Money Laundering

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How many times have you heard the media talk about the laundering of money without very clear what this practice? Money laundering is neither more nor less than the process of hiding or disguising the existence of illegally obtained funds to make them appear legitimate and legally obtained. But for this to take place several steps are needed much more complex than they appear to be. One of the leading agencies in combating this practice, the Financial Action Task Force (FATF) explains, in one of the most widely accepted technical definitions that money laundering is “the conversion or transfer of property, knowing that derives from a professional offense, in order to conceal or disguise their illegal origin or assist any person involved in committing the crime to evade the legal consequences of their actions. ” That is, money raised so unclear that suddenly turns into legal funds and prepared to be used, no one is charged for it. But there are many ways to do it. At least they have understood the criminals, who have oiled their cleverly laundering mechanisms to go unnoticed by the inspection bodies. The most common sources of obtaining money are usually black drug trafficking and arms, funds derived from corruption and tax fraud, embezzlement and public, but also other illegal practices such as terrorism, theft millionaires, fraud or extortion . Therefore, for those who committed these crimes do not leave evidence on the origin of these funds, they must first enter the money into the financial system in a “camouflage.” The first phase is the placement of money.

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