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Bankers can be pulled into money-laundering schemes, professors warn.
Publication: South Florida Sun-Sentinel (via Knight-Ridder/Tribune News Service) Publication Date: 29-MAR-01 |
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COPYRIGHT 2001 South Florida Sun-Sentinal
Byline: Antonio Fins
Bulldozers for $387 and 75-cent diamonds sound like bargains, but a pair of financial analysts say they are possible tip-offs to money laundering schemes.
In their latest survey of a U.S. government trade database, two finance professors at Florida International University have highlighted what they believe is billions of dollars worth of suspicious international wheeling and dealing last year.
Essentially, people with tons of money earned illegally are said to cleanse the cash by buying goods, then exporting them to other countries at grossly undervalued prices to obscure the true source of their profits. An accomplice in the other country...
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