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Author: Article by: ISS, Institute for Security Studies

Implications of Cash-Dominated Transactions for Money Laundering (October 2012)

Money laundering has traditionally been associated solely with banks. Action to combat money laundering has therefore focussed on the banks, reflecting the historical emphasis on the laund…..ering of street cash derived from the sale of drugs. While it may be true that banking processes such as deposit taking, money transfer systems and lending, etc., offer a vital laundering mechanism, criminals have responded to counter measures put in place by the banking sector. It must now be recognised that products and services offered by other types of financial and non-financial institutions are also attractive to the launderer.

This publication was made possible by funding provided by the Royal Norwegian Government. General ISS funding is also provided by the governments of Denmark, the Netherlands, Norway and Sweden.

Edited by: ISS, Institute for Security Studies