MONEY LAUNDERER'S INVESTMENTS | FROM SWITZERLAND TO USA.

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA

~Contributed & Written by Kenneth Rijock ~

ARE AMERICAN TAX CHEATS REPATRIATING THEIR LAUNDERED FUNDS FROM SWITZERLAND ?

This week's story, involving the theft of $1.2m in US currency, from cargo that had arrived at JFK Airport in New York, on a Swiss Air Lines flight, is of interest to compliance, not because of the nature of the crime, but for the back story.

The currency was but a small part of a $93m sealed shipment, which originated from a yet unnamed US bank's Zurich office, and was destined for the Federal Reserve's New Jersey cash processing center, classified an an intra-bank transfer.

While routine bulk cash shipments occur every day, one wonders just how much of that ninety-three million belonged to American tax cheats, artfully laundered in Switzerland, and being repatriated, under the guise of one or more well-planned investments, by foreign entities. Obviously, as the US continues to lean on Swiss banks for information regarding their wealthy US clientele, prudent money launderers, located in Geneva, Zurich and Lugano are creating credible fronts for their customers' assets, with an eye towards investing at least some of those funds in the United States. 

Good money launderers always anticipate trouble, and try to be several steps ahead of both regulators and law enforcement. Rest assured that they are fully engaged in moving their clients' wealth out of Switzerland, and what better place to invest it but America ? 

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Panama Banks Welcome Dirty Money From Switzerland

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA

~Contributed & Written by Kenneth Rijock ~

SWISS-AMERICAN AGREEMENT WILL DRIVE DIRTY MONEY OVERSEAS

The announcement, this week, that the Swiss and United States governments have reached an agreement whereby Swiss banks will disclose information on their American clients who hold accounts, will save the banks from criminal indictment, but it will also stimulate the capital flight of funds whose owners fear criminal tax evasion charges, as well as seizure of the proceeds of crime.

Actual client names, and account data, in the hands of US law enforcement agencies, could result in action, both in the United States, and in Switzerland, to seize assets, which is a real problem if you are a career criminal secreting criminal profits abroad, and at home. Information produced by Swiss banks could identify criminal assets held in the United States.

Some criminal organisations have already transferred funds out of Switzerland, principally to Asian countries, but you can expect a groundswell of additional transfers, once the money launderers for such groups learn the details of what their clients will universally regard as  bad news.

I would look carefully at any new, substantial Swiss funds transfers, coming from corporate entities that are not known to be engaged in actual business operations, or any trusts, foundations, NGOs not known to be active, or other unusual business associations, as they may be carefully cleaned criminal proceeds, that has been residing in Switzerland for several years.

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Gold ingots were seized by Italian finance police at the Swiss frontier.

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA

~Contributed & Written by Kenneth Rijock ~

ITALIAN FINANCE POLICE SEIZE MILLIONS IN GOLD HEADING INTO SWITZERLAND

Officers from Italy's Guardia di Finanza detained an Italian-Swiss family of four at the Swiss frontier, and found a hidden cache of twelve gold ingots reportedly worth €4.5m in their personal automobile. The driver, who gave evasive answers under police questioning, has been charged with money laundering, and the gold seized. 

The gold, which was located in hidden compartments, may be part of reported massive capital flight from Italy, due to increased tax collection activity on the part of the Government of Italy. Much of the wealth is rumoured to have been smuggled into Switzerland.

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