ELI5 Money Laundering - what, why and how?

About this episode

This episode explains the concept of money laundering, its methods, and why certain locations are favored for such activities.

What is money laundering? Why can’t a criminal just spend good old fashioned cash? What are some of the ways used by criminals to launder money? Besides casinos, why are laundromats often mentioned? Why are countries like Panama and Cyprus ideal for laundering money? ... we explain like I'm five Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: courtimus, atomkanister, el_mochilero, skatingraccoon, jakob4800, mechadragon469, m34tbag, slippedtheslope and paxnova To the ELI5 community that has supported us so far, thanks for all your feedback and comments. Join us on Twitter: https://www.twitter.com/eli5ThePodcast/ or send us an e-mail: ELI5ThePodcast@gmail.com

People in this episode

Host: ELI5 Explain Like I'm Five Podcast

Topics covered

• money laundering
• criminal finance
• financial crime
• casinos
• laundromats
• offshore finance

Keywords

• money laundering
• criminals
• cash
• casinos
• laundromats
• Panama
• Cyprus

Mentioned in this episode

Organizations: r/explainlikeimfive

Places: Panama, Cyprus

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