What is Fraud, Scams, illegal & Money Laundering? by Dhananjay Choudhary Koda Assoicates

  • What is money laundering?

Money laundering is getting huge amounts of money by indulging in criminal activities. The activities that require money laundering are terrorist funding and drug trafficking. They usually appear to arrive from a very reliable source. The amount that comes from these criminal activities is termed as illegal money. This is one of the prevalent activities happening around the world.

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How does it work? : Money laundering is a process that is important for criminal organizations that plan to illegally use the money. Dealing with huge amounts of dirty cash is dangerous as well as a serious crime. The criminals will deposit the money in respectable banks, but yet the origin is from a very dirty source or used for an illegal matter.

There are three parts in money laundering one is placement, another is layering, and the third is integration. The process of placing the money in respectable quarters is called placement. The aspect of layering deals with concealing the dirty money with various transactions and tricks in bookkeeping. The last step is integration, where the laundered money is taken from the right account and used for illegal purposes by the criminals.
These are some of the facts about money laundering.

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  • What is fraud & Scam?

Fraud is a deception that is intentional and is caused by the people for their gain. There are frauds like the identify fraud, and many types of fraud happen when people fail to keep their computer secure. The online frauds are occurring everywhere where the hacker hacks the personal information of the people he targets.

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The identity fraud : This is the most common of all the frauds. This is one of the pressing concerns of the merchants, banks, and other companies. The credit cards are the popular target for identity theft because the transaction processes are easy.

The Friendly fraud : The friendly frauds are not at all friendly, most importantly for the eCommerce merchants. This happens when the customer purchases the goods using the pull method like the credit card or the debit card.

The clean fraud : Clean fraud is very dirty. This is done by the stolen credit card. They use the card to purchase the goods and other essentials by manipulation. This is one kind of sophisticated fraud and requires a certain skill to perform. The hackers are experts in clean fraud.

These are some types of frauds that people need to be aware of.

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  • What does it mean to be illegal?

When people commit something that is against the law, for example, robbing the bank, then it is illegal. The acts that go way against the law are serious so that the penalty will be high. There is a wide range of matters that come under the illegal category. However, no matter the size of the issue, if it is against the law, it is illegal.

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The people who enter the country without the approval or permission from the government are called illegal immigrants or illegal aliens. So like these, many things are considered illegal.

Torrenting copyrighted material from the internet : The downloading and uploading of copyrighted material is illegal. The data transferred through the file-sharing tools are copyrighted. So that is the reason why Torrenting is illegal on the internet. It is illegal to share copyrighted movies, songs, and other content.

Trolling online : Trolls are common on the internet, but it is not taken easily. The behavior of trolling in some of the places on the internet is illegal. The activities such as harassing, bullying, and stalking are not tolerated on the internet. Invasion of someone’s privacy and defamation charges are made on the person who indulges in these illegal matters.

These are some of the illegal activities. Mr. Dhananjay Choudhary Koda Assoicates is known for his work on many illegal cases. If you need it any issue, Please contact us.