highlights
Money laundering was earlier used by the mafia.
It was used to clean illegal money.
It is now used by everyone from politicians to actors.
New Delhi. Delhi Chief Minister Arvind Kejriwal has been arrested by ED in the alleged liquor scam. ED has accused him of money laundering. Arvind Kejriwal is accused of unfairly benefiting contractors while making the excise policy. Before Kejriwal, two other senior leaders of his government, Manish Sisodia and Satyendar Jain, have also been arrested on charges of money laundering. Let us know what is money laundering?
Money Laundering means cleaning or washing of money. This word is the gift of US. It is said that the mafia here used to convert the money they had earned through wrong means into legal money in many ways. This is where the term money laundering comes from. It is used to convert black money into white. This method, which started with the mafia, is today also used by businessmen, politicians and bureaucrats. A person who embezzles money is called a launderer. This feat is accomplished in many ways. In the end the black money turns white and returns to its original owner with a cut of some percent. You know that money laundering is the process of converting black money into white i.e. legal. But how is it done? There are many methods through which black money is converted into white.
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investment in property
It is heard many times that the government had provided land to this person at a cheap rate. Many questions arise as to why this was done. Actually, this is also done in money laundering. Where one buys expensive land, house, shop at a cheap price on paper so that one has to pay less tax on it.
fake companies
You must have heard about shell companies. If not, we tell you. These are fake companies. There is no capital involved in these. No work is being done here. In fact, many times there is not even any structure on the ground. There is only a company on paper through which the original owner of the black money is getting the money. This is one of the most popular methods of money laundering.
deposit in bank
Many times money launderers also do this by depositing the money in a bank of a country where the government of that country does not have the authority to investigate. These places are called safe havens. Some time ago, Panama came into limelight because the news of big personalities having black money in banks there came to light. Swiss Bank is the most popular bank in this matter.
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Tags: Arvind kejriwal, business news in hindi, Money Laundering
FIRST PUBLISHED: March 21, 2024, 23:03 IST