What Are the Different Types of Money Laundering?
Money laundering is a way for criminals to hide the cash proceeds of their illegal schemes. There are several different types of money laundering. They include using shell companies, small bank deposits, and regular, consistent bank deposits. One of the most common ways to perform money laundering may be creating a shell company or business. This type of business is usually set up so that it is difficult to monitor cash flow. Businesses that provide services instead of selling physical goods may be able to circumvent the need to provide receipts or reports of money gained and spent. The business would typically be one in which accepting cash as a form of payment is not uncommon. Examples may include mechanics, landscapers, or hairstylists.
