CRIM 412 Lecture Notes - Lecture 17: Structuring
Document Summary
The process of creating the appearance that large amounts of money obtained from a variety of serious crimes originated from a legitimate source. Techniques were developed and refined during prohibition. Compels the gangster to seek out and co-opt established businessmen and women with the highly technical skill sets to participate to launder their money. Methods range from simple techniques requiring minimal expertise to complex methods requiring additional coordination and sophistication. In canada, money laundering is directly related to the war on drugs and against terrorism. It is estimated that the black market for drugs, tobacco, mortgage frauds human trafficking and other forms of organized crime in canada is close to. billion a year of which 70% is laundered (rcmp, 2017) Involves the cooperation of mortgage industry insiders. The acceptance of false personal or financial information, inaccurate appraisals, illegal transfer of mortgage funds.
