Identify the Contract with the Customer (Step 1 of ASC 606) [Video]

The House with the Golden Windows. Inspiring short stories. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.The motivational stories and famous anecdotes presented in this video are excerpts from our book: Top 100 motivational stories: the best inspirational short stories and anecdotes of all time. Get the book here: https://www.bizmove.com/inspiration/m9b.htm

In this video, you will learn about money laundering, the Introduction to money laundering and the Stages of it. #moneylaundering #dirtymoney #wallstreetmojo #taxhavens #financialcrime Chapters: 00:00 – Introduction 00:31 – What is money laundering? 00:46 – Dirty money 01:27 – Cleaning of dirty money 01:27 – What is Clean money 01:59 – Why is money laundering is bad? 02:06 – No. 1 – Encourages criminals to keep going 02:32 – No. 2 – Harms the society 02:56 – No. 3 – Harms the Economy 03:33 – Stages of money laundering 03:50 – No. 1 – Placement 04:24 – No. 2 – Layering 05:06 – No. 3 – Integration 05:46 – Conclusion What is money laundering? Criminals like Pablo Escobar and ElChapo earn their money through crimes and get their money put into the system through money laundering. So, money laundering is getting dirty money cleaned and put into the system, making it seem like clean money. Dirty money Dirty money is something acquired through illegal means. People who get dirty money cannot show it to the authorities, or they will catch them. Cleaning of dirty money To get dirty money in the bank accounts, they must make it seem clean or legally acquired. Hence, the dirty money gets cleaned. Clean money There are many ways through which one can clean such dirty money. Once cleaned, the money is clean and can be put back into the system without tracing its origins. (Explained in detail in the video) Why is money laundering is bad? Encourages criminals to keep going Once criminals know that their dirty money can be cleaned and put back into the system as clean money, they realize there are no consequences to what they do. Hence, they continue their crimes. Harms the society These criminal activities are only harming society and putting loads of money into the pockets of the criminals. Harms the economy Any harm to society will directly harm the economy. Money laundering covers tax frauds, embezzlements, theft, and other illegal economic activities. (Explained in detail in the video) Stages of money laundering Placement The dirty money is first transferred into a bank account, mostly abroad, in those banks with very strict privacy policies. Layering The money is then divided into chunks and sent into accounts in various countries to make it hard to track by authorities. Integration The money must be brought back into the system and shown as legal. This is done by setting up a business with high cash flow on paper, and the money can be made legal through such tactics. (Explained in detail in the video) So, in this video we covered introduction and stages of money laundering. We hope you have learned much from this video. If you think you did, show it to us by liking the video, commenting, and sharing it with others. We are having another video on Money Laundering: Examples and Prevention . So do subscribe to our channel if you have not yet! We post videos on such topics regularly, so if you don’t want to miss out, subscribe to the channel. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo Hashtags: #moneylaundering #taxevasion #taxhavens #taxfrauds #financialcrime #druglords #dirtymoney #drugmoney #illegalmoney #shellcompanies

The Angry Father. Inspiring short stories. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love. The motivational stories and famous anecdotes presented in this video are excerpts from our book: Top 100 motivational stories: the best inspirational short stories and anecdotes of all time. Get the book here: https://www.bizmove.com/inspiration/m9b.htm

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