Post
Topic
Board Bitcoin Discussion
Re: Is "money laundering" really that big of a deal?
by
fellowtraveler
on 02/06/2013, 09:01:07 UTC
It's kind of similar to tax evasion really. 

In a way, it's the opposite. Tax evasion is about moving legitimate money out of of the system such that people can't find it, so you don't have to pay taxes on it.

Whereas "money laundering" is about moving illegitimate money into the system, such as through a car wash, and making it appear to be legitimate ("clean") money, so you can pay taxes on it, so that people don't suspect it of being drug proceeds.