The word "laundering" means "cleaning," "removing dirt/stains," and "is good and positive work. However, it will turn into a total negative when the word "laundering" is combined with the word "money", becoming "Money Laundering." Because that series of words means "to embezzle/obfuscate illicit money to make it appear as if it is lawful/clean/legal/official".
In money laundering, there is an attempt to hide the origin of money obtained illegally, illegally, or proceeds of crime and then change it in the form of transactions/activities/businesses/etc that seem legitimate or legal, using various mechanisms and monetary instruments to disguise the nature of the money. forbidden It can be done through financial or non-financial mechanisms. In Wikipedia's review, this activity is clearly categorized as "dirty money."
As the law in the US explains, money laundering is the practice of engaging in financial transactions to hide the identity, source, or destination of illegally obtained money. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Currently, the definition is being broadened by governments and international regulators, such as the US Office of the Comptroller of the Currency, to include "any financial transaction that generates assets or value as a result of illegal acts", including acts such as tax evasion or fraudulent accounting.
The Money Laundering Control Act of 1986 makes money laundering a federal crime. The Money Laundering and Financial Crimes Strategy Act of 1998 requires the Treasury and other federal agencies to periodically produce National Money Laundering Strategy reports.
The first report [1999] highlighted federal efforts to address the problem of money laundering in a coordinated and comprehensive manner. The goals of the overall US strategy to combat financial crime, as implemented in the late 20th century, include combating money laundering by denying criminals access to financial institutions and strengthening law enforcement efforts to reduce the movement in and out of proceeds of crime.
Other strategies that have been implemented and implemented intensively in the United States include:
* Increasing the effectiveness of the criminal justice system by criminalizing money laundering and confiscation and confiscation of illicit proceeds
* Make financial operations more transparent.
This second point includes the "know-your-customer" rules (procedures for identifying clients who open accounts or carry out financial transactions and retaining relevant documentation for a reasonable period of time), reporting to national authorities of all transactions deemed suspicious, and cooperation between financial institutions and national law enforcement agencies to make investigations more effective.
Even in English law, it is defined more broadly, namely as "taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that property is the proceeds of a crime or obscure the beneficial ownership of said property".
So it's not just monitoring the financial aspect; even properties are listed under surveillance. It involves not only money but any economic goods. The courts involve money laundering by private individuals, drug dealers, businesses, corrupt officials, members of criminal organizations such as mafia networks, and even state officials.
The description of money laundering is becoming wider because the instruments used are also increasingly diverse. It can be in the form of leasing, receivables, investment, or even casino/gambling.
From various cases and references, the process of money laundering activities generally uses 3 stages:
a. Placing funds/assets in a financial system or institution that is considered legal or legitimate. In some cases, the perpetrators immediately split and sorted illegal funds into smaller parts and into several types of deposits at this early stage, even separating them into several banks or financial institutions. Of course, the perpetrator's goal is to make it more complicated to track and detect.
Sometimes the funds are not only in the form of savings but have been directly programmed, which seems legal, such as for financing certain legitimate activities, granting credit, buying assets or properties, etc., both in cash and in installments.
Reporting from Britannica.com, what is difficult to trace is if the money laundering is carried out physically, such as through the smuggling of goods. The money is actually brought in physically, then run through airplanes, ships, and land vehicles. It was wrapped like a package and tucked in the trunk. Then, after arriving at the destination, the money is divided into small amounts and put into several accounts. This initial stage is commonly called "placement".
b. In this second stage, the transfer of funds has begun, separating them from their source. Switching from account to account On the other hand, from one bank to another, from one region to another, there are often transfers to accounts abroad.
The transfer is, of course, aimed at a network of actors; it can be individuals, organizations, companies, etc. In some cases, it turns out that the target is a fake company. There are also those who disguise it by combining it with an account containing halal or clean money. And there is another that is directly executed in the business cycle, then claimed as a result of the business.
These launderers will generally carry out transfer activities and also carry out a series of very complex transactions with the aim of disguising and also eliminating traces of the source of the embezzled funds. This second stage is usually called "layering."
Perpetrators can already enjoy the results of their crimes. And it can only be traced if, one day, its falsity is exposed in the two previous stages. But it must be very difficult to sort it out in detail because it is really mixed with new and legal business results. This last stage is commonly called "Results Utilization."
According to the leadership of the Indonesian PPATK [Pusat Pelaporan dan Analisis Transaksi Keuangan = Center for Financial Transaction Reports and Analysis], it is stated that: In general, money laundering actors have the following characteristics: they deposit their dirty money in a bank, then transfer it to another bank by transferring it to an account using another name, such as to the accounts of assistants, assistants, partners, etc.
Then use the funds to be able to buy an asset in an area. However, this asset purchase process is carried out using the names of other people who are generally not in the circle of relatives. Then, so that he can own the asset, he will pretend to buy the asset as a second hand on credit or cash.
Another characteristic is that perpetrators often transfer funds from one bank to another under the name of another person. purchase of assets under someone else's name. avoidance of identity in the transaction process.
At the international level, all banks and financial institutions in the world have established conventions under the supervision of the United Nations, and they share information with each other if there are strange customer transactions.
In December 2000, he signed the United Nations Convention on Transnational Organized Crime. In addition, the Financial Action Task Force is an intergovernmental body created in 1989 for the purpose of developing and promoting policies to combat money laundering.
[Written by Dauf Amin]
Reference :
https://en.wikipedia.org/wiki/Money_laundering
https://www.ekrut.com/media/money-laundry-is
https://accurate.id/economy-keuangan/money-laundry/
No comments:
Post a Comment