Finance

How to launder money

Two of the best ways to hide tainted cash are casinos and real estate—hello, Vancouver!

By BCBusiness /

Two of the best ways to hide tainted cash are casinos and real estate—hello, Vancouver!

There are three stages to money laundering, says David Howard, author of Chasing Phil: The Adventures of Two Undercover Agents with the World’s Most Charming Con Man:

  1. Placement (moving the money, as smugglers do)
  2. Layering (distancing the money from its past)
  3. Integration(flowing the criminal proceeds back into the legitimate economy)

Writing for the Daily Beast, Howard describes various examples, including an investigation of gambling in B.C. and suspicious real estate purchases in Vancouver

BCBusiness

BCBusiness

BCBusiness celebrates the bold ideas, fearless founders, innovative leaders and game-changing companies driving British Columbia’s economy forward. We deliver insightful and impactful storytelling about the power players in B.C.’s business community to a connected audience, all with a deep love of the place we call home.