It Takes Two to do Money Laundering

One form of illegal activity that relies on the participation of more than one individual is money laundering. With the information age and Internet technology at their hands, money laundering is accomplished much easier than in the old days, but it still requires more than one person to do the dirty laundry.

Crooks are recruiting the ignorant to do the task for them and probably paying less than they did in the past to get it done. Now there are those who are attempting to outsmart the crooks, but in the process have become a crook themselves.

One example is a story of a fellow who figured he had outsmarted a crook that got him involved in money laundering. The crook sent the individual money using PayPal. The individual waited for the PayPal verification to confirm he indeed received the monies.

As per the crooks instructions he was supposed to forward all of the monies to the crook through Western Union, less the agreed percentage. Not wanting to comply he transferred the funds from his PayPal account into his own bank account, and then he closed his PayPal account. He never sent the crook the monies through Western Union. So, who is the crook now?

The fellow thinks he outsmarted the crook in that he now has all the money. Problem is, his assumption has major flaws in it, and he is now left holding the money bag which will be traced down by the authorities.

Moral of the story? Attempting to outsmart a crook by receiving funds from them and then closing your account might keep the crook away if he doesn't know where you live, but it won't keep the authorities from busting down your front door! The best way to outsmart a crook is to first off not get involved, and secondly report them to the authorities!

© November 2006 Author: Tammara Nelson
Copying, Publishing, or Re-Creating Article is Prohibited and a Violation of Copyright Laws

4 comments:

Abhishek Tupe said...

Hi Tammra,

I dont know what to say...... but you are doing a great job by writing all these posts and making people aware of the things that they should know..... and without charging any value for it....I do not know whether you do a kind of a business and you are getting more clientele base because of the posts.....but honestly I dont care because it really gives a lot of information which is quite essential in peoples lives.....good job!!!

Tammara Nelson said...

Hi Abhishek,

Thank you so much for the compliment! It's much appreciated. There are many times when I write a post for this blog that I feel the information is just so boring that no one would want to read it, but yet I know it is valuable information that may help someone. If it only helps to save one person from a huge mistake in their life then it's all worth it.

Otherwise, in response to your question about pay the only financial gain to me for doing so comes from some advertising on this blog, although the revenue from that is minimal. I don't have a client base I write for. My payback is simply knowing that the information I provide just may be of value to someone some day. Thanks again for your comment -- I feel like I just got paid for my efforts! :-)

Abhishek Tupe said...

That's really great job!! you know we were doing just a research for a fornsic company in India and for that we were required to cite the examples of money laundering!! and that's when I saw your posts and felt that actually these are quite essential things which one cant and should not ignore..... and was wondering whether if needed an extended help on the subject can I contact you?? any help on the subject would be more than helpful

Having said the above I truly appreciate the recent post "Its nice to get your comments". Regarding the boring content do not worry, people are always ignorant about these facts..... it should not deter you from writing. Please keep writing!!!

Once again a good Job!!!

Tammara Nelson said...

Hi Abhishek,
Thanks for stopping by again! :-) If you have other questions about money laundering you are always welcome to post them here as a comment or on one of the other posts about money laundering.
Your research project sounds like interesting work.

The "money laundering" link is in the sidebar under the categories, but here is the link to that category if you didn't already locate it.

http://phishy-pedia.blogspot.com/search/label/Money%20Laundering

Have a great week!