THE ART OF MONEY LAUNDERING

A debut primer looks at the modern world of money laundering and similar crimes.

Suszek explains in the foreword to this educational work that in order to grasp money laundering, “one must understand the history of money laundering and the evolution of the inclusion of priceless items.” In the pages that follow, the author tackles topics such as the stages required to make funds gained by illegal means look legitimate (which is, of course, the point of laundering money), the ways in which the real estate market can aid criminals, and even the role of maritime piracy. In just over 200 pages, all is explained in a no-nonsense manner. Take, for instance, the idea of purchasing antiques that have been pilfered from a war zone. Many legitimate consumers are unaware that “the illegal trafficking of stolen antiquities provides financing for criminal and even terrorist operations.” Furthermore, the stolen antiquities market is a highly lucrative business with profits that “may range anywhere from $3.4 billion and $6.3 billion annually.” Certain chapters offer advice. The pages devoted to identity theft feature a bullet-point list on how the average person can stay safe. Tips include shredding sensitive documents and carefully reviewing bank account statements. Full of helpful information, the book covers the various subjects in a straightforward manner. Many examples are provided, including the case of Pedro David Pérez Miranda, the “Gold King of Peru,” which illustrates a gold laundering scheme. These cases tend to stick to the facts, albeit sometimes bland ones. Readers are told that Miranda was charged with exporting some $600 million of illicit gold out of Peru. But they will not find out a whole lot more about him. Miranda ultimately serves as an example without the sort of elaboration that would have painted a more vivid picture (for instance, how did he become such a big-time criminal?). Nevertheless, the volume’s primary focus is on instruction, and it skillfully does just that. Readers will come away with a useful understanding of the many diverse ways in which modern-day criminals perpetuate frauds.

While dry at times, this work overflows with valuable financial advice and fraud information.