drug traffickers :: essays research papers

The days of getting cash from the bank atomic number 18 long gone. We, as individuals, are now qualified to enjoy the contrivance of using automatic teller machines (ATM), debit, and credit cards. These cards can be used to make payments, purchase goods over the internet, and even pay for assail at the gas station. As you can see, using these cards is retributory like using cash. Instead of giving paper to the teller, you give a plastic card that would deduct the cost of your purchase from the funds you hold in in the specified account. Debit and credit card transactions are now considered forms of electronic money. Throughout the years, do drugs traffickers have utilized some creative ways in which they buy, sell, and deposit profits made from the sinful sale of drugs. An example of this would be through the process of money laundering. specie Laundering involves the establishment of a legitimate business. The launderer would inject increments of drug money that would mi rror increasing company profit. The individual would then be able to declare the increasing profit on his or her tax returns as to not raise any red flags and resemble the lifestyle of a normal individual. In response to such activities, President Bush sign the U.S.A. Patriot Act on October 26, 2001. This act required all pecuniary institutions to use anti-money-laundering controls (AML). AML technology analyzes transactions at a bank and recognizes shadowed patterns of activity it also seeks out names of blacklisted individuals and corporations which it can match transactions.With the cast up in credit/debit card and AML technology use, it is quite easy that drug traffickers will be worse off than when they were in a predominantly paper(currency) oriented society. With such technology in full effect, drug traffickers will have a harder time moving their cash or so the world. It will now be easier to track money transactions for whether we retrieve it or not, there are indivi duals that analyze accounts in order to divulge and investigate unusual account activity. This would include deposits from certain individuals/companies, deposits of certain amounts (particularly over $10,000), time period of deposits, money transfers, and which countries and accounts the money is being transferred/deposited into. In the era of paper, it would be easier to utilize large amounts of money by laundering it quite an than placing it into an electronic account.