drug traffickers :: essays research papers

The days of getting hard cash from the bank are long gone. We, as individuals, are now fit to enjoy the convenience of victimisation automatic teller machines (ATM), debit, and credit scorecard game. These cards dissolve be used to make payments, acquire goods over the internet, and steady pay for gas at the gas station. As you can see, using these cards is just like using cash. Instead of giving cover to the teller, you give a plastic card that would deduct the cost of your purchase from the funds you invite in the specified account. Debit and credit card transactions are now considered forms of electronic property. Throughout the years, drug traffickers have utilized many creative ways in which they buy, sell, and deposit dough made from the illegal sale of drugs. An example of this would be through the surgical procedure of money laundering. Money Laundering involves the establishment of a legitimate business. The launderer would quit increments of drug money that wo uld mirror increasing company profit. The individual would thusly be able to declare the increasing profit on his or her tax returns as to not raise any red flags and agree the lifestyle of a normal individual. In response to such activities, chairwoman Bush signed the U.S.A. Patriot Act on October 26, 2001. This act requisite all financial institutions to use anti-money-laundering controls (AML). AML engineering science analyzes transactions at a bank and recognizes suspicious patterns of activity it also seeks out names of blacklisted individuals and corporations which it can match transactions.With the increase in credit/debit card and AML technology use, it is quite clear that drug traffickers will be worse get rid of than when they were in a predominantly paper(currency) oriented society. With such technology in full effect, drug traffickers will have a harder time move their cash around the world. It will now be easier to track money transactions for whether we believe i t or not, there are individuals that analyze accounts in order to identify and investigate unusual account activity. This would include deposits from received individuals/companies, deposits of certain amounts (particularly over $10,000), time period of deposits, money transfers, and which countries and accounts the money is creation transferred/deposited into. In the age of paper, it would be easier to utilize large amounts of money by laundering it rather than placing it into an electronic account.