For Canadians wishing for a perfect tax evasion money hiding opportunity, this one is the big ticket!
Stephen Harpers’ CONServatives have refused to appear before parliamentary hearings that are being conducted into the “alleged” Tory “in and out” election financing scheme that should be more formally known as…MONEY LAUNDERING!!!
According to Wikipedia money laundering is…the practice of engaging in financial transactions in order to conceal the identity, source, and/or destination of money, and is a main operation of the underground economy.
In the past, the term “money laundering” was applied only to financial transactions related to organized crime. Today its definition is often expanded by government regulators (such as the United States Office of the Comptroller of the Currency) to encompass any financial transaction which generates an asset or a value as the result of an illegal act, which may involve actions such as tax evasion or false accounting. As a result, the illegal activity of money laundering is now recognized as potentially practiced by individuals, small and large businesses, corrupt officials, members of organized crime (such as drug dealers or the Mafia), and even corrupt states, through a complex network of shell companies and trusts based in offshore tax havens. A few examples of money laundering are smurfing or kiting.
The increasing complexity of financial crime, the increasing recognized value of so-called “financial
intelligence” (FININT) in combating transnational crime and terrorism, and the speculated impact of capital extracted from the legitimate economy has led to an increased prominence of money laundering in political, economic, and legal debate.

One Comment

  1. IT Manager in Calgary
    Posted August 14, 2008 at 2:53 pm | Permalink

    Instead of calling it Money Laundering, let’s pull a page out of the CON books and start calling it “Canada’s NEW Sponsorship Scandal!”

    Spread the word!!!!

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