1, deposit, that is, deposit illegally obtained cash in the bank;
2. Through a series of complicated transactions, such as bank transfer, cash and securities transactions, transnational fund transfer, etc. Cover up the real source of money and legalize it;
3. Return funds to criminals in a legal form. In addition, there are many other ways of money laundering, such as buying real estate, jewelry, antiques and so on. And then convert them into cash or other financial assets.
Extended data:
The subject of money laundering crime is financial institutions or individuals, and there are five kinds of behaviors:
(1) Provide a capital account.
(2) Assist in converting property into cash, financial instruments or securities.
(3) assisting in the transfer of funds through transfer or other settlement methods.
(four) to assist the remittance of funds abroad.
(5) Concealing or concealing the illegal proceeds of crime and their sources and nature by other means.
The steps of money laundering must first be stored in a certain name, and then enter a legal name through a series of transactions or transfers, because most governments control money laundering.
Financial institutions will report transactions exceeding a certain amount (usually prescribed by law) to the competent authorities. In order to avoid monitoring, one of the means is to deposit large sums of money into several unrelated accounts opened in the name of others, and then transfer them to the names of criminals by remittance, writing checks and so on.
Because the amount of each transaction is not large, and it is often done by transnational means, and even takes advantage of the fact that some countries or regions can open confidential accounts or companies, it is difficult to investigate and deal with it. Another way is to set up several companies under false names and transfer the proceeds of crime through their false transactions.
For example, selling worthless things to another company at a high price and finally transferring them to the criminal's name seems legal on the surface, but it is actually just a fake transaction transfer. Some people directly buy high-priced goods such as artworks, antiques and bearer securities, and then transfer them to criminals and wait for an opportunity to get rid of them for money.
References:
Baidu encyclopedia-money laundering