Journal Article
Understanding the wash cycle
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;
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2000
Issue: Sep
Order Number: 2