Money Laundering
Beginning of paper
The word , according to the myth, is derived from Al Capone's
practice of using a string of coin-operated launderettes in Chicago to disguise
his revenues from gambling, prostitution and protection rackets. It's a nice
story but not true, is so called because it perfectly describes
the process of ....
Middle of paper
.... the true
origin and ownership of the proceeds of their criminal activities. If they are
successful they can then maintain control over the proceeds and, so, provide a
legitimate cover for their source of income. J.D. Mclean defined money
laundering in the International Judicial Assistance as:
"Although the proceeds of crime will be kept as capital for further criminal
ventures, the sophisticated offender will wish to use the rest for other
purposes. If this is to done without running a ri ....
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Word count: 1892
Page count: 7 (approximately 250 words per page)
