Examples of Laundering Black Money +27782842465 - Pretoria - Other Services

Published date: May 4, 2021
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Examples of Laundering Black Money
Most black money holders attempt to convert the money into legal money, also known as white money. This is typically done through money laundering, which can be attempted in a number of ways. Consider a consumer who pays the sales tax on retail goods but does not actually purchase the merchandise. If the consumer receives a sales receipt and is reimbursed for the price of the goods, the reimbursement is considered black money. The seller counters this effect by selling the merchandise to another customer, who purchases the item but does not receive a receipt for the purchase.

Money laundering can also be perpetrated using the hawala system of transactions. The hawala system is an informal and cheap method of transferring money from one region to another without any actual money movement and without the use of banks. It operates on codes and contacts, and no paperwork or disclosure is required. If a money launderer in the U.S. decides to send $20,000 through a hawala dealer to a recipient in India, the exchange rate agreed upon will be fixed at a significantly higher rate than the official rate.

Tax havens, such as Switzerland, offer anonymity to money launderers due to the lax policies on funds deposited in their countries. Other outlets for black money include real estate, jewelry, informal and cash economies, bullion investments, and more. What's App, Call:- Black Money www.drmamasuzzan.webs.com +27782842465

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