In the world of organized crime, stories appear that appear to be a figment of fiction, but they are a tangible reality that reveal the cunning methods that drug traffickers use to camouflage their criminal activities. One of these horrific stories reveals how an Asian drug dealer tried to launder his money in the Kingdom of Saudi Arabia. Ahmed Al-Muqahim, investigator for the Public Prosecution. , tells how Saudi security forces were able to arrest this drug dealer at a checkpoint, where he was found in possession of a large sum of money.
This initial discovery opened the door to uncovering a complex money laundering scheme involving the exploitation of expatriate workers. This incident shows how subtly expatriate workers can be exploited by drug traffickers. This drug dealer made money from illegal drug sales in his home country and sought to launder it in Saudi Arabia. To achieve this, he established a collaboration with a company owner in Riyadh, where money was collected from expatriate workers and sent abroad under the guise of legitimate money transfers.
Transnational money laundering crime.
Public Prosecution investigator “Ahmed Al-Muqahim” tells the story of an Asian drug dealer who tried to launder his money by collecting cash from expatriate workers and transferring it outside the country illegally.#Money_laundering_in_the_picture pic.twitter.com/koho2IJ39V– In the photo (@almodifershow) November 20, 2023
What is interesting is the cross-border coordination carried out by the drug trafficker with partners in Saudi Arabia. The owner of the Saudi company was asked to buy children’s products and send them to his country, while the money was transferred through a representative who collected it from workers. In his country, the drug dealer used these products to open a shop and sell them, which helped launder money obtained from the drug trade. This case highlights the urgent need to enhance awareness among expatriate workers about the dangers of engaging in illegal activities. It also highlights the importance of vigilance and efficiency in security services to detect and dismantle such criminal networks. The story shows how drug traffickers can use sophisticated and complex methods to hide their criminal activities and launder money.
Methods and techniques How money is laundered
Criminals use several sophisticated techniques to launder money, including cross-border money transfers, real estate investments, and international trade. One popular method is “chunking,” where a large sum of money is divided into smaller amounts and deposited into different accounts to avoid security alerts. In addition, some exploit shell companies or fronts to hide the sources of funds.
The effects of money laundering are not limited to the economy only, but extend to the social and political system. They contribute to undermining financial systems and create a fertile environment for the growth of organized crime and corruption. It also leads to a decline in investor confidence, distorts the labor market, and hinders economic development. Confronting money laundering requires concerted international efforts. The challenge is to modernize financial systems and enhance transparency and information exchange between countries. It also requires the cooperation of banks and financial institutions in implementing strict laws to control financial operations and verify customers.
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2023-11-21 08:38:14
