Money laundering is a crime under the FCPA and the implications of this are far-reaching for businesses. Businesses can protect themselves and their interests from money laundering by employing proper business intelligence measures.
Money laundering is real – businesses sometimes “invest” funds on behalf of “unwholesome” parties or partners linked with organized crime. Money laundering can be intentional or unintentional but is still weighed as the same offence under the law. It is wise therefore that businesses hire financial fraud investigators as part of their team to help them potentially identify funds from corrupt or criminal sources.
It is possible to identify potential money laundering activities by taking proper due diligence measures. Wise businesses always employ financial fraud investigators as part of a comprehensive business intelligence strategy. Conducting investigations and due diligence on existing business records and partners can help businesses trace potential money laundering histories.
"Money laundering is a fact in the business world that many try to hide. It is a known fact that money invested in businesses sometimes come from questionable sources, and many businesses are used knowingly or unknowingly as a money laundering front for corrupt organizations," said a report collaborator.
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