fine is
$1,000
. In 2022, banks around the world were fined a total
of $10.4 billion.
for violating our Anti-Money Laundering Code of Conduct
Efforts to prevent money laundering:
Currently, although the Financial Action Task Force (FATF)
has ad hoc working groups for financial measures,
it has pushed for international standard practices.
Anti Money Laundering (AML)
known as
the 40 recommendations (The Forty Recommendations)
for countries.
has taken this as a guideline for enacting legislation that will increase efficiency in the prevention and suppression of crimes related to money laundering within each country.
But the reality is that the
FATF
has no powers for countries.
Must be able to follow 40 recommendations
As a result, money laundering transactions can still occur in countries that have compromised audit standards.
Or there is still a system and monitoring technology that is outdated.
Especially in the digital world where money transfers are made through applications.
Until making banks and financial institutions
Less time and harder work to authenticate and verify customer transactions.
And what's even worse is that you still have to bear the burden of ever-increasing costs.
If you want to check
Keep up with more and more effective money laundering technologies as well.
The Thai Rath online news team reports
graphics Theerapong C.
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