Money Laundering Models

Abstract

In May 2013, the Costa Rican currency business Liberty Reserve was shut down after an investigation, spanning 17 countries, found that the company had laundered an alleged $6 billion of proceeds from an array of criminal activities, including drug trafficking, child pornography, credit card fraud, identity theft, computer hacking, and identity theft. One of Liberty Reserve’s founders, Vladimir Kats, pleaded guilty to charges which carry a combined maximum sentence of 75 years. It is thought to be one of the largest ever cases of money laundering.1