Tainted Money: Are We Losing the War on Money Laundering and Terrorism Finance?

Introduction: The money churning through the world’s financial plumbing can end up in the strangest of places and in the hands of some seriously criminal people. Avi Jorisch takes a look at the methods used to transform illegal money into the squeeky clean stuff for reuse and a profit without too many awkward questions being asked about its origin.  Its not just the little people, it happens at all levels of society up to and including governments and government institutions. Money laundering is a vital part of Globalisation, moving profits beyond prying eyes, the law and taxation. There are a lot of people around who pay to keep it that way

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By Avi Jorisch, www.avijorisch.com

In New York City’s Chinatown, a restaurateur uses her informal banking business to launder the millions of dollars she earns from smuggling and exploiting illegal immigrants. In Colombia, the Chiquita banana company uses fraudulent bookkeeping to cover up its payoffs to a designated terrorist group and drug cartel responsible for the deaths of untold civilians. In Iran, authorities use state-owned banks and an array of front companies to further their nuclear and terrorist efforts. On the island of Macau, an obscure, family-owned bank circulates millions of dollars in counterfeit U.S. currency on behalf of North Korean diplomats engaged in drug and arms trafficking. In Indonesia, an al-Qaeda affiliate uses cash couriers to deliver thousands of dollars in undeclared money to operatives in Bali, who then conduct a suicide bombing that kills more than 200 people.

These are just a handful of the ways in which drug cartels, human smugglers, terrorists, rogue states, and even legitimate businesses have exploited weaknesses in the international financial system to further their goals. Such abuses continue to threaten both U.S. national security and the global economy, as tainted money flows through banks and across borders in unprecedented amounts. In this book, former Treasury Department analyst Avi Jorisch offers a sobering look at past and current efforts to stem this flow, both in the United States and abroad. Only by acknowledging the shortcomings in these efforts, he argues, can we hope to effectively confront an age-old problem that has taken on frightening new dimensions in the post-September 11 era.


Links

Author: Avi Jorisch website

Publisher: Red Cell Intelligence Group, Washington DC, website

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