Drugs and Money: Laundering Latin America's Cocaine Dollars

By Robert E. Grosse | Go to book overview

Introduction and Explanation of Scope

Money laundering is as old as illicit business, since criminals have to get their ill-gotten gains into clean financial instruments in order to use them in the legitimate business system. The process by which cocaine traffickers take dollars generated from street sales of cocaine or crack and convert them into bank accounts, airplanes, securities investments, and other uses is the topic of this book.

The whole subject is pretty hard to figure out for a non-participant. Imagine the problem of trying to hide the source of a suitcase full of perhaps $U.S. 400,000 in $5, $10, and $20 bills when the drug trafficker (or his or her money launderer accomplice) needs to convert cocaine sales into “legitimate” financial instruments such as bank deposits or investments. This is the task that has led government enforcement agencies to a point of attack in their efforts to reduce the flow of illicit narcotics to U.S. consumers. It is also the problem that faces drug cartel members as they make their sales.

Part of the purpose of this book is to describe and illuminate a wide variety of narcotics money laundering schemes. These ventures are almost unimaginably creative and extensive. From shipping suitcases of dollars to Mexico to buying gold with drug cash in California to faking the export of clothing from Colombia to Panama, the clandestine activities of the launderers are truly fascinating. The amounts of money involved are often staggering—hundreds of millions of dollars in most of the cases described here. All of the stories relate to the laundering of narcotics proceeds, mostly cocaine-derived dollars produced from the activities of Colombian and Mexican drug traffickers.

A second purpose of this book is to consider some of the concerns raised by money laundering. One major concern is for banks and other financial intermediaries that want to try to avoid becoming involved in a money laundering

-ix-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited page

Bookmark this page
Drugs and Money: Laundering Latin America's Cocaine Dollars
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this book
  • Bookmarks
  • Highlights & Notes
  • Citations
/ 227

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.