What is money laundering?

what is money laudering, how the syndicate using the bank to do money laundering? any examples ?What is money laundering?
It's taking "dirty" money (money from crime), and "investing" it in what appears to be a legitimate operation, and getting back money (sometimes maybe only 50 cents to the dollar) in exchange that appears "clean".
If you have large sums of money you can't account for you can find some business that collects large amounts of cash during the course of its legitimate activities to deposit it for you. They can then 'buy' something from you and pay by check.



That is one example. If you find a crooked banker, you could bypass the middleman.What is money laundering?
Simple terms........Dirty money....causes crooks to have to launder the money.....Like a washing machine...........Money made from illegal activities, ie, drugs has to be washed (laundered) somewhere. Most times they attempt to run the money through a legitimite business. That way the federal government will not know they made it off drugs. I have witnessed shoe boxes full of dirty money (drug money) stacked 10 boxes high in closets. They sure can't put it in the bank. Any deposit over $10,000.00 get the IRS to looking. All Banks in the US have to file a special form when those sixe deposits come in the bank. Hope this helps you...........
In Australia, criminals opened a TAB account. Offcourse betting with a totalizator. Stolen money would be deposited and then withdrawn at a different agency, thus receiving different notes. This was mainly after an armed robbery where the serial numbers were recorded and traceable. Deposit dirty money into one agency, withdraw CLEAN money from another, all under a different name, (never your own). I don't know how the white collar criminals do it, but it's getting harder and harder with computer tracking.What is money laundering?
Money made illegally. When I was in high school, all of my dealers had stacks and stacks of money in safes because you can't deposit all that money, the IRS will investigate where it's coming from. So, you basically filter it through a "business" ("launderers" in question always either start their own, use a friend's, or pay off a business so they can use it).