How does money laundering work? - Delena D. Spann
Unit 10
Выучить новые слова:
| abide | придерживаться |
| сrooked | добытый нечестным путем |
| investigation | расследование |
| undercover | тайный, секретный |
| suspect | подозреваемый |
| lure | заманчивый; завлекать |
| strike (struck) | наносить удар |
| alleged | подозреваемый |
| seizure warrant | ордер на захват, конфискацию |
| beneficiary | лицо, пользующееся благосостоянием, получающее ренту, пособия и т.д. |
| conservative estimate | приблизительный подсчет |
| vintage | выдающийся |
| ill-gotten(money) | добытый, нажитый нечестным путем |
| risk exposure | подвергать риску |
| lax | неточный, слабый |
| secrecy | секретность, тайна |
| disguise | скрывать, маскировать |
| diligence | усердие, старание |
Exercise 10.1
Прочитать, перевести (устно), дать краткий комментарий к тексту
It was the biggest money laundering investigation in US history. Evidence had been gathered secretly over many months by undercover officers risking their lives. The suspects were lured to Las Vegas for a conference on money laundering. Then the police struck, arresting 22 banking officials from Mexico’s largest financial institution, plus 14 alleged members of Mexican and Colombian drug cartels and another 70 linked to them. Seizure warrants were issued to recover $122m (£73m) from bank accounts in the US and Italy, to add to $35m seized so far. The operation so damaged confidence in Mexican banks that their shares fell collectively by 4% in panic selling.
The officials of the United Nations Drug Control Programme in the final version of a report say that at least $200bn of drug money is laundered every year, but with the illegal international drug trade valued at $500bn, this is probably a conservative estimate. In a good year, up to $500m will be recovered through anti-money laundering measures - an annual success rate of about a quarter of 1% of laundered funds.
The report has been prepared by a group of experts for a special session of the UN General Assembly on drugs in New York. With the growth of the international drug trade, more ill-gotten money is being laundered than ever, partly on the back of electronic banking and the increasing globalisation and speed of operation of the international financial system.
Cashless transactions, electronic trading and computerised clearing mean that what the report calls ‘megabyte money’ can be moved anywhere with speed and ease. With 700,000 wire transfers worth $2,000bn every day, the report says it is ‘a reasonable guess that 0.05% to 0.1% contain laundered funds to a value of $300m’. And even though half the total volume of transactions are bank-to-bank transfers of ‘aggregate funds’ for settlement or loans, the report says the ‘complicity of corrupted bank employees’ ensures these also contain laundered money. ‘This system is a money launderer’s dream.’
The one thing law enforcement officers have on their side is that criminals have to play by the rules of the system in order to use it. While it is impossible to spot transactions in progress once money is in the system, criminals have to risk exposure in putting it there. UN officials want the process made riskier.
At present, criminals reduce their risk by operating through offshore financial havens with lax financial regulation and poor banking supervision. They also hide behind banking secrecy and disguise the ownership of assets by setting up shell companies and offshore trusts in jurisdictions where no questions are asked about shareholders and beneficiaries. Many accounts and trusts are known as ‘walking’ ones, where there is a standing instruction to move the accounts to another jurisdiction at the first sign of inquiry by the authorities.
‘One of the most striking things about offshore financial centres is the enormous increase that has taken place in the number of banks,’ says the report. Banks can be set up with relative speed and ease and a minimum of due diligence investigation, so long as they meet a basic level of funds, which can vary between one jurisdiction and another.
Exporting bulk cash, usually in $100 bills and sometimes carried under diplomatic cover, is the favoured method of getting deposits to banks where no questions will be asked. Casinos in offshore centres are a favourite for converting funds: cash is exchanged for gambling chips, the launderer plays for a while at the tables then exchanges the chips back again. Instead of a cheque, some casinos offer immediate electronic transfer of ‘winnings’ to an offshore bank account.
Financial Times
World Business newspaper
Exercise 10.2
Answer these questions.
1. What is meant by megabyte money?
2. What are aggregate funds normally used for?
3. Why do UN officials want to make banking riskier?
4. Who are the shareholders and beneficiaries?
5. What is meant by a walking account?
6. Why has the number of banks increased so much?
7. What must a bank have in order to be established,in certain places?
8. What is the favourite way of transporting illegal funds?
9. Why are casinos so popular for money laundering?
10. What can the casino offer to do with the “winnings”?
Exercise 10.3
Написать эссе (7-10 предложений) на тему «Отмывание денег»,