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Posts Tagged ‘money laundering

“Cleanliness is next to godliness”*…

 

One woman feeds bills into the washing machine as another collects the clean bills

Long before the term “money laundering” entered the popular lexicon, the U.S. Treasury Department had an actual laundry shop for grimy greenbacks. The mostly female “redemptive division” worked out of the basement and cleaned up to 80,000 soiled bills a day using mechanical scrubbers…

Come clean at: “Treasury Department Laundry.”

And for an insightful look at the dirty business that money laundering has become, see “The Russian Laundromat Exposed.”

* A colloquial expression (used by Francis Bacon, e.g., but popularized by John Wesley), rooted in an interpretation of Acts 9:32-10:23

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As we love the lave, we might recall that it was on this date in 1939 that The Viking Press published John Steinbeck’s The Grapes of Wrath.  The story of the Joads, a poor family of tenant farmers driven from their Oklahoma home by economic hardship– drought, agricultural industry changes, and bank foreclosures forcing tenant farmers out of work– it won the National Book Award and Pulitzer Prize for fiction, and was cited prominently when Steinbeck was awarded the Nobel Prize for Literature in 1962.

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Written by LW

April 14, 2017 at 1:01 am

“Goodness had nothing to do with it”*…

 

“Restaurants are a classic way to move money,” says Kieran Beer, chief analyst of the Association of Certified Anti-Money Laundering Specialists. Beer adds that pretty much any cash-intensive business can be used to launder money — laundromats, used car dealerships, taxi services — but restaurants tend to crop up again and again in money laundering cases…

“In basic terms, money laundering is when a business has ties or connections to organized crime and suddenly starts to book incredible — or even normal — sales,” says Beer. “That’s what criminals want to achieve — take dirty money from drugs or human trafficking or another criminal endeavor, and put into the system to make it look clean. Then, they can buy homes and cars, and it looks like the money was made legitimately.”…

Cleaning dirty money along with the dirty dishes: “How Do Criminals Launder Money Through a Restaurant?

* Mae West

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As we think about tipping, we might recall that it was on this date in 1989 that the Treasury Office of the City of Paris confessed to a computer glitch:  41,000 Parisians with outstanding traffic fines had been sent official notices charging them with major criminal offenses– murder, extortion, prostitution, drug trafficking, and other serious crimes.  For example, a man who had made an illegal U-turn on the Champs-Elysees was ordered to pay a $230 fine for using family ties to procure prostitutes and “manslaughter by a ship captain and leaving the scene of a crime.”  The City subsequently sent letters of correction and apology.

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Written by LW

September 6, 2016 at 1:01 am

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