Question

How much does it cost to launder money?

How was the biggest money launderer of all the time captured?

Answer 1

money laundering can be done in three ways

1.placement - it means purchasing assets with tax evased

2.layering - it involves multiple transactions of money with in accounts created intentionally for that purpose

3.integration- it consists of bringing money legally into country in the form of investments

and it the cost of money laundering in u.s hits 25.3 BILLION DOLLARS per year .this statistic is based on SURVEY conducted across 125 service firms across u.s .i will even provide data across continents .

• as per financial conduct authority annual report of 2017 -18
• ASIA -1846279 DOLLARS
• AFRICA-921599 DOLLARS
• EUROPE-542734646 DOLLARS
• NORTH AMERICA-104322 DOLLARS
• CENTRAL AMERICA-187926 DOLLARS
• SOUTH AMERICA-850564 DOLLARS
• OCENIA-1033250 DOLLARS
• AND coming to the capturing of the biggest money launderer

i am going to say you about capturing of EL CHAPO . chapo was the head of MEXICO'S SINALAO DRUG CARTEL

generally money launderers are not such educated .but their main work is to use un ethical ways and loop holes of financial systems of economy.so they appoint high professional technology experts .chapo appointed technological savvy to hack bank accounts and to exploit banking systems of u.s and europe

CHAPO constructed his drug cartel so efficiently.it even earned huge money when CHAPO was behind bars .but the real challenge lies in converting money into real usage . CHAPO and his men used to deposit money less than $10,000 in several pretending accounts a day to escape from the purview of bank secrecy act.

CHAPO ,if failed to convert any money into legal usage again uses that money in mexico to manufacture drugs and dumps them in u.s.chapo mainly uses placement technique tro launder money

on 8th january 2016 EL CHAPO was arrested.he was arrested when he was on vacation in oaxaca. police detected him through his connections with international money laundering network which is operating from cities like TIJUANA,CULIACAN,GUADALAJARA and linked with other nations like COLOMBIA,PANAMA,AND THE U.S. he was ACCUSED of processing a tptal of $4 billion dollars over the last decade. he even accused of running front companies purchased by third parties through money exchangersand suspected of involvement in jailisco operation