Modern Laundering, A Global Problem

As Economic Perspectives reports, "When the U.S. inaugural enacted bills laundering laws in 1986, they were designed to address what was mainly a domestic problem. Since 1986, money laundering has increasingly constrain a global problem" (Fight 11).

While many money laundering schemes atomic number 18 complex and vary as far as the kinds of transactions that occur, they often involved three components that are similar. The first of these is finding a way to admit the embezzled proceeds into the banking system. The second is complicating transactions to help cover the received source of the funds. The third component that is typically involved in money laundering schemes is mixing up the money from penal operations with those from legitimate operations. In golf-club to effectively take apart down on money laundering transactions, the World deposit recommends the following elements be incorporated into the legal system: " edict is needed that define

money laundering, declares it a criminal offense, and designates a state authority to receive peculiar transaction reports" (Anti 3).

The U.S. Justice subdivision incorporates all of these elements into its bms at snatch down on money laundering.

However, because of the often international in scope nature of money laundering, the U.S. works in cooperation with variant international agencies, organizations, and foreign governments to increase its chances of success. For example, in 1998 the U.S. Justice Department initiated Operation Mule Train which was a cooperative effort between the FBI, the Los Angeles Police Department and officials in Mexico in aim to crackdown on a money laundering scheme that gain more than $3 million in laundered money that represent drug profits (Fight 12).

Other operations are scour greater in international scope. From March 1997 through may 1999, the U.S. Customs Services worked with Mexican authorities in order to crackdown on money laundering
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