Rhoda Weeks-Brown is general counsel and director of the Legal Department at the International Monetary Fund (IMF).By Rhoda Weeks-BrownWASHINGTON DC, Jan 7 2019 (IPS)Al Capone had a problem: he needed a way to disguise the enormous amounts of cash generated by his criminal empire as legitimate income. His solution was to buy all-cash laundromats, mix dirty money in with clean, and then claim that washing ordinary Americans’ shirts and socks, rather than gambling and bootlegging, was the source of his riches.Rhoda Weeks-BrownAlmost a century later, the basic concept of money laundering is the same, but its scale and complexity have …read more
Source: Inter Press Service
