Comment by api
3 years ago
Any high priced asset that's easy to move with few questions asked is a great tool for money laundering. One of the largest tools is real estate, which may be one reason you see a lot of unoccupied houses and condos in certain expensive cities.
The art doesn't have to be modern to work this way. It just has to be fungible art with an inflated price tag on it. Any style will do.
Other popular money laundering vehicles include: "investments" in totally hollow shell companies, fake customers to shell or cutout businesses (like the car wash in Breaking Bad), manipulating penny stocks (you basically run a pump and dump against yourself using dirty money to pump and extracting clean money on the other side), cryptocurrency and related things, other big assets like airplanes and boats, etc.
Real estate is traditionally quite difficult to move, that’s actually one of its core selling points.
And you can buy high end real estate with dirty money and then get clean money by taking loans out on the value of the property