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Money Laundering facts

While investigating facts about Money Laundering Meaning and Money Laundering Regulations, I found out little known, but curios details like:

A man committed to a high-security psychiatric hospital 7 years ago for fabricating a story of large scale money-laundering at a major bank is to have his case reviewed after internal bank documents proving the validity of his claims have been leaked.

how money laundering works?

HSBC Bank was caught laundering billions of dollars in drug money. No one went to jail.

What money laundering means?

In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering explain what money laundering is. Here are 50 of the best facts about Money Laundering Regulations 2017 and Money Laundering Stages I managed to collect.

what's money laundering?

  1. Google is under investigation in France for "aggravated financial fraud and organised money laundering" of €1,600,000,000.

  2. HSBC processed cash for Mexico's Sinaloa cartel. At least $881m in drug trafficking money was laundered throughout HSBC accounts. The bank widened the windows at some branches to allow tellers to accept larger boxes of money.

  3. One man was almost solely responsible for the creation of NSYNC, Backstreet Boys, LFO, O-town, and the career of Aaron Carter. He died last year in prison serving a 25 year sentence for money laundering.

  4. One of the things that initiated the downfall of Harvard educated money launderer Franklin Jurado was his neighbor in Luxembourg filing a noise complaint against him, because Jurado had a money-counting machine running all night

  5. Don Lapre, the man that became famous with his 1990s infomercials about placing tiny classified ads in newspapers and getting rich, was charged in 2011 with 41 counts of conspiracy, mail fraud, wire fraud, and money laundering and committed suicide in custody.

  6. Disappointed that he'd earned nothing from the software he'd developed, Paul le Roux started selling painkillers online, then branched out into illegal narcotics, money laundering, and arms dealing, soon becoming the leader of a rich and powerful cartel.

  7. Since the early 1900s the Vatican has been one of the top places in the world for money laundering

  8. HSBC was caught laundering money again, again, and again, of the collusion of the biggest banks that caused Trillions of dollars of damages (the LIBOR scandal) as well as that they are unanimously deemed as "too big to jail".

  9. Stephen Colbert founded a shell corporation in Delaware named Anonymous Shell Corporation so it could be given large donations to anonymously funnel into his Super PAC, he asked FMR. FEC Chairman Trevor Potter how it was different from money laundering. Potter's response was "It's hard to say."

  10. There are ordained Buddhist monks in Thailand involved with serious organised crime, gun running, child pornography and money laundering.

money laundering facts
What does money laundering mean?

Money Laundering data charts

For your convenience take a look at Money Laundering figures with stats and charts presented as graphic.

money laundering fact data chart about The Money Laundering Business Empire of DK Shivakumar - Visu
The Money Laundering Business Empire of DK Shivakumar - Visualised from RoC OpenData

money laundering fact data chart about The Panama Papers Leak — which exposed how hundreds to thous
The Panama Papers Leak — which exposed how hundreds to thousands of wealthy public figures, celebrities, elite billionaires and politicians avoided taxes and laundered money.

Why money laundering is done?

You can easily fact check why money laundering is illegal by examining the linked well-known sources.

Because of the ease and relatively extreme secrecy you can open a shell corporation in Delaware, 'companies' routinely make 6 figure donations to Super PACs nearly ever election cycle. DE's corporation laws also help launder money for major criminals all over the world, such as El Chappo.

The RHM Trust Bank, a fake bank set up by the IRS in the 90s to launder drug money and catch drug traffickers. - source

Money launderers often sue each other to wash their money with a judge’s order. - source

The 1974 Texas Chainsaw Massacre was bought and distributed by Louis Peraino of the Bryanston Distributing Company. Louis' father, Anthony Peraino, a made man with Profaci crime family, financed the most profitable porno, Deep Throat. TCM was used to launder money made from DT.

The 1972 pornographic film Deep Throat reportedly earned as much as $600 million, which if true would make it a higher grossing film than Star Wars, though this figure may have been inflated by gangsters who used movie theaters in money laundering schemes. - source

Money laundering checks when buying a house?

Whitey Bulger faced 33 counts involving extortion, money laundering, drug dealing, corruption, and being involved in 19 murders.

How money laundering is done?

The art market is used by criminals to launder money

Scotiabank participated in money laundering schemes in Mexico, did not press criminal charges on its 15 staff members involved and barely helped in solving the murder case involving their branch manager.

Laundered money accounts for 2-5% of the world's GDP, equivalent to between $800 billion-$2 trillion.

The Drug War is a joke: The biggest drug-money launderers ever caught were let off with a slap on the wrist. Smoke a joint, go to jail. Launder billions, get a walk.

Citigroup, Deutsche Bank, and Bank of America were used to launder tens of millions of dollars of drug money to Colombian brokerage firms

When to report money laundering?

After taking a plea deal for securities fraud and money laundering, Jordan Belfort shared a jail cell with Tommy Chong. Belfort credits Chong for helping to give his life a new direction.

Until 2004 North Korea had an official bank in Vienna, which they used for money-laundering, trade with radioactive substances and was linked to "Room 39", the secretive North Korean party organization.

Stephen W. Doran, a teacher arrested in 2013 for trafficking methamphetamine and money laundering after being diagnosed with cancer and becoming bald from chemotherapy, much like Breaking Bad protagonist Walter White

Because of Delaware, corporate transparency is essentially a joke in the US. Delaware gets a huge portion of the state budget from incorporations while asking little about the identity of the true owner which attracts major money laundering criminals from all over the world., a dot-com company that introduced an Internet currency similar to frequent flier programs. But because you could purchase points directly it was perfect for money laundering and fraudulent purchases accounted for 19% of transactions before it collapsed.

How money laundering effects the economy?

The Los Zetas cartel once used horse racing as a front for money laundering. One of their horses was named "Number One Cartel".

Roulette Records, the company which published Tommy James and the Shondells, was a money laundering front for the Mob

In 2012, the U.S. State Department's International Narcotics Control Strategy Report listed Vatican City for the first time among the nations of concern for money-laundering

The company set up by Saddam Hussein to launder money abroad was named "Montana Management" after Al Pacino's character, Tony Montana, from the film Scarface.

Dennis Alexio, Jean Claude Van Damn's brother from the movie Kickboxer, was recently sentenced to 15 years of Federal Prison, for money laundering, tax fraud, and obtaining precious metals fraudulently.

One of Saddam Hussein's money laundering fronts was named "Montana Management"(Tony Montana's front in Scarface).

The CEO of Enzyte; the infamous "Smilin' Bob" commercials was sentenced to 25 years in prison, and ordered forfeiture of $500 million for 93 counts of conspiracy, fraud, and money laundering.

In 2005, a NY Judge laundered money for the mob and showered nude w/ his young kids in public

Len Small, a governor of Illinois, was charged with embezzling over a million dollars through money laundering, by “misplacing” state funds into a fake bank. He was found not guilty. Eight of the jurors, as well as the brothers of the judge, later got nice state jobs.

The mafia's narcotics trafficking, extortion and money laundering activities accounted for at least 3% of Italy's GDP in 2010

An estimated $500 billion worth of illicit money is laundered through offshore banking every year, equal to the income of the worlds poorest 20%. "high net-worth individuals" (a small club of 92,000 worldwide) also keep 1/3 of their money offshore for tax evasion purposes equal to $6-13 trillion

The Colombian Drug Cartel use multiple tax havens for money laundering (video documentary "Explained With Maps: Tax Havens")

One of the most profitable movies of all time in the United States ($600 Million) is a porno called 'Deep Throat' (1972). Many speculate the movie was a front for mafia money laundering.

What's Considered Money Laundering Under NY State Law?

Pablo Escobar spent $2500 a month on elastic bands which were used to hold the money together that he couldn't launder.

This is our collection of basic interesting facts about Money Laundering. The fact lists are intended for research in school, for college students or just to feed your brain with new realities. Possible use cases are in quizzes, differences, riddles, homework facts legend, cover facts, and many more. Whatever your case, learn the truth of the matter why is Money Laundering so important!

Editor Veselin Nedev Editor