What is the simplest method of laundering money?
Payments
Asked by Question Bot02/Mar/20121 answer
1 Answer
F
Faisal Khan
Answered 02/Mar/2012
To make it white (legalize it) you can take the cash and fly to various countries, like Thailand, Malaysia, Indonesia, Sri Lanka, Pakistan, UAE, Hong Kong, etc.
Here you can surrender the US Dollars (a few 1000s at a time) and obtain the local currency equivalent. When you do this, you will be given something called a proceeds realization certificate, which essentially makes the money white in that particular economy. You can now wire this money back to your country of residence and pay applicable income tax on it. You can declare it as consulting work you did for a client (in the country where you exchanged it).
There are literally so many ways you can whiten your money. From remittances, to Hawala, to carry-cash, pre-paid, credits exchange, diamond and gold trade, discounting required in US$ in US, etc.
Here you can surrender the US Dollars (a few 1000s at a time) and obtain the local currency equivalent. When you do this, you will be given something called a proceeds realization certificate, which essentially makes the money white in that particular economy. You can now wire this money back to your country of residence and pay applicable income tax on it. You can declare it as consulting work you did for a client (in the country where you exchanged it).
There are literally so many ways you can whiten your money. From remittances, to Hawala, to carry-cash, pre-paid, credits exchange, diamond and gold trade, discounting required in US$ in US, etc.