Hvítþvottur has released over 10 episodes. We discuss fraud, money laundering, the Panama Papers and more.
Would you like to learn more about money laundering? We've gathered a broad amount of educational content about money laundering cases worldwide.
Hvítþvottur is a website and podcast by Sigurður Páll Guttormsson, a specialist in fraud prevention.
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The goal of the placement stage is to get illegal money into the regular financial system without being noticed. Once it's in the system, the criminals can move on to the next stages of money laundering to obscure its origin further.
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The idea behind layering is to create a web of transactions so tangled and complicated that it's nearly impossible to figure out where the money came from. This makes it very challenging for authorities to track the illegal source.
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Having been placed initially as cash and layered through a number of financial transactions, the criminal proceeds are now fully integrated into the financial system and can be used for any purpose.
