The Mafias Money Laundering - 988 Words

Money Laundering The term money laundering is said to create from Mafia possession of Laundromats in the United States. Gangsters there were earning huge sums in cash from extortion, prostitution, gambling and bootleg liquor. They needed to demonstrate a legitimate source for these monies. ‘Money laundering is the process by which criminals try to conceal the true origion and ownership of the proceeds of their criminal activity, allowing them to maintain control over the proceeds and, in the end, providing a legitimate cover for their sources of income’. In the 1980’s, money laundering was considered only as interest basically with drug trackling backgrund. It created trouble in western society, because the profit genration was increasing from criminal activities. Therefore, there was a force from society to take action against drug dealers by introducing legislation that would remove them of their illegal gains. Government soon identified that criminal organizations, which made massive profits from drugs, could corrupt the system of state at all levels. Money laundering is a worldwide trend, supported by international society which is a 24hrs a day business. If one closes, another opens for business. As a 1993 UN Report noted: The essential features of laundering of profits of crime are its global nature, the flexibility and adapbility of its operations. These make the crime in an organized manner. Moreover, a very important point which should not be ignored at any costShow MoreRelatedThe Mafia Essay1298 Words   |  6 Pagessystem does not function very well in Italy. And where there is no law, there is no sin (www.bestofsicily.com).† In the 1930’s, when the Fascists rose to power in Italy, Mussolini had most of Cosa Nostra thrown in jail. This gave way to the Mafia’s sympathy to the American cause, or at least their hostility to the fascist one. â€Å"In reality, the relationship between the Fascists and the Mafia was that of one group of criminals pitted against another–-two wolves fighting over the same chickenRead MoreThe Origins Of The American Mafia1711 Words   |  7 Pagesmanufacture, sale, and distribution of alcohol was strictly banned. The budding American Mafia took this as a business opportunity and turned to bootlegging. They were incredibly successful at this and their crime regime also grew to include money laundering, smuggling, and bribing officials. Meanwhile in Italy, the Sicilian Mafia was in a battle with Italian fascist leader Benito Mussolini, which led to several members immigrating to America and joined in on the bootlegging business. While theRead MoreLaw Enfor cement, US Military, and Terrorism923 Words   |  4 Pagesnot limited to, extortion, abduction, human smuggling, prostitution, drug trafficking, theft money laundering, and fraud. Furthermore, the Russian Mafia is heavily involved in scams such as healthcare and strategic commodities fraud, and credit card, insurance securities, and investment fraud. They are also involved in tax evasion and energy price rigging (17). In the United States, the Russian Mafias criminal activities have forced the FBI to establish special task forces in New York City, NewRead MoreEssay on The Mafia: Wealth and Politics in the 19201549 Words   |  7 PagesCapone is reputed to have amassed and inherited a fortune in excess of twenty million dollars through his illegal activities (Bequai 40). He then laundered his money through personal banks, real estate firms, hotels, and a number of other legal investments he operated. The American government saw none of their share of this blood money ; Capone never bothered with taxes. After years of futilely trying to incriminate him with Mafia activities, Capone was finally sent to Alcatraz for tax evasionRead More New England Patriarca Mafia Essay2693 Words   |  11 PagesPatriarca mafia is rooted in the efforts of Gaspare Messina. In 1916, Messina created the New England mafia and died in 1924. Succeeded by Filippo (Phil Buccola) Brucolla, most of the mafia’s inc ome was coming from mob staples such as loansharking, numbers-fixing, and bootlegging. Starting at the top of the mafia’s pyramid-like structure is the national commission*, then the boss*, underboss*, consiglieri*, Caporegime*, soldiers*, associates*, and protectors*. In 1931, Bucolla gained the respectRead More THe Mafia Essay1064 Words   |  5 Pagescharges of stock fraud and money laundering. Sex probably rates higher than whiskey in desirability, and so organized crime moved into illegal prostitution. these are just a spoonful or what the Mafia does. Racketeering; fraud; car theft; robbery; armed assault; drug dealing; trafficking in weapons and radioactive material; trafficking in human beings and exploitation through prostitution; alien smuggling; smuggling of precious and antique goods; extortion for protection money; gambling; embezzling fromRead MoreThe Russian Mafia Essay1794 Words   |  8 Pagesimaginable kind of criminal activity from drug trafficking and mon ey laundering to protectionism, which penetrates into every area of society. Under the laws of the Soviet Union, the regulations were strong and external. Now the external regulators have disappeared allowing the Russian Mafia to exceedingly enlarge its strength and influence especially with the accelerated speed of privatization without legal safeguards. The Russian Mafias effect on the Russian economy through protectionism can be viewedRead MoreOrganized Crime Goroup Analysis2221 Words   |  9 Pagesmove smoothly without issue. Trains, ships, air crafts, and motor vehicles are just a few ways in which drugs transported across borders. Political leaders and government officials offered a substantial amount of money, political power, or protection, to ignore, and assist with the Mafias illegal drug trade. The La Cosa Nostra (LCN), is the most prominent Italian organized crime group operating in the United States. Within the LCN, there are five principal crime families. The five principal