@acidtooth Seeing that you are free to post on TH-cam, I guess it's drug possession. Because Uncle Sam is more lenient on drugs than those who take her tax dues
In a democracy, the State serves the people and, therefore, Tax Evasion is a worst crime since it affects the whole of the population. One might argue my view of democracy does not match reality and I'll reply "I agree! What are you doing to fix it?" ... well ... in case I get "no, what YOU are doing?!" I'll say: posting comments on TH-cam and voting every election.
@@kevblloyd Bahaha, your comment made me laugh. Well played. Though to needlessly remove all of the humour, I think skag means heroin right? And I don't think heroin is the money ticket. Cocaine is less lethal, costs more and your clientele will likely be less sketchy.
I can't stand looking or listening to her just because she is without a doubt the stereotypical liberal nutjob college professor. I would bet she has a speech about how money laundering prosecutions disproportionately affect POCs or something 🙄🙄
@@jakeoncrack I just said what my issue was and addressed it by announcing it to the public. Can you not comprehend what people write because you're stupid or are you just saying things that are stupid but sound smart on the surface until you really think about it?
@@jakeoncrack I'm talking to you aren't I? You're pretty feminine beating around the bush and unable to make a clear statement Mr. Fairy Dust. Try actually talking to women and see for yourself xD xD.
In the 90's, we have this eye glasses chain store in Taiwan that was used as a front company by local mobs (which was somehow common knowledge). However, the glasses business is extremely lucrative as production costs are low, yet sell prices can be very high (which is why it was used for money laundering). The chain stores were earning more legitimate income than the mob was making that the mobs retired their illegal activities.
i've known a car wash place that have similar stories..it was a front for gambling, but in the end the car wash business profit surpass the gambling..they just turn to legal business after that..😂
21:53 - Yep. I remember when a small pizza joint opened in front of my house. We tried it out once, but it was the worst pizza we've ever had. They never had any customers inside, but they lasted for months in what is a very expensive neighbourhood to own a business. Months later, the police came and sealed off the whole street. They went in and they started brining out enough slot machines to fill a small casino in Vegas. The pizza joint was just a front for an underground casino, which are illegal in my country.
Imagine if law enforcement put those resources towards stopping pedos and rapists and wife beaters instead of putting all their efforts into illegal things that fund their paychecks.
I love when she mentions neighbor businesses that don’t appear to make money but stay open year after year. I’ve always wondered if those businesses and whether they are fronts. It’s a total possibility.
Definitely made me think to myself, "you idiot" about two restaurants near where I grew up that were decrepit but still open for many years with, in one case, no apparent customers. (The other one pretty regularly had 1 to 2 black Cadillac or Lincoln sedans parked out front (1980's), but no other cars.) Well of course that is what they were doing. And no, not New York or New Jersey. I'd like to think that I would have been "wiser" to the situation if I grew up there.
In my little german hometown, there used to be an asian restaurant next to the train station. It was never open, when it was, it was for chinese holiday celebration and the menu was clearly improvised. The only people ever going in and out were asian businessmen in grey suits ^^ I THINK that was an illegitimate business;) The city one day decided they needed the lot and demolished it to redesign the area...5 years later...i THINK they were tired of the obvious bullsh going on^^
In my college town there was a tropical fish store that didn’t even try and sell anything, always thought they were laundering money. Year later they got busted and it turns out they were laundering for local weed dealers.
It's interesting that Hollywood is so good at creating money laundering scenes. Especially when they are so bad at portraying almost every other activity.
I think that one three dimensional piece sticking out of the wall on the left is very distracting ... it looks like the bottom of a barrel that someone decided to mount and hang on a wall my eye kept drifting towards it even though I don't care for it .
This just makes me think of all the money laundering that goes on in the modern art business. There was literally a blank white painting that sold for $15 million.
I have always been suspicious of the gaudy art dealers with shops off of Central Park South in Manhattan. I think a couple years ago the owner of one of them was implicated in a massive poker ring, so suspicions confirmed.
Art like that is typically handled by big name companies and auction houses. If an average person were to claim to own a $15 million painting and "sell" one, you would get audited by the IRS immediately
I lived in SF in the 90s. There was an old guy that had a small mom-and-pop store that had no customers. It was between Chinatown and Nob Hill, so near downtown and in the heart of the city. They actually kept the lights off to make it look dodgy and not enticing for foot-traffic. There were spider webs on the shelves and few perishable items. The old guy just sat and read the paper all day. SF has some of the highest rents in the world, so there was no way it was a viable business. It was so obviously a money laundering outfit.
Although at the beginning he had to launder about $6m in a short period of time and he only had the bar and the strip joint to do it - not at all likely.
"earn your money the legitimate way" - go into politics (or become friends/ supporters/ marry) and earn 3-10x national average for doing nothing as a reward, or rig contracts and make millions/ billions. - 99.9999% safe. Even if another party wins in few years, they won't prosecute their predecessors because they themselves aren't "clean"...
no, you meant: "Earn your money the legitimate way: Package trash investments together, call them safe investments, and sell trillions of dollars worth of them to people who are barely living better than paycheck-to-paycheck. Or, pump oil out of a rainforest and dump the toxic waste into the river!"
There was a "used car dealership" in my old neighborhood that literally never sold a single car. No one was ever there, it was just a small shed with 10 to 20 cars in the parking lot. I'm 900% sure it was a drug money laundering front.
Near my area there are four free laundromats, all owned by the same Chinese businessman. I've often wondered if it was something like that. Otherwise, what's the point of running a 'business' that isn't making any money?
Just think about all those Mattress stores. Why are there so many in every city, but people only (typically) buy them every 7 years or so? They’re perfect because everyone can say “i have a mattress” but not “i buy them brand new every month!”
Mattresses are a high gross profit margin item. They a regularly marked up 50% or more. That $1000 mattress is probably $500-$700 in profit after paying your salesperson. Contrast that with a computer in which a $1000 computer is only around $50 profit after paying your salesperson. If the mattress store sells 5 mattresses a day, they a probably making more money than a computer store that sold 100 units. Also mattress stores a pretty low maintenance. They are usually a warehouse without fancy displays. Not to mention they can also make a profit on delivery (which most people will buy).
I use this clip with Saul Goodman all of the time. I live in Brazil and when you are teaching lawyers and investigators this has become one of the major subjects in the last 6 years and there is always new material to use. Very good and very well put together video. Congratulations and thank you. The English is clear and I can use all of this too for homework. lol.
Who did the editing for this? It was as if the editor was utterly terrified of even the slightest pause and had to immediately jump cut to another take or his old Logitech 480p webcamera. The editor won't let her finish a single sentence without cutting.
“There may be businesses in your neighborhood that don’t seem to do any business but stay open” Oh you mean the three mattress stores in the same strip mall?
There's this afro wig shop back in my hometown and it's been there since my parents moved there back in 1990, the wigs on display have been the same since I first remembered seeing it, it's way off in a weird place (but I go past it because the road is a short cut), only ever see guys going in and out. It's also right next to where the old police station was (40 metres away?) and it's just a known fact that the afro wig shop is a front for something. Had a look and there's no way to report a front business to the NCA (UK) without having actually dealt with them, but I don't need an afro wig.
We had this Vietnamese owned bar in my hometown that changed owners many times. Always Vietnamese. Later i heard they sold Heroin and the bar was used to launder the money.
i remember seeing a big chinese restaurant near a tourist hotspot at the beach in germany that was always open but never had any guests. that was suspicious too
A couple venues in my area are fronts, one for cannabis, one for ecstasy, and a car dealership for cocaine and maybe heroin. The one for ecstasy is a real open secret, especially for the types of shows they do. They're pretty much just keeping it all in house, almost like vertical integration.
In my area there are four free laundromats, all owned by the same Chinese businessman. I've often wondered if it was something like that. Otherwise, what's the point of running a 'business' that don't making any money?
There was a "used car dealership" in my old neighborhood that literally never sold a single car. No one was ever there, it was just a small shed with 10 to 20 cars in the parking lot. I'm 900% sure it was a drug money laundering front.
I love how she basically admits in this that shell companies are basically fronts but done through a legal loophole. It never ceases to be ironic that the world's ultra Rich can do things legally that most of the world has to do illegally.
Their logic is that if it was bad, it would be illegal. If it is not illegal, it is allowed, and if it is allowed, you both can and should do it. Because if not, you'll be undercut by someone who will. That might be different company, or an aspiring CEO in your own company who can tell the board how to improve the bottom line by just moving numbers around and explicitly not doing anything illegal. Individual capitalists may, on occasion, moderate themselves. These are inconsistent exceptions and should be disregarded. Capitalism does not regulate itself, that is fable for children. It must be regulated politically, and it is the failure of cowardly, incompetent or corrupt lawmakers that is to blame for current predicament. (In any country) Countries that have grasped this basic fact and have the strength of will to regulate the rich are called social democracies.
No, she doesn't "basically admit that shell companies are basically fronts". There are lots of reasons to have a shell company. The most common one is if you own several unrelated businesses. They can be used AS fronts, but that isn't remotely the main reason for them.
In Shawshank Redemption, Andy did have an advantage because he was ostensibly working for the warden who obviously have access to the outside world. The warden or his cronies take everything Andy fabricated to a lawyer to get it done and he never even have to meet the lawyer.
Attention video editor guy: Just because the interviewee has finished a sentence or phrase, you don't have to jump cut back and forth between your "slightly more zoomed in view" and your "slightly less zoomed in view". It's pointless and frankly obnoxious. Set up a real second camera or don't. Believe it or not we can survive without you cutting out the half-a-second gap between words, especially if you have to cover it up with this ludicrous editing.
Ordinary there’s a rule of having a camera move every 6 or so seconds when on an interview There really should be a second camera angle instead of zoom and zoom out at every natural break in a sentence
This was probably a remote interview. Because of social distancing guidelines right now you can't really send a camera team to do the interview or bring someone in to a studio, so the person getting interviewed probably recorded themselves and chances are they don't have the best cameras out there, or a photography director to tell them where to set the cameras, hence why you get one basic angle and one odd angle. It's not necessarily the editor's fault, sometimes their job is to try and make the best out of a bad situation or in this case crappy footage.
They probably cut out a lot more than "half-second gaps" - ie. the directors asking her to clarify something, hemming and hawing, getting lost in tangents, misspeaking, etc... you have no idea what the original footage was like, so you can't say whether it would have been better unedited.
"Earn your money the legitimate way: Package trash investments together, call them safe investments, and sell trillions of dollars worth of them to people who are barely living better than paycheck-to-paycheck. Or, pump oil out of a rainforest and dump the toxic waste into the river!"
I love when she mentions neighbor businesses that don’t appear to make money but stay open year after year. I’ve always wondered if those businesses and whether they are fronts. It’s a total possibility.
Regarding Structuring around the 6:00 mark, Australian banks have the same rules and our "big 4" (representing most of the banking in Australia) have all recently been found guilty of accepting literally hundreds of thousands of $9.9k deposits - mostly through ATMs - over the past decade or so. The first one to be sentenced was just fined about $1.3b (which represents about 1 month profit for them)
I miss The Wire. The most realistic show about the failure of the war on drugs (among other things). Some of the investigation methods may be outdated today but the show's themes are still relevant. Just brilliant!
@Ralph Reefers I mean I've had the idea of using a struggling artist to use a photography/graphic design and other small art jobs like directors, acting, writing, and a bunch more
"the banks don't talk to each other." Hold on, not true. OFAC and AML compliance has been obligatory for financial institutions since at least the turn of the century. For exactly that gimmick.
When she spoke about how we probably have front business in our neighborhoods that continue to survive every year. I can only think of one that is always around but never has customers....Mattress Firm.
tbh they make it sound like a fairly simple process. Granted, doing it in purpose is probably harder but it doesn't sound very hard when they explain it
It doesn't seem hard it's just really risky. It's essentially high risk tax evasion...evading taxes isn't hard, you just wouldn't want to get caught lol.
We used to have a Russian restaurant that only ever had a table with heavy looking blokes in leather jackets. The lady in the kitchen used to smoke with a cigarette hanging out of her mouth. It was in an expensive area and they came across as a bit hostile. I never saw anyone eating there except the same guys. It was there for years and years.
"If a bank isn't regularly reporting suspicious activity, they'll get in trouble with the regulator." Whatever the banks are paying this lady it's not enough.
there is grocery store close to where I live which is extremely terrible! I mean I barely see anyone buying anything there ever because there is a bigger and better grocery store just across the street, yet they always have a lot of staff working, fully stoked throwing away expired product and every time I see this place I say must run out of business like 3 month ago the store have been here for 5 years now and still going !!!
@@thebatonmaster Yeah, I went to her school. I didn't take her classes (I was in a different program), but I ended up working in anti-money laundering for a while anyway. She's had me as a guest speaker in her classes a couple of times. She does consulting for government agencies as well as being a professor.
It's interesting to know that in her opinion Ozark is pretty accurate, other than the amount of money that fits into a briefcase. It's such a great show.
I'm not the first to list it on the comments, but EVERYBODY know mattress outlets are fronts. I've never seen somebody actually taking a mattress out of one
If you get away with it, you probably aren't something she can teach about in her classes, unless successful launderers are using her for a confessional.
FUN FACT : when i was a kid i thought money laundry is taking your illegal money and putting it in the Washer then it becomes clean so you can buy stuff with it
in Ozark they really do put the money in the washing machine (dry, no water or soap), to make it look used. [edit] Oh that's actually in this video haha.
When I was in college, the local Chinese restaurant had a huge dining room but never had more than 2 or 3 groups dining. College students are lazy, they order delivery. Yet it stayed in business year after year and kept paying rent in an expensive area for an enormous dining room. It was pretty obvious that it was a front, and the reason they chose such a large dining room was to justify to the bank how they made so much money. They're going to check your records against norms based on restaurant size.
I know a few of those too. Also I wonder about some high end fashion stores...at least some of them must be a front. Who is buying excessive amounts of brand named clothing for instance?
I’ve always thought mattress stores are money laundering. There are always tons of stores in close proximity and they are for the most part empty, maybe one or two customers at a time, yet they manage to stay in business.
Natalie Flowers right?! Even though mattresses are expensive it’s not like people need them all the time. They last so long. They’d have to sell a good amount to stay in business let alone turn a profit. Between rent for the building, utilities, insurance, and paying employees I just don’t see how they stay in business. Has to be something shady going on.
The weinerschnitzle in my town had maybe 5-10 customers a day, but was always fully stocked and staffed...for at least the last 16 years. Always said they were selling drugs or laundering money. Just recently they abandoned the place in a day. Called it!
@@SirenaSpades nah. I asked the guy who runs the shop acorss the street. Now its just an empty building that has a blind corner drive thru. Now there are always...creative...vehicles parked there. My county goes out of it's way to displace people and services, and then act hurt when things get worse.
I don't understand what you mean by "ripping off". The closest I can think of is lobbying FUD (fear, uncertainty and doubt) about the healthiness of cigarettes which ultimately causes medical bills, poor health and a steady useless expense. And gambling, weapons, alcohol, soft drinks, food etc. are other industries that come close to "ripping off" through also lobbying FUD to both scientists, politicians, journalists and the public. And perhaps you could argue poor people generally have poorer education and are more prone to self-destructive behavior, and hypothesize that they are more vulnerable to these methods. But I think lots of rich people are fooled as well. And frankly, I think it's really hard to "rip off" anybody and get away with it. It's much easier to make money by creating mutual value.
And even then they move their money to tax heavens exept now it is to avoid taxes because you worked so hard exploiting those workers that any taxation on your millions would be totally a crime
My first job out of college was working as an audit clerk at a forensic auditing firm. I was one of those guys going to the company registry offices to find all the shell companies. Not a fun job! In the end we would draw these massive diagrams on the wall of how the companies fit together. Very interesting stuff!
There's a chinese restaurant where I live. Now I've been living there for 4 years and I've never seen any guests there but I walk past that restaurant pretty much any time I leave the house so you would think that I would see at least some guests every now and then. They don't have a delivery service either. I'm really thinking there's something fishy going on there^^
Once, I went to a random barbershop for a quick haircut. There were more people "working" there than actual spots for clients. Most of them were just siting around looking at their phone and joking. And the guy who was triming my hair didn't treat me well, didn't do a good job. He didn't even talked to me. I never went back, but I've noticed they never have more than ONE client, but yet they have many "employees". That place smells like a laundromat sooo much
Something about this video made me feel subtly nauseous, and reading the comments made me realize it's the insane editing. Who thought it was a good idea to keep zooming in and out?
There is a business near where I live that for the first few years I that I lived here was changing hands and opening up as something different every few months. Then about a decade ago it opened up as a tiny mexican grill. While I never see more than a few cars in the parking lot, even at the busiest times of day, it has somehow stayed open that whole time. After that first year I remember making a joke about how it was probably a money laundering front. Been ten years now.
There's a tiny expensive shoe store at a beach side suburb near me with hardly any people traffic. It's lasted for years. I've always thought it was a front too
Solution to having too much money to handle: Charity. I know, it's a bit backwards, but if you have that much money that it becomes a genuine liability, you could just actually donate it to charitable organizations. I highly doubt that they'll ask many questions, and if you have more money than you could reasonably spend in a lifetime, you might as well.
I like that she believes in the efficacy of the banking system in detecting illegitimate activity. However, after reading about the HSBC money-laundering scandal and the Danske Bank scandal, I wouldn't be too sure about it. You don't need to do anything if a so-called 'reputable' bank is willing to look the other way.
I worked for a large bank and I can verify this. Never was any suspicious activity looked into whatsoever. Whenever it happened, you knew they were protected at the top
@@daviesdavies538 Exactly, I read about and watched the documentary on HSBC as part of Dirty Money on Netflix and it showed how the bank not only ignored but actively helped cartels and terrorists launder hundreds of millions.
@@daviesdavies538 My bank is very unlike this and I've filed tons of these reports. Our general policy and coaching was fill it out and if it's nothing, that's on someone else to figure out.
I remember multiple flower shops in Los Angeles that charged exorbitant prices. Some were in affluent neighborhoods, but most of them were in less affluent neighborhoods.
LOVE the focus on what media got right! That I think is more useful information than pointing out what a specific movie with a specific scene got specifically wrong. Correct information can be applied and generalized in other instances. Wrong information just doesn't give you anything.
“I teach money laundering, and this is my MasterClass.”
The most successful front in America... GNC!
Like go on youtube as a criminal and there you have it ! LMAO
LMAO!
LMAO!
Hahahahahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa................................................
Jessie "I'm a drug dealer?"
Saul "Ehh!, hundred times worse. You're a tax evader"
hahaaaa
@acidtooth umm commenting your evidence of criminal activity on social media sites ?
@acidtooth Seeing that you are free to post on TH-cam, I guess it's drug possession. Because Uncle Sam is more lenient on drugs than those who take her tax dues
growlingbehemoth Exactly! How can people expect someone to pay for his crimes for the rest of his life?
Unless you are Donald Trump. Then it's fine
In a democracy, the State serves the people and, therefore, Tax Evasion is a worst crime since it affects the whole of the population. One might argue my view of democracy does not match reality and I'll reply "I agree! What are you doing to fix it?" ... well ... in case I get "no, what YOU are doing?!" I'll say: posting comments on TH-cam and voting every election.
Nice money laundering tips. Now the only thing I need, is to learn how to earn illegal pile of money in first place.
Drugs, my friend.
@@vistelle Right, I've shot up an armload of skag. What's the next step?
Dig in the desert, apparently that's where all drug kings put their money
@@kevblloyd Bahaha, your comment made me laugh. Well played.
Though to needlessly remove all of the humour, I think skag means heroin right? And I don't think heroin is the money ticket. Cocaine is less lethal, costs more and your clientele will likely be less sketchy.
Easy, buy some drugs and sell them at a markup..
Her smirk the whole time. She knows things, she can’t share but really wants to.
I can't stand looking or listening to her just because she is without a doubt the stereotypical liberal nutjob college professor. I would bet she has a speech about how money laundering prosecutions disproportionately affect POCs or something 🙄🙄
@@theloanranger2632 Sounds like you might have unaddressed issues man.
@@jakeoncrack I just said what my issue was and addressed it by announcing it to the public. Can you not comprehend what people write because you're stupid or are you just saying things that are stupid but sound smart on the surface until you really think about it?
@@theloanranger2632 No I think you've got other things going on xD try actually talking to women...
@@jakeoncrack I'm talking to you aren't I? You're pretty feminine beating around the bush and unable to make a clear statement Mr. Fairy Dust. Try actually talking to women and see for yourself xD xD.
In the 90's, we have this eye glasses chain store in Taiwan that was used as a front company by local mobs (which was somehow common knowledge). However, the glasses business is extremely lucrative as production costs are low, yet sell prices can be very high (which is why it was used for money laundering). The chain stores were earning more legitimate income than the mob was making that the mobs retired their illegal activities.
That's hilarious. Mobsters turned optometrists.
good for them lol
Mobtometry
i've known a car wash place that have similar stories..it was a front for gambling, but in the end the car wash business profit surpass the gambling..they just turn to legal business after that..😂
What's up with using a potato for the second camera?
Maybe because she's at home and using her webcam or something 🤔
they usually have a camera and a Zoom meeting that are both recording them
I’m studying video editing and that side shot would never fly with my teacher.
@@reachground It looks horrid.
They want to show off that large circular thingy? Wtf is that anyway?
21:53 - Yep. I remember when a small pizza joint opened in front of my house. We tried it out once, but it was the worst pizza we've ever had. They never had any customers inside, but they lasted for months in what is a very expensive neighbourhood to own a business.
Months later, the police came and sealed off the whole street. They went in and they started brining out enough slot machines to fill a small casino in Vegas.
The pizza joint was just a front for an underground casino, which are illegal in my country.
that's why you make your front businesses have good food.
Are u Korean ?
Imagine if law enforcement put those resources towards stopping pedos and rapists and wife beaters instead of putting all their efforts into illegal things that fund their paychecks.
@@moshikamboshi1 he's Italian. Are u kidding me rn???
@@blancoguwopp2707 thank u!
I love when she mentions neighbor businesses that don’t appear to make money but stay open year after year. I’ve always wondered if those businesses and whether they are fronts. It’s a total possibility.
Definitely made me think to myself, "you idiot" about two restaurants near where I grew up that were decrepit but still open for many years with, in one case, no apparent customers. (The other one pretty regularly had 1 to 2 black Cadillac or Lincoln sedans parked out front (1980's), but no other cars.) Well of course that is what they were doing.
And no, not New York or New Jersey. I'd like to think that I would have been "wiser" to the situation if I grew up there.
Same here I've seen a few businesses and they have no customer traffic whatsoever yet are still open after yrs
In my little german hometown, there used to be an asian restaurant next to the train station. It was never open, when it was, it was for chinese holiday celebration and the menu was clearly improvised. The only people ever going in and out were asian businessmen in grey suits ^^
I THINK that was an illegitimate business;)
The city one day decided they needed the lot and demolished it to redesign the area...5 years later...i THINK they were tired of the obvious bullsh going on^^
In my college town there was a tropical fish store that didn’t even try and sell anything, always thought they were laundering money. Year later they got busted and it turns out they were laundering for local weed dealers.
Probably more likely that those business owners are a few million in debt...
It's interesting that Hollywood is so good at creating money laundering scenes. Especially when they are so bad at portraying almost every other activity.
They also good at making cult movie. Just too good make you wonder whether is it a coincidence that Scientology HQ is based in Hollywood
Not Another Independant Movie had a $3million budget, made low 5 figures. Maybe it wasn't all spent on director's cocaine...
Wasn't Hollywood tied with the Italian Mafia for some time? Sure films were financed by them.
They know a thing or two, cause they’ve seen a thing or tow
movies or tv shows don't cost $2 billion to make.
This woman has the most visually interesting office I've ever seen. That dope 3 dimensional art and circles on the cabinets are amazing.
I think that one three dimensional piece sticking out of the wall on the left is very distracting ... it looks like the bottom of a barrel that someone decided to mount and hang on a wall my eye kept drifting towards it even though I don't care for it .
@James Spittle yeah I know I feel that it probably doesn't have a function and is just something I would never put on my wall
@James Spittle it most likely does otherwise it would have no reason to jut out. That just is not how design works.
You mean kitschy?
@@samaraisnt you never know because there's a lot of stuff that's been passing as art for a very long time now and some of it come inside prices .
Vanity Fair - PLEASE keep all these series going, so needed during lockdown!!!
Trust me
Did you see the one with the Psychiatrist answering Twitter questions? Soooo good!!
I like how passionate she discusses about money laundering, and she likes how Saul Goodman outwits the Feds.
@Terror Shark 🙂
Jessie "I'm a drug dealer?"
Saul "Ehh!, hundred times worse. You're a tax evader"
hahaaaa
actually, judging by her comments, tv tends to get money laundering quite right. i mean compare this video to the one about hacking...
100th like
Yes she really loves her job and makes it fun for those who are listening .
This just makes me think of all the money laundering that goes on in the modern art business. There was literally a blank white painting that sold for $15 million.
Alot of it does.
I have always been suspicious of the gaudy art dealers with shops off of Central Park South in Manhattan. I think a couple years ago the owner of one of them was implicated in a massive poker ring, so suspicions confirmed.
Art like that is typically handled by big name companies and auction houses. If an average person were to claim to own a $15 million painting and "sell" one, you would get audited by the IRS immediately
@@user-ec6qj1lc3c Yeah, and the mob owns the auction houses...
@@user-ec6qj1lc3c i thought the value of art was subjective, so what would the IRS do against them?
She was my professor in college, and she is the GOAT. 100% the real deal. We actually learned about a lot of these scenes in class.
Any notes or book you recommend for deep dive
I lived in SF in the 90s. There was an old guy that had a small mom-and-pop store that had no customers. It was between Chinatown and Nob Hill, so near downtown and in the heart of the city. They actually kept the lights off to make it look dodgy and not enticing for foot-traffic. There were spider webs on the shelves and few perishable items. The old guy just sat and read the paper all day. SF has some of the highest rents in the world, so there was no way it was a viable business. It was so obviously a money laundering outfit.
I hope I can help launder money and use it for a good purpose, like actually charities and building houses schools and hospitals.
The way she validated ozark made me so happy 🤣
Yasss
Although at the beginning he had to launder about $6m in a short period of time and he only had the bar and the strip joint to do it - not at all likely.
@@capitalb5889 i believe a major part of it went in as investment.
Ozark be the best...
Every time they cut to the pixelated camera, the bank files a suspicious activity report to the Treasury office.
"earn your money the legitimate way" - go into politics (or become friends/ supporters/ marry) and earn 3-10x national average for doing nothing as a reward, or rig contracts and make millions/ billions. - 99.9999% safe. Even if another party wins in few years, they won't prosecute their predecessors because they themselves aren't "clean"...
A two-party system is only slightly better than a one-party system.
no, you meant:
"Earn your money the legitimate way: Package trash investments together, call them safe investments, and sell trillions of dollars worth of them to people who are barely living better than paycheck-to-paycheck. Or, pump oil out of a rainforest and dump the toxic waste into the river!"
Having too much money is such a relatable problem I will never have
The Professor has mastered that stare that good teachers do to make you feel guilty and confess, even though you haven't done anything wrong lol
Atiba Maule Like launder money?
There was a "used car dealership" in my old neighborhood that literally never sold a single car. No one was ever there, it was just a small shed with 10 to 20 cars in the parking lot. I'm 900% sure it was a drug money laundering front.
Sounds like whoever ran it must've sucked at covert money laundering
Near my area there are four free laundromats, all owned by the same Chinese businessman. I've often wondered if it was something like that. Otherwise, what's the point of running a 'business' that isn't making any money?
@@TomorrowWeLive free how? Like you can do your washing and drying for free?
@@theloniousmorphy apparently
Tomorrow We Live at least they’re generous criminals, not charging the locals
Just think about all those Mattress stores. Why are there so many in every city, but people only (typically) buy them every 7 years or so? They’re perfect because everyone can say “i have a mattress” but not “i buy them brand new every month!”
Matresses are legit
Mattresses are a high gross profit margin item. They a regularly marked up 50% or more. That $1000 mattress is probably $500-$700 in profit after paying your salesperson. Contrast that with a computer in which a $1000 computer is only around $50 profit after paying your salesperson. If the mattress store sells 5 mattresses a day, they a probably making more money than a computer store that sold 100 units. Also mattress stores a pretty low maintenance. They are usually a warehouse without fancy displays. Not to mention they can also make a profit on delivery (which most people will buy).
It's the people buying gold and pawn shops that are money laundering
I love when she talks about breaking bad you can see she really likes the show
That was a nice touch
I use this clip with Saul Goodman all of the time. I live in Brazil and when you are teaching lawyers and investigators this has become one of the major subjects in the last 6 years and there is always new material to use. Very good and very well put together video. Congratulations and thank you. The English is clear and I can use all of this too for homework. lol.
As a writer, I consider this video gold for research materials.
Every Book has a kernel of truth in it... stuff like this, goldmine
A “writer” yes
As a money launderer, I consider this video golf for research materials.
this professor has a very sassy finger. i like that.
She doesnt have to Launder her money, she keeps it in the big wooden circle in her study...youre welcome FBI
You ignoramus! That's a top hat! (for hiding the money)
She’d have to think of something else, the money would rot.
You.know what they say...hide it in plain site
@@sdesantino if you push the top hat the circle on the right pops out of the wall
Yeah right? Or one of the other suspicious holes in her walls...
Who did the editing for this?
It was as if the editor was utterly terrified of even the slightest pause and had to immediately jump cut to another take or his old Logitech 480p webcamera. The editor won't let her finish a single sentence without cutting.
I think it is the first serious job by a teenage vlogger. They live for jumpcuts and crappy crops. I personally listened without watching
Made me lol have many sentences were cut together too. It's so bad now that I think I tuned it out like clock ticking unless looking for it.
“There may be businesses in your neighborhood that don’t seem to do any business but stay open”
Oh you mean the three mattress stores in the same strip mall?
There's this afro wig shop back in my hometown and it's been there since my parents moved there back in 1990, the wigs on display have been the same since I first remembered seeing it, it's way off in a weird place (but I go past it because the road is a short cut), only ever see guys going in and out. It's also right next to where the old police station was (40 metres away?) and it's just a known fact that the afro wig shop is a front for something.
Had a look and there's no way to report a front business to the NCA (UK) without having actually dealt with them, but I don't need an afro wig.
We had this Vietnamese owned bar in my hometown that changed owners many times. Always Vietnamese. Later i heard they sold Heroin and the bar was used to launder the money.
i remember seeing a big chinese restaurant near a tourist hotspot at the beach in germany that was always open but never had any guests. that was suspicious too
A couple venues in my area are fronts, one for cannabis, one for ecstasy, and a car dealership for cocaine and maybe heroin.
The one for ecstasy is a real open secret, especially for the types of shows they do. They're pretty much just keeping it all in house, almost like vertical integration.
In my area there are four free laundromats, all owned by the same Chinese businessman. I've often wondered if it was something like that. Otherwise, what's the point of running a 'business' that don't making any money?
@@animal0mother And you just know all this because..?
That’s all of Orange County.
“I’ve been teaching courses about money laundering for about 20 years” life well spent.
Sign me up!
All this CROP IN CROP OUT CROP IN CROP OUT, stop it already.
There was a "used car dealership" in my old neighborhood that literally never sold a single car. No one was ever there, it was just a small shed with 10 to 20 cars in the parking lot. I'm 900% sure it was a drug money laundering front.
@@michaelstark7388 haha I think you accidentally replied to this guy's comment
@@michaelstark7388 this is the best reply I have ever seen
@@happyone234 there is another comment exactly like this posted 7 months ago
I love how she basically admits in this that shell companies are basically fronts but done through a legal loophole. It never ceases to be ironic that the world's ultra Rich can do things legally that most of the world has to do illegally.
Their logic is that if it was bad, it would be illegal. If it is not illegal, it is allowed, and if it is allowed, you both can and should do it. Because if not, you'll be undercut by someone who will. That might be different company, or an aspiring CEO in your own company who can tell the board how to improve the bottom line by just moving numbers around and explicitly not doing anything illegal.
Individual capitalists may, on occasion, moderate themselves. These are inconsistent exceptions and should be disregarded. Capitalism does not regulate itself, that is fable for children. It must be regulated politically, and it is the failure of cowardly, incompetent or corrupt lawmakers that is to blame for current predicament. (In any country)
Countries that have grasped this basic fact and have the strength of will to regulate the rich are called social democracies.
Sorry that was a bit of a rant, not aimed at you
Sociailsm is socialism., sticking decmoracy before after it doesnt change that.
No, she doesn't "basically admit that shell companies are basically fronts".
There are lots of reasons to have a shell company. The most common one is if you own several unrelated businesses. They can be used AS fronts, but that isn't remotely the main reason for them.
In Shawshank Redemption, Andy did have an advantage because he was ostensibly working for the warden who obviously have access to the outside world. The warden or his cronies take everything Andy fabricated to a lawyer to get it done and he never even have to meet the lawyer.
Attention video editor guy: Just because the interviewee has finished a sentence or phrase, you don't have to jump cut back and forth between your "slightly more zoomed in view" and your "slightly less zoomed in view". It's pointless and frankly obnoxious. Set up a real second camera or don't. Believe it or not we can survive without you cutting out the half-a-second gap between words, especially if you have to cover it up with this ludicrous editing.
Ordinary there’s a rule of having a camera move every 6 or so seconds when on an interview
There really should be a second camera angle instead of zoom and zoom out at every natural break in a sentence
Marginally better than jump cuts. Marginally.
Thank you!
This was probably a remote interview. Because of social distancing guidelines right now you can't really send a camera team to do the interview or bring someone in to a studio, so the person getting interviewed probably recorded themselves and chances are they don't have the best cameras out there, or a photography director to tell them where to set the cameras, hence why you get one basic angle and one odd angle. It's not necessarily the editor's fault, sometimes their job is to try and make the best out of a bad situation or in this case crappy footage.
They probably cut out a lot more than "half-second gaps" - ie. the directors asking her to clarify something, hemming and hawing, getting lost in tangents, misspeaking, etc... you have no idea what the original footage was like, so you can't say whether it would have been better unedited.
"Earn your money the legitimate way: Package trash investments together, call them safe investments, and sell trillions of dollars worth of them to people who are barely living better than paycheck-to-paycheck. Or, pump oil out of a rainforest and dump the toxic waste into the river!"
I love when she mentions neighbor businesses that don’t appear to make money but stay open year after year. I’ve always wondered if those businesses and whether they are fronts. It’s a total possibility.
@@mandiecary8190 Why is your comment the exact same as Vane San's: th-cam.com/video/U0e7OCfAO64/w-d-xo.html&lc=UgwHh1dwT2mDZ1H1zbR4AaABAg ?
Or create a foundation and "sell" access to important leaders in government and business...
Or make up a bunch of BS about global warming, then get rich selling green energy tax credits.
@@farmalmta sure.. 🤡
These masterclasses are getting intense
Regarding Structuring around the 6:00 mark, Australian banks have the same rules and our "big 4" (representing most of the banking in Australia) have all recently been found guilty of accepting literally hundreds of thousands of $9.9k deposits - mostly through ATMs - over the past decade or so. The first one to be sentenced was just fined about $1.3b (which represents about 1 month profit for them)
I miss The Wire. The most realistic show about the failure of the war on drugs (among other things). Some of the investigation methods may be outdated today but the show's themes are still relevant. Just brilliant!
Ok, this lady's adorable. I love her passion for finances! And I love that she's not discrediting my favorite shows. :D
@Steven Casey Miller ?
@Steven Casey Miller My man
Owning a film production company would solve almost every problem mentioned in this video.
@Chaos Burrito it would be incredibly suspicious if a talent agency didn't keep track of that while all the other ones do
@Ralph Reefers I mean I've had the idea of using a struggling artist to use a photography/graphic design and other small art jobs like directors, acting, writing, and a bunch more
You would loose the money.... Not clean it....
"Under the right circumstances, a producer could make more money with a flop than with a hit!"
High level CCP officials has been doing this for years in China, that's one reason why Chinese films suck that much.
"the banks don't talk to each other." Hold on, not true. OFAC and AML compliance has been obligatory for financial institutions since at least the turn of the century. For exactly that gimmick.
When she spoke about how we probably have front business in our neighborhoods that continue to survive every year. I can only think of one that is always around but never has customers....Mattress Firm.
I want to be her best friend. She seems like the type to have a unique take on any subject.
"Laudering money is never as easy as Hollywood makes it out to be." Shows only Hollywood clips that all explain that laundering money is not easy.
the montage makes it look easy tho
Right because there are only two levels of difficulty easy and not easy. Good one.
tbh they make it sound like a fairly simple process. Granted, doing it in purpose is probably harder but it doesn't sound very hard when they explain it
I think the point is more they make it out like most people can do it and it is do-able to not get caught.
It doesn't seem hard it's just really risky. It's essentially high risk tax evasion...evading taxes isn't hard, you just wouldn't want to get caught lol.
"Instuctions unclear, The FBI are now at my door...."
Professor Reuhsen is awesome. I really enjoyed my classes with her!
She put out the booty?
We used to have a Russian restaurant that only ever had a table with heavy looking blokes in leather jackets. The lady in the kitchen used to smoke with a cigarette hanging out of her mouth. It was in an expensive area and they came across as a bit hostile. I never saw anyone eating there except the same guys. It was there for years and years.
"If a bank isn't regularly reporting suspicious activity, they'll get in trouble with the regulator."
Whatever the banks are paying this lady it's not enough.
*Laughs in subprime mortgage-backed securities*
Can't believe she called Prez Lester's assistant, what a diss.
there is grocery store close to where I live which is extremely terrible! I mean I barely see anyone buying anything there ever because there is a bigger and better grocery store just across the street, yet they always have a lot of staff working, fully stoked throwing away expired product and every time I see this place I say must run out of business like 3 month ago
the store have been here for 5 years now and still going !!!
"You see those Compliance Officers? I train them."
Nice flex!!
If she wanted to flex she'd mention that she speaks Arabic and worked on this stuff in Iraq, too.
@@doug99 oh wow, really?
@@thebatonmaster Yeah, I went to her school. I didn't take her classes (I was in a different program), but I ended up working in anti-money laundering for a while anyway. She's had me as a guest speaker in her classes a couple of times. She does consulting for government agencies as well as being a professor.
@@doug99 Wow, me too.
Everyone: This is interesting.
Me: *Takes detailed notes on this master class.*
It's interesting to know that in her opinion Ozark is pretty accurate, other than the amount of money that fits into a briefcase. It's such a great show.
Camera A: nice quality has lady nicely in view and we can see everything easily
Camera B: AAAAAAAAAAAAAAAA BLURRRRRRRRRE
I'm not the first to list it on the comments, but EVERYBODY know mattress outlets are fronts. I've never seen somebody actually taking a mattress out of one
I never thought of that
Lol I assumed they were just showrooms but I've never seen anyone go inside them either 🤔
bruh bc they’re delivered. it’s not a christmas tree farm you don’t just strap them to your roof
@@gracedidomenico1712 what a great scheme
@@gracedidomenico1712 to be fair A LOT of people do. Unsuccessfully sometimes though 🤣
Yes ma'am, thank you for making this video that I am definitely using for entertainment purposes only.
be careful at how you entertain yourself
Hi Moyara, wow, great to see you on VF. Congrats on such a great piece! Wooohoo I’m so happy for you! Kudos!
Nobody:
This Lady: SUSPICIOUS ACTIVITIES REPORT
Wow, I knew Ozark was a great show, but knowing that it has the approval of a money laundering expert as being realistic makes it even better.
So how do I actually get away with money laundering Moyara?!?!?🤔🤑
Easiest way, by far, is by starting with clean money.
@@morphman86 laser tag
@@aftereffectstutorials7513 hahaha good BB reference
Follow Breaking Bad. She pretty much says they got all the deets right
If you get away with it, you probably aren't something she can teach about in her classes, unless successful launderers are using her for a confessional.
FUN FACT : when i was a kid i thought money laundry is taking your illegal money and putting it in the Washer then it becomes clean so you can buy stuff with it
I understood that reference
Same
So it wasnt just me 😂
in Ozark they really do put the money in the washing machine (dry, no water or soap), to make it look used. [edit] Oh that's actually in this video haha.
@@GerbenWijnja Seen it in other movies as well. Usually when it's illegally printed money with stolen plates or something.
Glad we have people like her in the world. I sleep better at night knowing she's training others to do what she does
Just go to HSBC and tell them you have some drug money need to launder, they will take care it
Yup I grew up in London where they are big here and I’ve researched them and the do handle a lot of dirty money
try deutsche bank
@@a1bells501 London after brexit is just gonna be the money laundering capital of the world.
When I was in college, the local Chinese restaurant had a huge dining room but never had more than 2 or 3 groups dining. College students are lazy, they order delivery. Yet it stayed in business year after year and kept paying rent in an expensive area for an enormous dining room. It was pretty obvious that it was a front, and the reason they chose such a large dining room was to justify to the bank how they made so much money. They're going to check your records against norms based on restaurant size.
Phyrre56 same thing here. Never anybody inside, but open year after year.
That restaurant may actually have done legitimate business as a venue for Chinese wedding parties.
I know a few of those too. Also I wonder about some high end fashion stores...at least some of them must be a front. Who is buying excessive amounts of brand named clothing for instance?
@@daviesdavies538 It doesn't take excessive amounts. Just one or two items.
The bank doesn't know or care what the businesses' square footage is. YOUR accountant DOES take your square footage, and WILL report.
As long they pay their taxes they can keep on going with their crime.
Meanwhile Jordan Belfort must be smiling watching her react to the first clip.
Finally, a college course that is actually useful.
What i actually learned is that i need to buy a nail salon and a casino..possibly a fast food restaurant
I’ve always thought mattress stores are money laundering. There are always tons of stores in close proximity and they are for the most part empty, maybe one or two customers at a time, yet they manage to stay in business.
Some are, but they also tend to sell big ticket items, so a few sales a month are enough to keep the business going.
If Mattress Firm isnt laundering money then ill eat my left foot. Theres always five within five miles of each other😂
Natalie Flowers right?! Even though mattresses are expensive it’s not like people need them all the time. They last so long. They’d have to sell a good amount to stay in business let alone turn a profit. Between rent for the building, utilities, insurance, and paying employees I just don’t see how they stay in business. Has to be something shady going on.
There's a great Freakonomics podcast episode that addresses this very topic! freakonomics.com/podcast/mattress-store-bubble/
Ulysses432 they were the same company that I’m referring to. Both Mattress Firms
You should have a recording engineer review scenes in the recording studio in movies. SO many hilarious mistakes.
"Suspicious Activity Report"- new series name lol
The fact that Arrested Development wasn't among these is criminal in itself. There's always money in the banana stand.
The breaking bad scene is one of the best scenes ever in television
"What ya want to do tonight?"
"Let's launder some money!"
"Nah I'm tired of launderin money. Let's do somethin else tonight."
"oK."
I wish someone did an in-depth review on Ozark and see how realistic it actually is. If someone has please link me the clip
The weinerschnitzle in my town had maybe 5-10 customers a day, but was always fully stocked and staffed...for at least the last 16 years. Always said they were selling drugs or laundering money. Just recently they abandoned the place in a day. Called it!
🛑STOP SNITCHIN'🛑
You don't think they closed it up because of... the pandemic???
@@SirenaSpades nah. I asked the guy who runs the shop acorss the street.
Now its just an empty building that has a blind corner drive thru.
Now there are always...creative...vehicles parked there. My county goes out of it's way to displace people and services, and then act hurt when things get worse.
21:54 yeah they're called Mattress Firm.
Earn your money the "legitimate way" by ripping off poor people.
Yup
Then launder it through art
cringe...
I don't understand what you mean by "ripping off". The closest I can think of is lobbying FUD (fear, uncertainty and doubt) about the healthiness of cigarettes which ultimately causes medical bills, poor health and a steady useless expense. And gambling, weapons, alcohol, soft drinks, food etc. are other industries that come close to "ripping off" through also lobbying FUD to both scientists, politicians, journalists and the public. And perhaps you could argue poor people generally have poorer education and are more prone to self-destructive behavior, and hypothesize that they are more vulnerable to these methods. But I think lots of rich people are fooled as well. And frankly, I think it's really hard to "rip off" anybody and get away with it. It's much easier to make money by creating mutual value.
And even then they move their money to tax heavens exept now it is to avoid taxes because you worked so hard exploiting those workers that any taxation on your millions would be totally a crime
i'm gonna get into a watch list for this
My first job out of college was working as an audit clerk at a forensic auditing firm. I was one of those guys going to the company registry offices to find all the shell companies. Not a fun job! In the end we would draw these massive diagrams on the wall of how the companies fit together. Very interesting stuff!
There's a chinese restaurant where I live. Now I've been living there for 4 years and I've never seen any guests there but I walk past that restaurant pretty much any time I leave the house so you would think that I would see at least some guests every now and then. They don't have a delivery service either. I'm really thinking there's something fishy going on there^^
😮😮
🛑 STOP SNITCHIN'🛑
I must confess, I'm only here to learn how to launder money.
Not the only one but I have no money launder
I was a decent citizen, then I watched this
Once, I went to a random barbershop for a quick haircut. There were more people "working" there than actual spots for clients. Most of them were just siting around looking at their phone and joking. And the guy who was triming my hair didn't treat me well, didn't do a good job. He didn't even talked to me. I never went back, but I've noticed they never have more than ONE client, but yet they have many "employees". That place smells like a laundromat sooo much
Pablo spent 1000 a week on rubber bands just to wrap there money
Something about this video made me feel subtly nauseous, and reading the comments made me realize it's the insane editing. Who thought it was a good idea to keep zooming in and out?
Me too. This looks like it was recorded in multiple takes without noting camera position, angle and zoom and then back-and-forth edited :/
...and they said you wouldn't learn anything useful on TH-cam...
There is a business near where I live that for the first few years I that I lived here was changing hands and opening up as something different every few months. Then about a decade ago it opened up as a tiny mexican grill. While I never see more than a few cars in the parking lot, even at the busiest times of day, it has somehow stayed open that whole time. After that first year I remember making a joke about how it was probably a money laundering front. Been ten years now.
Same! Except the one I'm thinking of is a chinese restaurant
What is this business name and address? Asking for a friend.
There's a tiny expensive shoe store at a beach side suburb near me with hardly any people traffic. It's lasted for years. I've always thought it was a front too
Solution to having too much money to handle: Charity.
I know, it's a bit backwards, but if you have that much money that it becomes a genuine liability, you could just actually donate it to charitable organizations. I highly doubt that they'll ask many questions, and if you have more money than you could reasonably spend in a lifetime, you might as well.
Me sitting here just trying to figure out how to get stacks of $50s without working, in order to get to the laundering problem.
I guess she might have atleast laundered 50 million with that kind of expertise
i saw money laundering and Narcos in the title so i naturally played the video🤷🏽♂️
I like that she believes in the efficacy of the banking system in detecting illegitimate activity. However, after reading about the HSBC money-laundering scandal and the Danske Bank scandal, I wouldn't be too sure about it. You don't need to do anything if a so-called 'reputable' bank is willing to look the other way.
I worked for a large bank and I can verify this. Never was any suspicious activity looked into whatsoever. Whenever it happened, you knew they were protected at the top
@@daviesdavies538 Exactly, I read about and watched the documentary on HSBC as part of Dirty Money on Netflix and it showed how the bank not only ignored but actively helped cartels and terrorists launder hundreds of millions.
exactly what i was thinking every time she mentioned an SAR
@@daviesdavies538 My bank is very unlike this and I've filed tons of these reports. Our general policy and coaching was fill it out and if it's nothing, that's on someone else to figure out.
I remember multiple flower shops in Los Angeles that charged exorbitant prices. Some were in affluent neighborhoods, but most of them were in less affluent neighborhoods.
Why didn't Gus Fring offer Walter a money laundering service in his contract? Walt and Jesse should have unionized.
Long John Silvers y’all. It’s been open for years and legit no one goes to it anymore in my town and everyone wonders how it remains open.
Elise W woah!!, Don’t be hating on LJS! Love them shreds on the bottom. 😂
This was my first thought too. They have 5 customers a day, and no one I've talked to has been to one in 10 years
I feel like the IRS and FBI should add this to their newbie training classes.
LOVE the focus on what media got right!
That I think is more useful information than pointing out what a specific movie with a specific scene got specifically wrong.
Correct information can be applied and generalized in other instances. Wrong information just doesn't give you anything.