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This 3 page paper examines the technique of money laundering and explains the three phase process. Most of the paper examined the impact of money laundering on society. ibliography lists 3 sources.
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3 pages (~225 words per page)
File: RT13_SA646ml.rtf
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2006). Many are familiar with the term and correctly associate it with organized crime. Today, money laundering is aligned with the Russian Mafia and Wilson (1997) claims that there are
in fact reports that the Russian Mafia is far ahead of its well known Italian counterpart in terms of size and sophistication. The Russians rely on illegal trade and operatives
also have been known to form alliances with South American drug cartels (Wilson, 1997). Money laundering is prevalent in organized crime rings, including but not limited to La Cosa Nostra,
and is a big problem. II. Money Laundering and Society It is thought that money laundering accounts for about two to five percent of the globes domestic product
(Varrone, 2000; "Money Laundering FAQ," 2006). In 2000, that accounts for approximately $600 billion (Varrone, 2000). Because launderers are always looking for new avenues in which to do business, struggling
nations are vulnerable to such schemes ("Money Laundering FAQ," 2006). The money is significant and it can alter economics throughout the world. The problem is that when small countries accept
these deals, they are in part responsible for the spread of organized crime ("Money Laundering FAQ," 2006). Organized crime in society hurts the culture. It to some extent allows concepts
of wealth to harm society as well as to present a desirable image of gangsters. Indeed, gangsters are glorified in media and the success of HBOs The Sopranos is evidence
of this. In the end society loses. Money laundering in the context of organized crime can ultimately hurt the society by lowering ethical standards and even corrupting governments ("Money Laundering
FAQ," 2006). One can see that money laundering, an illegal practice, only serves to hurt society. It allows criminal activity to go on without being stopped. What happens is that
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