Encyclopedia of Criminology and Criminal Justice

2014 Edition
| Editors: Gerben Bruinsma, David Weisburd

Money Laundering

  • Brigitte Unger
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-5690-2_439




Laundering money entails disguising the illicit origins of proceeds of financial manipulation, drug trade, fraud, corrupt enrichment, or other crimes, bringing back money into the financial circuit of the legal economy. Some underlying misbehavior, the so-called predicate offense generates illicit gains which are to be turned legal. Hiding or disguising the source of these proceeds will not amount to money laundering unless they were obtained from a criminal activity (Busuioc 2007).

Predicate offenses for laundering can be “hard” crime involving drugs or violence, but may also be white collar crimes, such as illicit real estate dealings, fraud and embezzlement, and finally tax fraud and tax evasion. Laundering the resulting (typically large amounts of) money can be achieved through fake invoicing for exports and imports or unusually priced real estate transactions. Disguising is further attempted through pumping money around foreign banks (typically in tax...

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Recommended Reading and References

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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  1. 1.Utrecht University School of EconomicsUtrechtThe Netherlands