Search results
Results From The WOW.Com Content Network
Ukuthwala is the South African term for bride kidnapping, the practice of a man abducting a young girl and forcing her into marriage, often without the consent of her parents. [1] These "marriages by capture" occur mainly in rural parts of South Africa, in particular the Eastern Cape and KwaZulu-Natal . [ 2 ]
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
Money laundering is broadly defined in the UK. [81] In effect any handling or involvement with any proceeds of any crime (or monies or assets representing the proceeds of crime) can be a money laundering offence. An offender's possession of the proceeds of his own crime falls within the UK definition of money laundering. [82]
Now they are being targeted by a New York watchdog group that supports a bill that would bring more transparency to LLCs to prevent them from becoming “shell companies” for money laundering.
Illicit financial flows, in economics, are a form of illegal capital flight that occurs when money is illegally earned, transferred, or spent. This money is intended to disappear from any record in the country of origin, and earnings on the stock of illicit financial flows outside a country generally do not return to the country of origin.
This is an Act of the United States Congress that made money laundering a federal crime. It criminalized money laundering for the first time in the United States. [34] Established money laundering as a federal crime; Prohibited structuring transactions to evade CTR filings; Introduced civil and criminal forfeiture for BSA violations and other ...
The Money Laundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made money laundering a federal crime. It was passed in 1986. It consists of two sections, 18 U.S.C. § 1956 and 18 U.S.C. § 1957. It for the first time in the United States criminalized money laundering.
The larger crime may be racketeering, money laundering, financing of terrorism, etc. [1] For example, to violate the Racketeer Influenced and Corrupt Organization Act (RICO), a person must "engage in a pattern of racketeering activity", and in particular, must have committed at least two predicate crimes within 10 years. [ 2 ]