Comments on: Anti Money Laundering – The Complete Picture

By: Manu

Manu — Fri, 16 Dec 2011 02:08:44 +0000

@anonymous, @Dave – Thank you both for these important updates ! They surely add to the article by bringing in newer perspectives.

By: Muktha Prabhakar

Muktha Prabhakar — Sun, 09 Oct 2011 16:30:42 +0000

interesting

By: get backlinks

get backlinks — Fri, 30 Sep 2011 14:55:50 +0000

Awesome job, and great article very informative.

By: Athanne

Athanne — Sun, 18 Sep 2011 13:16:42 +0000

This a very informative and well researched article. I have learned a lot today.Thanks for the information

By: Dave Brown

Dave Brown — Mon, 29 Aug 2011 22:08:16 +0000

A very similar situation occurred in the online poker programs. A person or company could deposit money in a poker account. Then it was an easy thing to get in a high stakes game with another player and lose to that player. The money was transferred to the winners account where he could withdraw it at any time.

The US government tried to crack down on this by not allowing banks to transfer to gambling concerns. All they did was to set up an intermediary account that held the money. The poker companies never touched the principle, only a small fee (rake) for each game. The “winner” could then withdraw the money that had effectively been laundered.

By: Anonymous

Anonymous — Thu, 25 Aug 2011 10:15:53 +0000

It is interesting that today the British government has announced rthat they are going to clamp down on British tax payers sending money to Swiss bank accounts. This has been going on for years and is without a doubt a form of Money Laundering. Apparantly the industry is worth £5billion per year! Incredible.

The definition of money laundering is open to debate, and what some nationss consider to be laundering, others consider to be fair business dealings…. but this article is really well done and a nice overview of the topic for research purposes.

By: Ashutosh

Ashutosh — Mon, 07 Mar 2011 11:58:33 +0000

Insightful article