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"Selling some useless crap for stupid prices is one of the easiest laundering techniques" If the goal is to do something completely and utterly ineffective, su

"Selling some useless crap for stupid prices is one of the easiest laundering techniques" If the goal is to do something completely and utterly ineffective, sure. If you were under suspicion and justified an influx of cash through specious claims, the money would be confiscated as proceeds of crime and you'd be on the hook to prove otherwise. People can argue whether that's fair or not, but the whole reason real money laundering exists is to integrate shady money into legitimate trades and enterprise, and this is a very complex, very involved endeavor: You can't simply manufacture a ridiculous explanation and call it a day, or you might as well simply hand it over when they come calling and put your hands out.

mortov 13y ago
Even though most proceeds of crime legislation uses balance of probablity as opposed to beyond reasonable doubt, the practice is generally for you to be able to show some explanation where it come from which is non-criminal in order to keep the cash. Immoral (such as selling crap to people paying stupid prices for something which is worthless) is not enough to have the cash taken off you. There are lots of stories of people being duped but no actual law being broken; you pay me $50,000 for my burned out chevvy, that's your problem. I have a way to explain $50,000 out of thin air. Any junk yard will sell me a wrecked car for $100 and it's just a profitable business transaction for me to sell it on. Plus, you don't care because I gave you $55,000 15 minutes before the "transaction" so you made a profit when you handed me back $50,000! In practice to get to a confiscation hearing, there is an investigation which means following the transaction trail and the more complex and convoluted that is made with dead ends and people who disappear (but leave a small trail of evidence they were around at some point to prove they are real), the more time and money authorities expend and the longer it goes on with me hanging onto the money (even if you seized some of it already). The fact I'm selling crap and the transactions make it look like I'm mining gold in a moron mine is enough for a good lawyer to talk me out a seizure or have some bargain made with the prosecutor (which I can always delay paying anyway if I'm in Scotland it seems : http://www.dailyrecord.co.uk/news/crime/revealed-75m-dirty-money-still-2976478 http://www.dailyrecord.co.uk/news/crime/revealed-75m-dirty-m.... I'm sure other places have similar stories.) How legislation is supposed to work (as portrayed in TV/Film Justice) and how it actually works in real life is very different. If it worked TV Style, every 419 scamming prince would be in cuffs when he went to the Western Union office to collect his processing fees. Instead they drive around Lagos in BMWs laughing at all the mugus they scammed with lame-ass stories.

mortov 13y ago

Even though most proceeds of crime legislation uses balance of probablity as opposed to beyond reasonable doubt, the practice is generally for you to be able to show some explanation where it come from which is non-criminal in order to keep the cash. Immoral (such as selling crap to people paying stupid prices for something which is worthless) is not enough to have the cash taken off you. There are lots of stories of people being duped but no actual law being broken; you pay me $50,000 for my burned out chevvy, that's your problem. I have a way to explain $50,000 out of thin air. Any junk yard will sell me a wrecked car for $100 and it's just a profitable business transaction for me to sell it on. Plus, you don't care because I gave you $55,000 15 minutes before the "transaction" so you made a profit when you handed me back $50,000! In practice to get to a confiscation hearing, there is an investigation which means following the transaction trail and the more complex and convoluted that is made with dead ends and people who disappear (but leave a small trail of evidence they were around at some point to prove they are real), the more time and money authorities expend and the longer it goes on with me hanging onto the money (even if you seized some of it already). The fact I'm selling crap and the transactions make it look like I'm mining gold in a moron mine is enough for a good lawyer to talk me out a seizure or have some bargain made with the prosecutor (which I can always delay paying anyway if I'm in Scotland it seems : http://www.dailyrecord.co.uk/news/crime/revealed-75m-dirty-money-still-2976478 http://www.dailyrecord.co.uk/news/crime/revealed-75m-dirty-m.... I'm sure other places have similar stories.) How legislation is supposed to work (as portrayed in TV/Film Justice) and how it actually works in real life is very different. If it worked TV Style, every 419 scamming prince would be in cuffs when he went to the Western Union office to collect his processing fees. Instead they drive around Lagos in BMWs laughing at all the mugus they scammed with lame-ass stories.