Summary of Kevin Sullivan's Anti-Money Laundering in a Nutshell

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 The term money laundering was coined in the 1920s, when gangsters would wash money to hide its origin. Today, the ideas and economics of money laundering are thousands of years old.

#2 Money laundering is the process of integrating the proceeds of crime into the mainstream financial system by hiding their origin. It is a sophisticated international game of intrigue and mystery, but there are some evil people behind it.

#3 Money laundering is the process of integrating the proceeds of criminal enterprises into the legitimate mainstream of the financial system. It is a simple and wonderful definition, but why does a bad guy have to launder his money in the first place.

#4 The Palermo Convention is a resolution adopted by the United Nations Convention against Transnational Organized Crime that was held in Palermo, Italy, in 2000. It states that any person who knowingly transports money for another person can be charged with money laundering.

• Language: English
• Publisher: IRB Media
• Release date: May 11, 2022
• ISBN: 9798822514140

IRB Media

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Insights on Kevin Sullivan's Anti-Money Laundering in a Nutshell

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 6

Insights from Chapter 7

Insights from Chapter 8

Insights from Chapter 9

Insights from Chapter 1

#1

The term money laundering was coined in the 1920s, when gangsters would wash money to hide its origin. Today, the ideas and economics of money laundering are thousands of years old.

#2

Money laundering is the process of integrating the proceeds of crime into the mainstream financial system by hiding their origin. It is a sophisticated international game of intrigue and mystery, but there are some evil people behind it.

#3

Money laundering is the process of integrating the proceeds of criminal enterprises into the legitimate mainstream of the financial system. It is a simple and wonderful definition, but why does a bad guy have to launder his money in the first place.

#4

The Palermo Convention is a resolution adopted by the United Nations Convention against Transnational Organized Crime that was held in Palermo, Italy, in 2000. It states that any person who knowingly transports money for another person can be charged with money laundering.

#5

Money laundering is a very common crime. It is covert and stealthy, which makes it difficult for people to detect. Most people never realize that they are victims of money laundering.

#6

Money laundering is the process of illegally moving money across borders to hide its origin. It is a $2 trillion a year industry. The methods used to move money around in a stealthy fashion are similar or the same, which makes it difficult to determine whether your suspect is a money launderer, tax evader, or terrorist financier.

#7

Money laundering is the process of making illegally obtained money appear to have originated from a legitimate source. It allows the criminals to maintain control over their illegal proceeds and provide a legitimate cover story for their source of income.

#8

Money laundering is the process of disguising the source of money obtained through illegal means. It is a major crime that affects everyone. Fighting money launderers not only reduces financial crime but also diminishes