Why do you think it money laundering? What’s the exact mechanism?
https://www.reddit.com/r/london/comments/cnkcaz/private_eye_...
It could be a similar to the technique used by trinket stores that was exposed by Private Eye.
> Why do you think it money laundering? What’s the exact mechanism?
https://www.youtube.com/watch?v=RhsUHDJ0BFM
Replace "nail salon" with "candy" and you're there. Candy is a great product for this because it's high-margin, and very low value.
Thank you! I think I was overthinking it a bit - looking for a deep, nefarious scheme when they're simply saying they sold 300 boxes of candy when they only sold 50, or whatever.
Well, the usual scheme is you just report inflated sales, no?
I read a little further in the article and they mentioned that. Is it really that easy? I was hoping there was SOMETHING else besides just .. simple lying.
I had the same confusion before. I had frequently heard of money laundering and how casinos were frequently associated with it and thought it was something sophisticated. Unless I'm mistaken, it really is as simple as having a significant amounts of cash exchange hands under plausible pretenses and lying about it. For casinos, you can buy chips, cash them out, and the money is u traceable (or something like that)
That said, money laundering is pretty much everywhere; there's so many shops that don't really seem to get any business. Over here there's tons of phone shops, they sell phones, subscriptions (the provider is often plastered all over), phone cases and repairs, but I don't believe they get much traffic at all.