the.com/laundering
making dirty money take a shower and come out wearing a suit.
means disguising the origins of illegally obtained money by passing it through legitimate-looking transactions until it looks clean.
from traces to 1920s-30s american gangsters who literally bought laundromats as cash businesses, mixing dirty cash with legit coin-op earnings so nobody could tell which dollar came from where.
three stagesplacement, layering, integration — dirty cash gets legally born.
al capone linkpopular myth, though he preferred bribery to boutique businesses.
art market usepaintings sell anonymously, making galleries a laundering favorite.
annual scaleun estimates 2-5 percent of global gdp gets laundered yearly.