this post was submitted on 02 Mar 2024
1069 points (98.7% liked)
me_irl
4724 readers
541 users here now
All posts need to have the same title: me_irl it is allowed to use an emoji instead of the underscore _
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Laundering money is usually mixing dirty cash with clean cash. So you have legit business(es) in a busy area, and you inflate the 'real' income with the 'dirty' cash. Now you've paid taxes on the dirty cash (and can put it in the bank).
oh. yeah, that makes sense! Thank you for the money laundering crash course :D
No problem. The best types of businesses for this deal with a lot of cash, and are ideally service-based. If you are selling goods, then someone could investigate and find that you aren't buying enough supplies to account for your sales. For laundering millions, real-estate and fine art are popular, since you can buy it cheap, and then inflate it pretty arbitrarily, and sell it (to yourself or a coconspirator) for a huge 'profit'.
kind of explains the art market :D