Re:Money-Laundering Practices in the Online Scam Industry
by yieldcrv on Friday September 27, 2024 @11:45AM
(#41671947)
Hey actually there is good news! I follow this topic and the broken dragnet of AML/KYC a lot
The US federal law of Money laundering relies on there being an illicit origin, which means it is impossible to be charged with just money laundering and it can only be a tacked on charge (but it may be the only charge that sticks). Merely obfuscating the origin is not a crime, it’s just stigmatized.
Ironically, if you are successful with money laundering, the origin looks licit.
The government acts like that never happens, DOJ always issues these pompous press releases about how nobody can hide in our financial system, but they dont know anything.
The US federal law of Money laundering relies on there being an illicit origin, which means it is impossible to be charged with just money laundering and it can only be a tacked on charge (but it may be the only charge that sticks). Merely obfuscating the origin is not a crime, it’s just stigmatized.
Ironically, if you are successful with money laundering, the origin looks licit.
The government acts like that never happens, DOJ always issues these pompous press releases about how nobody can hide in our financial system, but they dont know anything.