Would Gang Violence Decrease With Drug Legalization

by HolyMole @, Thursday, April 19, 2018, 17:30 (36 days ago) @ RJ

Isn't "opening more legitimate businesses, property and real goods purchasing" a perfect description of the aims of money laundering?

How many empty condos are there along the beach in Ixtapa? Mostly "property and real goods purchasing"...... by bad guys. Look at what Manafort has done with his millions.

Ever wonder at the scope of worldwide money laundering? Here are some breathtaking examples from Wikipedia's article on money laundering:

Charter House Bank in Kenya was placed under statutory management in 2006 by the Central Bank of Kenya after it was discovered the bank was being used for money laundering activities by multiple accounts containing missing customer information. More than $1.5 billion had been laundered before the scam was uncovered.

Bank of Credit and Commerce International: Unknown amount, estimated in billions, of criminal proceeds, including drug trafficking money, laundered during the mid-1980s.

Bank of New York: US$7 billion of Russian capital flight laundered through accounts controlled by bank executives, late 1990s.

Ferdinand Marcos: Unknown amount, estimated at US$10 billion of government assets laundered through banks and financial institutions in the United States, Liechtenstein, Austria, Panama, Netherlands Antilles, Cayman Islands, Vanuatu, Hong Kong, Singapore, Monaco, the Bahamas, the Vatican and Switzerland.

HSBC, in December 2012, paid a record $1.9 Billion fines for money-laundering hundreds of millions of dollars for drug traffickers, terrorists and sanctioned governments such as Iran. The money-laundering occurred throughout the 2000s.

Liberty Reserve, in May 2013, was seized by United States federal authorities for laundering $6 billion.

Institute for the Works of Religion: Italian authorities investigated suspected money laundering transactions amounting to US$218 million made by the IOR to several Italian banks.

Nauru: US$70 billion of Russian capital flight laundered through unregulated Nauru offshore shell banks, late 1990s

Sani Abacha: US$2–5 billion of government assets laundered through banks in the UK, Luxembourg, Jersey (Channel Islands), and Switzerland, by the president of Nigeria.

Standard Chartered: paid $330 million in fines for money-laundering hundreds of billions of dollars for Iran. The money-laundering took place in the 2000s and occurred for "nearly a decade to hide 60,000 transactions worth $250 billion".

Standard Bank: Standard Bank South Africa London Branch – The Financial Conduct Authority (FCA) has fined Standard Bank PLC (Standard Bank) £7,640,400 for failings relating to its anti-money laundering (AML) policies and procedures.....

etc., etc.


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