MBA money laundering a hypothetical how do you guide part one the basics let's say you're a drug dealer a corrupt politician or would-be terrorist and you have a big sack of ill-gotten gains how big of a sack 1 million US dollars in cash weighs around two hundred and fifty six pounds the International Monetary Fund estimates that up to five percent of the world's gross domestic product or 1.5 trillion dollars is laundered every year that's roughly six billion pounds the equivalent of the wall street bowl the Statue of Liberty and the Eiffel Tower times 300 every year here's how you'd clean your 1 million dollars of dirty money in just three easy steps step 1 placement also known as deposit your cash in a bank next to how you make your money this is the riskiest phase of the laundering process to prevent banks from reporting you to the government keep cash deposits to well below $10,000 and spread it out over 160 accounts in 20 or more banks step 2 layering also known as move your money around like crazy this is the trickiest and possibly most fun stages the laundering process try changing currencies of 20% buying expensive items like houses cars and works of art to 30% and investing in legitimate businesses with the final 50% the point is to make the original dirty money impossible to trace step 3 integration also known as collecting your laundry at this point your money is no longer dirty it comes back to you through a seemingly legitimate legal transaction like dividends from savvy investment in a local Italian eatery fifty six thousand to one hundred and thirty thousand dollars a year the sale of a particularly rare Thomas Kincade painting of a lighthouse 200 thousand...
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Fincen Sar Form: What You Should Know
The SARS are the primary source of investigative tools used by U.S. financial institutions to identify and investigate individuals who may be engaging in money laundering. Because the SARS are required to be filed electronically by many financial institutions, financial institutions are in a unique position to help law enforcement combat financial crimes. SARS contain a number of different types of information that may be useful to law enforcement. SAR information includes: Money Laundering Patterns. The SAR includes information about how much money is being moved. Suspicious Activity Reports (SARS). As of April 1, 2013, financial institutions must use the new Fin CEN reports, which are available only electronically, for the primary purpose of identifying, deterring or investigating individuals who may be engaging in, or attempting to engage in, money laundering. How to Report Suspicious Activities | Fin CEN.gov How to Report Suspicious Activity. A. Fin CEN Form 5400. To file a SAR, click on “Online” then “New SAR/SAR File.” Then, fill out the form and attach it to your report. You should attach a copy (or print out, if possible) of the completed form to your bank or credit union statement that shows the transaction. You must file a SAR at least 2 business days in advance. Fin CEN SAR ElectronicFiling Instructions. B. Fin CEN Form 5200. To file a SAR, click on “Online” then “New SAR/SAR File.” Then, fill out the form and attach it to your report. You should attach a copy (or print out, if possible) of the completed form to your bank or credit union statement that shows the transaction. You must file a SAR at least 2 business days in advance. Fin CEN SAR ElectronicFiling Instructions. NOTE: For a complete listing of the SAR instructions, click here. C. A Fin CEN Form 5320. To file any SAR Report, please visit the website of your local financial institution and check with them to make sure they have the latest SAR instructions. How to Report Suspicious Activity. A. Fin CEN Form 5320. To file an online Suspicious Activity Report, click here. You must complete the “Report Suspicious Activity,” and also attach all supporting documentation that are required.
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