Understanding the wash cycle

Paul Bauer () and Rhoda Ullmann

Economic Commentary, 2000, issue Sep

Abstract: Money laundering has gone on since the first crime was committed for profit, but it has been explicitly illegal only since 1986. Interest in this topic soars whenever a major ?laundromat? is uncovered. This Economic Commentary describes the money laundering process, summarizes the evolving statutes, and describes the Federal Reserve?s role in assisting in their enforcement

Keywords: Money; laundering (search for similar items in EconPapers)
Date: 2000
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