Money laundering and asset cloaking techniques

Jeffrey Simser

Journal of Money Laundering Control, 2008, vol. 11, issue 1, 15-24

Abstract: Purpose - The purpose of this paper is to explore the various typologies and methods used to cloak assets following the placement stage of money laundering. Design/methodology/approach - Techniques used to hide assets and cloak ownership, ranging from simple nominee arrangements through to complex financial transactions are explored. Findings - There are a myriad of methods available to money launderers to cloak their assets. Research limitations/implications - More work needs to be done on the issue of information gateways. Practical implications - Assets are cloaked to obfuscate the trail and make it difficult for law enforcement to “follow the money”. Understanding the methodologies used is the first step to understanding the problem. Originality/value - A number of cases from Canada, the USA and Australia were studied, as well as reference material advisors use for asset protection.

Keywords: Money laundering; Criminal forfeiture; Canada; United States of America; Australia (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:13685200810844460

DOI: 10.1108/13685200810844460

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