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Money laundering is the process of concealing the origin of money, often obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime.
Organized crime is a category of transnational, national, or local groupings of highly centralized enterprises run by criminals to engage in illegal activity, most commonly for profit. While organized crime is generally thought of as a form of illegal business, some criminal organizations, such as terrorist groups, rebel forces, and separatists, are politically motivated. Sometimes criminal organizations force people to do business with them, such as when a gang extorts money from shopkeepers for "protection". Street gangs may often be deemed organized crime groups or, under stricter definitions of organized crime, may become disciplined enough to be considered organized. A criminal organization can also be referred to as a gang, mafia, mob, ring, or syndicate; the network, subculture, and community of criminals involved in organized crime may be referred to as the underworld or gangland. Sociologists sometimes specifically distinguish a "mafia" as a type of organized crime group that specializes in the supply of extra-legal protection and quasi-law enforcement. Academic studies of the original "Mafia", the Sicilian Mafia, which predates the other groups, generated an economic study of organized crime groups and exerted great influence on studies of the Russian mafia, the Chinese Triads, the Hong Kong Triads, and the Japanese Yakuza.
The Racketeer Influenced and Corrupt Organizations (RICO) Act is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization.
Kleptocracy is a government whose corrupt leaders (kleptocrats) use political power to appropriate the wealth of the people and land they govern, typically by embezzling or misappropriating government funds at the expense of the wider population. Thievocracy means literally the rule by thievery and is a term used synonymously to kleptocracy. One feature of political-based socioeconomic thievery is that there is often no public announcement explaining or apologizing for misappropriations, nor any legal charges or punishment levied against the offenders.
The illegal drug trade or drug trafficking is a global black market dedicated to the cultivation, manufacture, distribution and sale of prohibited drugs. Most jurisdictions prohibit trade, except under license, of many types of drugs through the use of drug prohibition laws. The think tank Global Financial Integrity's Transnational Crime and the Developing World report estimates the size of the global illicit drug market between US$426 and US$652 billion in 2014 alone. With a world GDP of US$78 trillion in the same year, the illegal drug trade may be estimated as nearly 1% of total global trade. Consumption of illegal drugs is widespread globally and it remains very difficult for local authorities to thwart its popularity.
Transnational organized crime (TOC) is organized crime coordinated across national borders, involving groups or markets of individuals working in more than one country to plan and execute illegal business ventures. In order to achieve their goals, these criminal groups use systematic violence and corruption. Common transnational organized crimes include conveying drugs, conveying arms, trafficking for sex, toxic waste disposal, materials theft and poaching.
The funding of Hezbollah comes from Lebanese business groups, private persons, businessmen, the Lebanese diaspora involved in African diamond exploration, other Islamic groups and countries, and the taxes paid by the Shia Lebanese. Hezbollah says that the main source of its income comes from its own investment portfolios and donations by Muslims.
Financial crime is crime committed against property, involving the unlawful conversion of the ownership of property to one's own personal use and benefit. Financial crimes may involve fraud ; theft; scams or confidence tricks; tax evasion; bribery; sedition; embezzlement; identity theft; money laundering; and forgery and counterfeiting, including the production of counterfeit money and consumer goods.
Operation Greenback was a Miami, Florida-based, multi-agency U.S. government task force targeting money laundering connected to drug trafficking.
The Israeli mafia are the organized crime groups operating in Israel or consisting of Israeli members. There are 16 crime families operating in Israel, five major groups active on the national level and 11 smaller organizations. There are six Maghrebi Jewish crime families active and three Arab crime families. Many heads and members of the crime groups have either been killed or are in prison.
Tareck Zaidan El Aissami Maddah is a Venezuelan politician serving as Minister of Industries and National Production since 14 June 2018, and as Minister of Petroleum since 27 April 2020. He previously was Minister of the Interior and Justice from 2008 to 2012, Governor of Aragua from 2012 to 2017 and the vice president of Venezuela from 2017 to 2018. While holding that office, El Aissami faced allegations of participating in corruption, money laundering and drug trafficking. In 2019, U.S. Immigration and Customs Enforcement (ICE) added El Aissami to the ICE Most Wanted List, listed by the Homeland Security Investigations unit.
The level of corruption in Venezuela is very high by world standards and is prevalent throughout many levels of Venezuelan society. Discovery of oil in Venezuela in the early 20th century has worsened political corruption. The large amount of corruption and mismanagement in the country has resulted in severe economic difficulties, part of the crisis in Bolivarian Venezuela. Transparency International's 2019 Corruption Perception Index ranks the country in 173rd place out of 180 countries.
Juan Orlando Hernández Alvarado is a Honduran politician and drug dealer, who was President of Honduras from 27 January 2014 to 27 January 2022.
Illegal drug trade in Venezuela is the practice of illegal drug trading in Venezuela. Venezuela has been a path to the United States for illegal drugs originating in Colombia, through Central America and Mexico and Caribbean countries such as Haiti, the Dominican Republic, and Puerto Rico.
Crime in Venezuela is widespread, with violent crimes such as murder and kidnapping increasing annually. In 2014, the United Nations attributed crime to the poor political and economic environment in the country—which, at the time, had the second highest murder rate in the world. Rates of crime rapidly began to increase during the presidency of Hugo Chávez due to the institutional instability of his Bolivarian government, underfunding of police resources, and severe inequality. Chávez's government sought a cultural hegemony by promoting class conflict and social fragmentation, which in turn encouraged "criminal gangs to kill, kidnap, rob and extort". Upon Chávez's death in 2013, Venezuela was ranked the most insecure nation in the world by Gallup.
The Narcosobrinos affair is the situation of events that surrounded two nephews of Venezuelan President Nicolás Maduro and his wife Cilia Flores who were arrested for narcotics trafficking. The nephews, Efraín Antonio Campo Flores and Francisco Flores de Freitas, were arrested on 10 November 2015 by the United States Drug Enforcement Administration in Port-au-Prince, Haiti after attempting to transport 800 kilograms of cocaine into the United States. A year later on 18 November 2016, the two nephews were found guilty, with the cash allegedly destined to "help their family stay in power". On 14 December 2017, the two were sentenced to 18 years of imprisonment.
Geoffrey Steven Berman is an American attorney who served as the United States Attorney for the Southern District of New York from 2018 to 2020.
During the crisis in Venezuela, governments of the United States, the European Union, Canada, Mexico, Panama and Switzerland applied individual sanctions against people associated with the administration of Nicolás Maduro. The sanctions were in response to repression during the 2014 Venezuelan protests and the 2017 Venezuelan protests, and activities during the 2017 Venezuelan Constituent Assembly election and the 2018 Venezuelan presidential election. Sanctions were placed on current and former government officials, including members of the Supreme Tribunal of Justice (TSJ) and the 2017 Constituent National Assembly (ANC), members of the military and security forces, and private individuals accused of being involved in human rights abuses, corruption, degradation in the rule of law and repression of democracy.
Alex Nain Saab Morán is a Colombian businessman. Saab was the subject of journalistic investigations for conducting businesses estimated at US$135 million with the Venezuelan government, while other Colombian businessmen had stopped exporting to Venezuela due to uncertainty regarding payments and tight exchange controls. Saab's name has appeared in multiple ICIJ leaks including the Panama Papers, Pandora Papers and the FinCEN Files.
Hawala and crime describes notable examples of hawala used in money laundering.
References
- 1 2 3 4 Van Voris, Bob (18 November 2019). "Professor Who Wrote Book on Drug Crime Is Accused of Money Laundering". Bloomberg LP. Retrieved 19 November 2019.
- 1 2 3 4 "Professor who is expert on corruption charged with laundering money". The Guardian. 19 November 2019. Retrieved 19 November 2019.
- 1 2 3 4 5 "Dr Bruce Bagley". Swansea University. Retrieved 20 November 2019.
- ↑ "Bruce Michael Bagley". University of Miami. Retrieved 20 November 2019.
- 1 2 "UM professor pleads guilty to laundering $2 million from Venezuelan corruption money". Miami Herald. Retrieved 15 July 2021.
- ↑ Patel, Vimal (2021-11-17). "Professor Cited as Corruption Expert Is Sentenced for Money Laundering". The New York Times. ISSN 0362-4331 . Retrieved 2021-11-21.
- ↑ "Court filings: Maduro ally met with US prior to arrest". AP NEWS. 2021-11-10. Retrieved 2021-11-11.
- ↑ Cohen, Luc; Ulmer, Alexandra (2021-11-11). "Maduro ally Saab met with U.S. law enforcement years ago, court records show". Reuters. Retrieved 2021-11-11.
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