h1

Wednesday word: layering

May 19, 2010

Money laundering includes concepts like placement, layering, and integration, all of which are done to disguise the illegal nature of the money’s source.  This definition of layering comes from the Comptroller of the Currency:

Layering: The process of separating the proceeds of criminal activity from their origin through the use of layers of complex financial transactions, such as converting cash into traveler’s checks, money orders, wire transfers, letters of credit, stocks, bonds, or purchasing valuable assets, such as art or jewelry.

And here you thought layering referred to draping that extra hijab over your niqab.

Advertisements

3 comments

  1. LOL! Thanks for the grin! BTW, love your site and will support you financially when I have more cash available. You guys ROCK! THANKS!


  2. Loved it ;)


  3. Glad to be of some service!



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: