Publication

Money laundering has traditionally been associated solely with banks. Action to combat money laundering has therefore focused on the banks, reflecting the historical emphasis on the laundering of street cash derived from the sale of drugs. While it may be true that banking processes such as deposit taking, money transfer systems and lending, etc, offer a vital laundering mechanism, criminals have responded to counter measures put in place by the banking sector. The author of this publication argues that it must now be recognized that products and services offered by other types of financial and non-financial institutions are also attractive to the launderer.