Tuesday, October 11, 2005

Money Laundering 101

MONEY LAUNDERING - Conduct designed in whole or in part to conceal or disguise the nature, source, or control of money to avoid a transaction reporting requirement under state or federal law. Transferring of "dirty money" into legitimate channels so that its original source cannot be traced. (Source: Black's)
Federal Crime under 18USCode-1956.
Checkmate(?), Herb.

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