Cartels Put Their Money Laundering on Corporate Credit Cards

09/13/16 InSight Crime

credit cards and coinsOrganized crime groups are getting creative with credit cards to move illicit proceeds across international borders without setting off regulatory alarms attuned to cash deposits, money wires or automated transfers.

Transnational organized crime (TOC) groups have dealt with the perennial problem of moving value across borders undetected.

At some point all of these groups deal with the three steps in the money laundering process, but the first one, placement, is potentially the most hazardous hurdle to overcome.

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