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me🌮irl (lemmy.world)
submitted 8 months ago by robocall@lemmy.world to c/me_irl@lemmy.world
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[-] electric_nan@lemmy.ml 6 points 8 months ago

Laundering money is usually mixing dirty cash with clean cash. So you have legit business(es) in a busy area, and you inflate the 'real' income with the 'dirty' cash. Now you've paid taxes on the dirty cash (and can put it in the bank).

[-] raspberriesareyummy@lemmy.world 3 points 8 months ago

oh. yeah, that makes sense! Thank you for the money laundering crash course :D

[-] electric_nan@lemmy.ml 4 points 8 months ago

No problem. The best types of businesses for this deal with a lot of cash, and are ideally service-based. If you are selling goods, then someone could investigate and find that you aren't buying enough supplies to account for your sales. For laundering millions, real-estate and fine art are popular, since you can buy it cheap, and then inflate it pretty arbitrarily, and sell it (to yourself or a coconspirator) for a huge 'profit'.

[-] raspberriesareyummy@lemmy.world 2 points 8 months ago

kind of explains the art market :D

this post was submitted on 02 Mar 2024
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