4 ms·
Convicted ex-money launderer here. It's easy. Never dealt with €20M but the principle is scaleable, you smurf the money in ~€10k amounts through a network of t
by davidwritesbugs 2y ago
Convicted ex-money launderer here.
It's easy. Never dealt with €20M but the principle is scaleable, you smurf the money in ~€10k amounts through a network of trusted money mules. You buy a cash-only/mostly business like a car wash, take-away etc., rent half-a dozen shops and pump the cash through those, banks won't usually complain about cash coming in like this. €5k * 52 * {y stores}.
There are entire areas of shops in some cities where no-one goes in but the business has a healthy turnover.
There are lots of other methods too but those are trade secrets. "I could tell you but" etc. Easy 'big bang' methods like houses Rolls-Royces and art no longer work easily in most jurisdictions (oddly, apparently still in Oz from other comments). I miss the days when you could walk ito a bank with a shopping bag full of bundles of notes, I've done that - fun.
- bigbones 2y agoMoney laundering conviction to tech worker sounds like a great story, I'm sure plenty more than just me would love to hear more about your background if you were willing to share.
- davidwritesbugs 2y agoThey were sorta related, but I'm not saying more.
- adtac 2y agoIn your opinion, what fraction of the small restaurants in a typical city are engaging in money laundering at this scale? And if weighted by volume, what fraction?
- davidwritesbugs 2y agoI think it's not so much restaurants, as the setup and operation costs are higher, but countertop takeaways I think. I'm not aware of any data but I'd guess from conversations & experience it was just a fraction - single percents? But I have no clue really. For a good ML operation you need agility: easy quick and cheap to set up & teardown and move - hence takeaways, hand carwashes etc.