publication . Article . 2000

Understanding the wash cycle

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