An organization that sets international standards for the prevention of money laundering and terrorist financing. FATF; It blacklists countries that do not heed its recommendations and graylists those that partially comply. Turkish, In the fight against black money since October 2021 in the gray list is located.

in 2021 2 thousand 400 Turkish publishers about 10 million dollars on charges of money laundering Twitch After the huge operation launched for the platform, this time some phenomena through TikTok 1.2 billion lire It was announced that he was laundering money. So what is this money laundering? What does Al Capone have to do with it? What can an ordinary washing machine have in common with a crime machine?

A historical crime that existed before the name was revealed!

For economic benefit committing crimes must be at least as old as human history. For example, those who lived between 2025 and 612 BC of the Assyrians Scientists who have examined the remaining historical ruins and tablets have obtained the findings that the merchants who wanted to avoid the taxes to be paid to the state on the goods to be exported to Anatolia hid their income with false documents.

Expressed as ‘illegal income’ also black money Before entering literature, it has found its place in historically written sources. Incorporating illegally obtained income into the economic and financial system by demonstrating that it was obtained legally, in other words legitimizing black money. money laundering is defined as.

Al Capone as the father of money laundering:

Here is the origin of this phrase, A common laundromat in the US of the 1920s. What makes that laundry extraordinary is one of the most notorious criminals in history. Al Caponebe owned by. Al Capone, who pretends to get the income from the mob scheme and the illegal activities he has set up from the laundry companies, is a money launderer. father of concept is counted.

Al Capone, who could not be prosecuted with this method because he left no trace in the beginning, said:Two things are certain in life; death and tax.” who says Benjamin FranklinHe was rightly caught in tax evasion. The presence of laundries at the center of all these events has been referred to in the literature as ‘laundering/cleaning/money laundering’.Money launderingcoined the term.

More than a metaphor: Laundry

So why the laundromat? Because it works in cash, so it’s hard to follow. The price and number of services provided can easily be inflated. Most importantly, it can legally introduce large amounts of black money into the financial system by breaking it down into small amounts and breaking it down into transactions.

In the past, black money, which was usually exchanged and distributed in cash, found its place on the blockchain and on social media platforms such as Twitch and TikTok with today’s technology. So today more than 180 supposed to be money laundering methods It is possible to divide them into two groups, classic and cyber.

Money laundering methods:

First, none of these methods investment advice Let’s say it isn’t and it’s a crime. The first method you already learned from Al Capone above: such as a laundromat, casino, restaurant or taxi stand. front companies inflate income. You can also look at companies that you didn’t see customers for once and wonder how they survive in the current economic conditions.

In addition, another method is known from the Özal period in Turkish Economy 101. fictional trade. In this method, commercial invoices appear higher or lower than they actually are, guaranteeing both money laundering and the difference.

According to these two methods, there is another way which is riskier but more spectacular. Room luxurious life. Black money can be introduced into the system by investing in products such as jewelry and gold that can be easily taken abroad, or by making cash purchases of securities such as real estate, stocks and bonds, and antiques. However, let us underline that exchanging large amounts of money for cash in buying and selling transactions also has a triggering effect on the control mechanism.

Another method that was preferred in the past but fell out of favor with the evolving control mechanisms is the ‘smurfs‘ Good money launderer Smurf method. The large amount of laundered money being laundered here is divided into the amount set as an official limit to evade reporting obligations, and this amount is unobtrusively deposited into the accounts of more than one person at various times.

One of the most famous methods is offshore i.e. offshore banking. It wouldn’t be wrong to say that this is the reason for the existence of many island states, which we know about thanks to Wikileaks leaks.

To have a unique and highly independent financial system, independent of the controls and regulations to which the traditional banking system is subject, Cayman Islands They can be considered an excellent stopper for black money as the source of the money is not sought after in offshore centers like offshore centers.

Latest Money Laundering Trend: Cyber ​​Money Laundering

Smart cards, electronic money, e-commerce and online stock market transactions… Digital financial instruments, which have diversified with increasing internet access, have eliminated the physical movement of large amounts of cash, the biggest problem faced by money launderers. internet bankingThanks to virtual cards, convenient transfer methods and 24-hour access, money laundering has become an act that can be carried out regardless of place and time.

Illegal stake websites, online NFT auctions, electronic commerce donation organizations organized using websites or Twitch There are already many different ways of cyber money laundering in the form of online purchases, for example. If you’re having a hard time imagining this whole tricky process, here’s a nice commentary on this murky subject with Juan M. Urbina’s lines. by Delena D. Spann You can watch the video below.