Re:The candy stores of Oxford Street
by op00to on Monday April 25, 2022 @07:25AM
(#31153032)
Why do you think it money laundering? What’s the exact mechanism?
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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)