What is money laundering? - MoneyWeek Investment Tutorial
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- เผยแพร่เมื่อ 29 มี.ค. 2012
- Money laundering is any activity that tries to convert the proceeds of crime into legitimate money. Tim Bennett explains how you can avoid getting caught up in it.
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MoneyWeek videos are designed to help you become a better investor, and to give you a better understanding of the markets. They’re aimed at both beginners and more experienced investors.
In all our videos we explain things in an easy-to-understand way. Some videos are about important ideas and concepts. Others are about investment stories and themes in the news. The emphasis is on clarity and brevity. We don’t want to waste your time with a 20-minute video that could easily be so much shorter.
well, it is very easy. It is when you earn money from illegal activities and then you put in inside a laundry machine and start to laundry your money. That is Money laundering.
Hahahahahaha
Lol
...or you could better call Saul, he can explain.
lol
Bender Bending Rodriguez smfh.
Imagine you have a daughter doing a lemonade stand and then you put that money in the bank. They have no clue how you got that money and bam 14 years in prison
xD
😂
Love this channel..money laundering, hedge funds, taxes...this is gold
Ozark brought me here.
Clint Golub Money laundering 101 , same same
Clint Golub true
same here ozark got me into wanting to know more abt this
Mee too
🥳
Traditional banks are heavily regulated by AML/KYC (anti-money-laundering/know-your-customer) regulations, requiring them to identify each customer through due diligence such as passport, driver license, proof of address, etc. Your eNumbered account is not a 'bank account', but an 'e-currency account' similar to Paypal or Liberty Reserve offshorecompanysetup biz
very good presentation... should we be concerned about this guys knowledge? haha
Better Call Saul!
I am so confused already watched breaking bad. Literally just so confused, so you invest your dirty money (1 Million) into a business and then later on take back 750,000 but when the law catches up with you "where did you originally get this 750,000 or 1 Million dollars from, what the hell do you say
thanks i never knew the true meaning of money laundering until I'd seen this vid. excellent!
Banks make millions from the drugs trade. Ive heard some pretty serious financial/investment advisors say that drug money has helped stablise and kept many a bank solvent.
Also now that youve brought up Euro bonds ive heard politicians talk about the 500 euro note was brought out to compete with dollars for criminals. And from the sounds of things the euro-bonds were created for the same thing. Those sneeky EU bureaucrats. Setting up a system to take advantage of illegal activity
Hmmm and here we our today
Excellent. Totally a great presentation
That was very well explained and of course, very interesting.
If money laundry is a crime, shouldn't highways be closed down because one can traffic dope on them. There is not such a thing as dirty money, there is only dirty people.
very smart comment /s
excellent videos. easy to understand, and Tim is quite a good lecturer here.
excellent video Tim - thank you. Great enthusiasm, engaging talk, good connection...only one thought, could you be a bit slow in some places. Great vidoe again Tim. Thank you.
really like the presenter, clear funny and concise
My goodness, Tim Bennett you kingpin you! ;p
Thanks for the video.
Thanks for this excellent tutorial!
Thanks for a great video.
Very helpful! 👍
would be cool tim if you linked your other videos that you mention either in the description or on screen as a link. noticed this in alot of your videos actually..
Good vid,very informative
I’m Nigerian. I didn’t know we could all do this 7:55 - 8:20 😄
An excellent explanation and presentation.
Excellent. Great knowledge.
Thanks for the video. You are very good.
Brilliant, thank you
these vids are brilliant
How many more visits has this had because of Breaking Bad
Very well explained.
Great .... and very usefull
Well if I was a money launder I would get give money to a homeless in return to to give me back 70% of the money back. But I would also not just give money to a builders contractor but other businesses since mostly every business can have individuals as small contractors. But I'm pretty sure crime has thought these ideas and everything here has been outdated. Hahah well hope the the law can at least keep up with crime. I do hope ppl stop being dependent on stuff not just drugs or crimes but things like food water and power. Alot of ropes and laws get bypassed in those areas too. Ahh I wish shit was more simple and less destructive and even less on individual agendas. This worlds is becoming huge with more ppl it sucks we have dividing lines, free speech gets a bad rep and usually stuff spoken there never gets done
+likahmac I don't think giving money to the homeless is a good idea, they have no credentials and there is no guarantee you will get anything back from them. Of course we act on self-serving agendas, it's in our nature to be selfish. Good example: would your save a stranger if it meant killing yourself? Most people would say no, and that's completely normal. It is when that selfishness becomes more offensive than defensive that issues occur.
Better call saul!!
***** Season 2.5 ish, they dont state it explicitly, but its simple enough...
the way he says "hot money" from a dodgy deal at 1:39
Love the video
I wonder why there are no barcode on the notes. If the notes passes thru bank the trail can easily be done while counting machine with barcode reader incorprated.
@JACK JOE
I think you didn't get the point. Dirty money is basically money that cannot easily be spent because it's from a crime. For example if I robbed a bank and would get off with say 1 million dollars then I couldn't just deposit that money on my bank account. My bank would immediately notify the police and I would be screwed. But I can turn my dirty money into clean money by opening up a business and thus disguising the inital source of the money (the bank robbery). You cannot launder money by driving down the highway :)
David Müller but explain WHY the bank would call the police .They obviously don't know where you got it from.
Dan Lord i tink thats the point, they have no idea how u simply made one million out of nowhere so they have to assume its dirty money i guess ?
Mack Joe you still be asked where you initially got the money to start the business. It's so easy to trace money laundering by the experts.
Low key finance gangster godfather
very well done video, thanks
hi
Tax evasion is really "pretty nasty stuff"
The movie the Infiltrator got me here
This is why banks need to owned by Government not Private Sources; or heavily regulated...
If I had a credit card and used it to purchase a high valued item (H) to then resell the item (H) at a much higher price to pay back my credit plus make a little extra, in the sense of making money off Credit. Is this Money Laundering or illegal?
No, pawn shops do that all the time
Not with a credit card though
VideoGameLegend thanks for the reply, I appreciate it.
compound32 No problem
What if I only have say $75,000? Do I still have to conceal the origin of the dirty money, or is that only with really big amounts like millions? Someone please reply, I'm a bit confused here
Safwan Nizam There's no lower limit, but if someone sells 5 bags of marijuana for $100.00 each just one time, it's unlikely to attract attention if he deposits that into his checking account, because he can claim he won $500.00 on a lottery ticket. If that person sells marijuana regularly and has $75,000 after two years, it will attract attention if he tries to deposit it into his account in one transaction.
john tracy Ok, thanks for the reply
Johntracy because he would get audited by the bank,right?
@@johntracy72 Aren't casinos an easier way to do it? Let's say you have 50k/month from selling drugs. Can't you just go to the casino put in 600k and take 400k out?
I like that your accent is quite similar to Martin Freeman's
can we get accused of money laundering for watching this video? and what is the sentencing for that?
Can u explain why my bank won't let me put money in my partners bank account, I was told it is to prevent money laundering but no bank can explain how stopping 3rd parties will actually stop this... If anything they are telling me to put the money in my account and then transfer it which sounds like they are helping laundering by forcing more layering...
No.. they are forcing you to create a trail for them... so if for some reason, they want to call in an investigation, it will give them the firm foundation to launch a legal prob
If im a business owner and a crook loans me £1m, aren't the banks going to be pretty interested to know where I got that money?
if you sold euro bonds, you'd get actual cash instead, yet the source of that money you have know acquiered is still not automatically legitimate... what are you going to say to the authorities? that you found an abandoned getaway car full of something of worth and sold them for cash? the money won't be yours to keep. Right?
could someone explain something to me please? i have heard alot of people say that you have to invest in assets to clean your money,but if you invest in assets such as property then that in itself is an expenditure of large amounts of money and surely that initial investment can be investigated? it seems like you're screwed before you start to me or am i wrong? please let me know
I dont get it too. To make clean many, youve gotta spend dirty money.
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA exactly...
Maybe you need some clean money to launch money laundry. You can take credit also.
I think it depends on the type of asset. A business for example that you do not have to be the sole proprietor of. Make said business look profitable and eventually spread your money elsewhere. Of course when I say this I'm only speculating using from what I was able to understand in the video. But it should be an asset that won't attract alot of attention right away from the SEC or the IRS
that makes sense, lol i just was thinking that if a person were to start buying houses but on the books they have no income they're be flagged instantly. But you could start a small business and intentionally declare small profits at the beginning, then increase dramatically. i hope i have the right idea, thanks for explaining that :)
My family is such good business people we don't need to launder money.
welcome to mafia 101
PLEASE POST SOME MORE VIDEOS ON THIS TOPIC
I was watching breaking bad.
Mexican food truck. And use velveta cheese just to make it extra artificial.
in norway its "up to one year in prison" lol
TIME TO LAUNDER SOME MONAY!
Olaq Stenner dam no wonder the wolf of Wall Street took his shit there 😂
1:24 :turns off the video
Died money laundering?
and what about if I personnally want to be a money launder??? have you clients for me???
dont they buy small business and just declare profits thru these?
And why youtube would mess up office space....
same here.
lol John Grisham brought me here
Why is there so much spam in these videos comments?!
You never answered point 2: How is money (equal to Spanish GDP) "lost" to money laundering?
Also, is there a difference between Hot Money and Dirty Money? It seems like you're mixing metaphors. Dirty money should be laundered. Hot money should be cooled.
he is saying i prefer to call it hot money.. it's just a metaphor
so if i find 20 bucks in my pocket, did i just launder it?
Was the E20 obtained from criminal activit?
So apparently not anyone can be arrested for money laundering any more.
Great! To anybody that is set on making money, you have to check this out. Google the words Lazy Loot Loophole. On condition that you seriously want to earn money though!
Ohh, a passport in the Shadows!!!
What college major studies these topics ?
Shawn Afshar none.
So if someone wants to give me $200,000 and I accept it into my account, you mean now I could be possibly be involved in $ laundering? So how do I find out if it is legal or not beforehand?
*****
I turned it down, now I'm poor again.karma?
+seeamerica1 LMFAO probably a prince from Nigeria.
Office Space
Correction;
nooooo
it does NOT involve a washing machine
one washes one s dirty laundry ..by, emm, buying a new set of clothes methinks-
Oh we know what got money is😏
Buy more diamonds for your wife n write the figure bigger to escape taxes !!! Hahaha !!!
Not many directors or co's seem to be in prison !! For laundering cash.
@NicosMind
utube : birth certificate what are you worth
they securitise the account receivables of the berth trust ie the name on the berth certficate
and trade those securities on the stock market ..every loan we create ..yes we create the credit ...is also securitised and traded ..
google prison bonds cca
utube : birth certificate our status
Did the prince get caught?
I show this to my friend and he still denied that this is money laundering. He kept saying that money laundering is printing money and this process is stupid and just a myth. fucking skeptic
Thanks for the good info and here are some suggestions. 1: It's way to long and repetitive. Try to do the whole thing in half the time. 2: More show, less tell. A picture's worth 1000 words, so use a few charts etc. (I remove red the "14 years, Coutts & Co. and Spain's GDP") 3: KIS (Keep It Simple). ie; "Robert De Niro was in great movie called 'Heat' where the money launders blew up a van full of Euro bonds'. Don't say "This isn't a video trying to sell you a movie".Many Thx 4 the info!
Hey, have you heard of this program called the Intellitus Cash System? (google it). My coworker says it gets people oodles of money.
This guy is wasting time with a poor explanation. Usually money laundering is done to hide illegal income or avoid taxes. In case of illegal income e.g drugs trade, the money is in hard cash. The person involved in this trade needs to spend his money on buying assets, and living it up, and he cannot always use cash - especially if the amounts are huge. So this cash needs to be brought into the banking cycle (placement). This is the reason most main street banks have restrictions on cash deposits - in older days it was easier. So this cash is generally flown off to a tax haven, which has banks that do not ask difficult questions. Hence the need for tax havens - there are literally a supermarket of tax havens to choose from. The cash is deposited into a cooperative bank at a tax haven, who has corresponding banking relations with main street banks. For purpose of transfer to a main street bank, the person enters into a fictitious transaction or even a genuine purchase under an different name or company. Now he has a legitimate asset in a jurisdiction he needs the money. He can sell the asset and use the proceeds for other activities as the person needs (layering and integration). Often the assets purchased are financial assets, eg bonds, shares etc. as these are easily sale able without need for rerouting the money. This is done several ways each time. One of the best example was money laundering where the US government was involved in funding the Israeli war. So US air force bought aluminum bottles filled with gas from Israel. It paid for the gas and returned the aluminum bottles, but just let out a little gas before returning the bottles. This way the same bottles were paid for, with very little gas being spent, over and over and over again!
Thanks, you cleared up some questions the guy in the video did not answer.
:-)
Surely the US just gives money in more open ways to the Israeli's? Which Israeli war are you referring to?
US cannot give opening because of US need for Saudis, so it gives covertly, it even sells weapons via Britain (BAE) but Israelis have powerful lobby in US so most money goes via them
Benjamin Fonseka
Of course they give money openly, its called Loan Guarantees. 2 billion dollars a year gets approved by congress, the Israelis never pay the money back and the debts are 'forgiven' so it is money for nothing.
Wow I just saw this old video after 6 years!!!
SO why is Trump still walking around and threatening the world!!??
Wash your money in the washing machine n make it legalise !!!
you actually do need a washing machine becomes crimnals are dirty ( poop ) on thier hands they have bad social manners.
I think people are so dumb for thinking that you need a washmachine :/
look this concept is a process in system the phrases is concept not end by it self as object in ontology. it's causes and effects has special relationship with all individual's, family, frined neboures village ,race groups , cite , country and all country's geographical entity attributes and act . so it cause is close and open spots...now mostly exists or practically exists in business and economy with above interaction like faking resources to using consumer gap implementation stage is process through various platform to circulate the product i.e ...paper money or wire money .any how no economist or social mathematical or tec human no logical i.e technolgy have a darfts for the philosophy of money laundering with all humans history of change or development they dare others practitioners with fears and morality of economy models .atypical of showing how today's schools obsesed and tied by dogma of academic concept laundering .i.e. tools for money loundering this includes budget ,aid procurement ,earning
What I said was also a joke.
My only 19% please don't run my taxes, poor country !!! Need to buy top grade medical equipment !!!
fuck that I'll take cash
Where is the money 🤓
He was just kidding
Correction: I remembered "14 years, Coutts & Co. and Spain's GDP" because of your visuals. And 4: With serious topics, cut the humour. "Can anyone guess what 14 yrs . . . I'm stuck in this little video room and you're out there). 5: Get professionals (not friends) to tell you what to cut and what to put in a Movies go thru many edits before they're released.
Imagine imagine
Salam
it was a joke
two words - japanese yakuza
If I was a big time drug dealer and made millions of dollars I'd just buy a shit ton of gold and bury most of it in a hole under my house 🏡 and dig it up when I need it and trade it for other assets I want
I always thought it ment when you accidently leave your money in your pockets and you put them in the dryer.... wow i cant belive how retarted and gay i was...
just answer the damn question. start with the answer, and then do your rambling.