2 ms·
Well, "recent" is relative. Modern money laundering procedures started to develop in 1920's and 1930's; the proceeds of crime were hidden with banking schemes,
by ptaipale 11y ago
Well, "recent" is relative. Modern money laundering procedures started to develop in 1920's and 1930's; the proceeds of crime were hidden with banking schemes, and Meyer Lansky eventually even bought a Swiss bank to help do it for the American mob.
But I would guess that already ancient Chinese criminal gangs did something similar, to make the proceeds of illegal activities appear legal.
- splittist 11y agoMoney laundering is old. Money laundering being its own stand-alone crime is recent. (And part of the modern trend of criminalizing the living of one's life in a way not maximally transparent to the government.)