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.


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