The Money Launderers

The Money Launderers

Product ID: 70029

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Author: Bob Blunden
Publisher: Roli Books
Year: 2003
Language: English
Pages: 152
ISBN/UPC (if available): 817436 2592


During the Vietnam war hawalla dealers bought American Gls' pay cheques at a discount, which were encashed at par by their associates in New York. Gold bought with the cash was smuggled back to Vietnam to be sold in the black market at exorbitant prices.

Credit card data stolen by dishonest store assistants are sent to Hong Kong, where duplicate cards are forged. Italian Mafia buy these to sell them to Russian thugs who buy high quality goods that end up on the shelves of Moscow departmental stores. Triads often operate cyber protection rackets by using Denial of Service attacks on financial businesses, by 'hijacking' the computer and later 'releasing' it on payment of hefty ransom. Cash based businesses such as casinos, are ideal scenarios for the laundering of dirty money. But football? Drug syndicates are eyeing even football clubs as investment opportunities.

Many claim that the term money laundering owes its origins to Al Capone and Bugsy Moran, who used coin operated laundromats to disguise earnings from gambling, prostitution, racketeering and bootlegging.