Money Laundering and Abusive Tax Havens

Masters
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Miscellaneous
Pages 10 (2510 words)
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Money laundering is a necessary evil for evildoers. Due to one's bad deed, he has to commit some acts which appear to be good in order to cover up for the bad deed. It is like a negative and another negative will be equal to a positive.
There is that un-validated anecdote about legendary gangster Al Capone…

Introduction

(Ethiopia: Council Passes Bill on Dirty Money. USA Today. [internet] Available at: http://content. usatoday.com /topics /topic/People/Notorious/Al+Capone. [Accessed June 25, 2009].) Whatever receipts coming from the washing venture, even if at a loss or lesser than what he invested, would therefore come out clean. So, the dirty money was delivered somewhere, washed and made clean or made to appear clean.
Here is a kidnapper from Indonesia, for instance. Let us give him the name K. He kidnaps a vacationing wealthy Chinese in Macau. K gets one million dollars as ransom money in exchange of the victim's freedom. One cannot always carry one million dollars in bills or currency notes without inconvenience or difficulty. So, K deposits 300,000 dollars to the account of his Mistress No. 1, also 300,000 dollars to the account of his Mistress No.2, and another 300,000 dollars to the account of his Mistress No. 3. For the remaining 100,000 dollars, he keeps part of it in a minor bank account he has and part in his pocket. Bingo. The 900,000 dollars are safely placed in the custody of his paramours' bank accounts. In case he needs money, he simply calls any of the ladies and gets an on-line cash credit to his petty account.
A corrupt official from Korea who receives kickback money or illegal commissions ...
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