Everything You Need to Know About Credit Back Money Laundering
Credit backed money laundering involves cleaning illegal cash for financial institutions to handle without any suspicion. Credit backed method of money laundering involves cleaning of money obtained from criminal activities such as insider trading, extortion, illegal gambling, and drug trafficking to appear to have been derived from legal activities in order for financial institutions to deal with it without any suspicion. Money can be laundered using various methods which vary in terms of sophistication and complexity. Loans and mortgages are usually taken as a cover to launder money proceedings, and lump sum cash repayments are used to repay the loans or mortgages. Everything You Need to Know About Credit Back Money Laundering In the "loan backed" money laundering method, a criminal provides an associate with a specific amount of illegitimate money. The associate then provides a "loan or mortgage" back to the money laundering for the same amount with all the neces
