By using Apprenticeforums services you agree to our Cookies Use and Data Transfer outside the EU.
We and our partners operate globally and use cookies, including for analytics, personalisation, ads and Newsletters.

  • Join our UK Small business Forum

    Helping business owners with every day advice, tips and discussions with likeminded business owners. Become apart of a community surrounded by level headed business folk from around the UK


    Join us!

What makes money laundering illegal?

CatherineOwens

CatherineOwens

New Member
So I heard from my mom that her brother is being accused of money laundering, and they are planning to seek the help of this money laundering barrister London for that. So when I was reading some articles online, I’m quite confused about how such cases really works. What is so illegal about it anyway? The transferring of cash or the initial crime behind that money is the illegal part?
 
PatMil

PatMil

New Member
Money laundering is simply converting "dirty money" (received from an illegal source) to "clean money"(looking like it was received from a legitimate source. The "dirty money" is the proceeds of an illegal transaction (e.g. undeclared income, money from a bribe, drug dealing, etc).
This article explains it well money-laundering.htm
 
mingstor

mingstor

Member
Verified Member
That is right! First of all, those are money obtained by some illegal ways, money that you do not declare so you do not pay taxes, which actually annoys the government most of all. I guess that it is one of the most stupid questions to ask. It is just like asking why killing someone is illegal. However, as I understood there are some ways that you can avoid declaring all of your money, and still not breaking any law. I have been gambling a lot on casino online and all the money that I have won, I have not declared, and everything is looking fine.
 
alexlama

alexlama

New Member
I used to unsuccessfully try to save my money... But I couldn't save them
 
alexlama

alexlama

New Member
I used to unsuccessfully try to save my money... But I couldn't save them
How to Incorporate Yourself into a business management, financial management and reasonable view over the real value of money, the answer is easy, only a good educational platofrmwould doit, where is a good general knowledge reagarding that topic, as for the money laundering, it is a separate subject since it involves a lot of aspects like the quantity of "dirty money" and the reason of doing that, however anyway it is bad, nevertheless people use to do it because of their bad education regarding the real value of money, and the impact of it on the whole world everybody would do it.
 
Top