Posts Tagged ‘Financing Practices’

Trade-Based Money Laundering - 2006Trade-Based Money Laundering

There are three main methods by which criminal organisations and terrorist financiers move money for the purpose of disguising its origins and integrating it into the formal economy. The first is through the use of the financial system; the second involves the physical movement of money (e.g. through the use of cash couriers); and the third is through the physical movement of goods through the trade system.

In recent years, the Financial Action Task Force has focused considerable attention on the first two of these methods. By comparison, the scope for abuse of the international trade system has received relatively little attention.

The international trade system is clearly subject to a wide range of risks and vulnerabilities that can be exploited by criminal organisations and terrorist financiers. (more…)


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Organized CrimeHow would I go about laundering money?

By Cecil Adams, 2009

It’s helpful for us law-abiding folk to understand the workings of the criminal mind. So let’s start at the beginning. Suppose you have a couple grocery bags full of ill-gotten cash. What do you do?

You don’t just spend it — Al Capone learned that the hard way when he was convicted of tax evasion. Modern bad guys understand that when large sums are involved, it’s important to make the loot appear to have been legally acquired. Money laundering accomplishes this in three steps: (1) getting the money into the financial system, called “placing,” (2) moving it around to hide the illegal taint, or “layering,” and (3) commingling it with legitimate funds, known as “integrating.” (more…)

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[Dollars in millions] Amount Authorized — Amount Outstanding as of 5/27/10
Federal Reserve [Inc.]
Revolving Credit Facility … $34,000 — $26,133
Maiden Lane II: Loan extended by Federal Reserve [Inc.] … 22,500 — 14,532
Net portfolio holdings of Maiden Lane II LLC … 0 — 15,910
Accrued interest payable to Federal Reserve [Inc.] … 0 — 342
Maiden Lane III: Loan extended by Federal Reserve [Inc.] … 30,000 — 16,206
Net portfolio holdings of Maiden Lane III LLC 3 … 0 — 23,380
Accrued interest payable to Federal Reserve [Inc.] … 0 — 427
Preferred interest in AIA Aurora LLC … 16,000 — 16,266
Accrued dividends on preferred interests in AIA Aurora LLC 0 — 125
Preferred interest in ALICO SPV … 9,000 — 9,150
Accrued dividends on preferred interests in ALICO Holdings LLC 0 — 70
Total Federal Reserve [Inc.] … 111,500 — 83,251

TARP (more…)

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The Worst Movies of the Best ActorsHurricane Harvey and Irma Relief Fund for SAG-AFTRA Members

If you need help, ask. If you can help, give.

We have all been following the tragic events of Hurricanes Harvey and Irma. Our hearts are with all of the people who have been affected in the region as they look ahead at rebuilding their lives.

The Foundation and theSAG-AFTRA Motion Picture Players Welfare Fund (MPPWF) have started a Hurricane Relief Fund to provide urgent financial support to SAG-AFTRA members and families affected by the recent storms and flooding. We are partnering with The Actors Fund to administer the relief efforts on the ground, ensuring all SAG-AFTRA members receive the help they need. (more…)

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Related imageThe Jonestown Banks
by John Judge, 1982

The assets of Jim Jones’ People’s Temple have yet to be fully accounted, but early research in the press and by independent investigators put the total between $26 million and $2 billion. Following the money leads down a twisted trail of international banks, dummy fronts, real estate investments and conflicting government reports. Various sources estimate a total of at least $17-$20 million in foreign investments, and property worth $2.5 million that passed through deed, sale and ownership from 1976 to 1979. Some $12 million dollars was deposited in mysterious accounts in Panama.

During the recent scandal involving the Vatican Bank, Bank Ambrosiana and deceased Italian financier Roberto Calvi, information surfaced indicating that some of the siphoned millions went to Panamanian (more…)

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Image result for nugan hand bankMore CIA Treachery: Nugan Hand Bank Ltd
By Elias Alias, 2015

This latest version of the selected excerpts from Alfred McCoy’s masterpiece on the CIA’s dope dealing escapades is more complete than previous postings. I have typed in passages from pages 461-472 in Alfred W. McCoy’s bombshell book, “The Politics of Heroin: CIA Complicity In The Drug Trade“, (1991; first edition 1972.)

At 4:00 a.m. on January 27, 1980, a state police officer patrolling a country road west of Sydney, Australia, noticed a late-model Mercedes sedan parked by the side of the road and stopped to examine it. Inside the constable found the body of a middle-aged male slumped forward, still holding the rifle he had apparently used […] Searching his wallet, the police found personal identification for one Frank Nugan, a merchant banker of Sydney, and a calling card from one William Colby, a New York lawyer who had recently retired as director of the U.S. Central Intelligence Agency.

The circumstances of Nugan’s [death] and the bank’s spectacular collapse only six months later have inspired hundreds of press probes, three major Australian government investigations, and a lengthy (more…)

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