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What is the difference between criminals who engage in money laundering and tax envasion - Research Paper Example

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What is the difference between criminals who engage in money laundering and tax envasion

The aim of this research paper will be to depict the difference between criminals who engage in money laundering and tax evasion. In this regard, the theory of Value-Belief-Norm can be taken into concern. According to this theory, actions of an individual are directly influenced by his/her moral and personal values that impose considerable impact upon the behavioral attitudes (Boersema & Reijnders, 2008). Hence, these psychological aspects further forms as a difference between a normal individual and a criminal.
Money can often be duly considered as one of the prime reasons for which most of the criminal activities happen in this world. In this regard, one of the commonly identified crimes associated with money is the aspect of money laundering. Money-laundering is regarded as the process through which criminals of all sorts cover the origin of their wealth in order to avoid suspicions from various law-enforcement agencies. This is also performed by the people with the intention of hiding evidences that could lead to their trail in front of the law. Money laundering can be executed through several ways that include structuring and round tripping among the primary ones. In the method of structuring, money is broken into several small deposits that reduce the chances of any suspicion from various law enforcement agencies. In relation to the method of round tripping, money distorts the market, further lessening the chances for law enforcers to detect the money (UNODC, 2013; [1] Legal Information Institute, n.d.).
In terms of law, money laundering is considered as a crime and penalty is thus imposed on people involved in laundering money. E.g. 18 USC § 1956 of law depicts that any person who is involved in laundering of monetary instruments through any means can be penalized with a fine of $ 5, 00,000 or twice the value of the money laundered. The reason that influences people towards money laundering is quite clear from the ...Show more
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In this regard, the paper implemented the theory of Value-Belief-Norm in order to provide a thorough understanding. The differences…
What is the difference between criminals who engage in money laundering and tax envasion
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