Money Laundering💸 (Money Laundering) is a procedure used to hide and transform financial resources or material goods originating from criminal activity (illicit) into apparently legal monetary assets (lawful). In other words, money laundering is to simulate a financial transaction to justify amounts obtained by illegal or undeclared means.
⚠CURIOSITY: This term emerged in the 30s in the US 🇺🇸 after the FBI framed the Al Capone gang - which used its network of laundromats as a front business, to make bank deposits of low-value bills, common in sales laundry services, but which resulted from the alcohol trade prohibited by the Prohibition in force at the time and from other activities…
Since 1988 the world has been using this #LavagemdeDinheiro💸 prevention practice as an instrument to combat organized crime and, recently, against terrorism, becoming a problem of social scope of international character with the Vienna Convention, in which several international instruments were created that demanded the punishment for this criminal practice that was first recognized by the consequences of profits originated from drug trafficking. .
As a result, on March 3, 1998, Brazil published law number 9613, which provides for crimes of "laundering" or concealment of assets and the prevention of the use of the financial system for illegal acts in this Law, and also created the Council of Financial Activities Control - COAF, in August 2019 renamed as the Financial Intelligence Unit 😉
