COMM 225 Lecture Notes - Lecture 3: Money Laundering, Structuring, Beneficial Ownership

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Convenient for launderers since deposits can be made in one country and be withdrawn from another atm in another country avoiding risks of smuggling cash. Shell corporations: business without substance or commercial purpose, entities are incorporated with the sole purpose to conceal the true beneficial ownership of business accounts and assets owned by the criminal organizations, often set up offshore. Following the paper trail is therefore considered by many to be one of the most efficient ways to combat money laundering and oc: criminals constantly change their ways and never play by same rules. Important for law enforcement to use very particular investigative techniques that make it possible to link the crime and the individual to the money. Police surveillance can often lead to the ultimate proof that the money in question has been illegally obtained. Can also be a piece of paper with a specific picture or number written on it.

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