publication . Article . 2000

Understanding the wash cycle

Paul W. Bauer; Rhoda Ullmann;
Open Access
  • Published: 01 Jan 2000
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
free text keywords: Money laundering
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