Money laundering is not an old concept; it has been a part of the crime world since time immemorial. It’s a process of disguising the proceeds of crime and integrating it into the legitimate financial system. Fraudsters and war criminals rely heavily on money laundering for the expansion of their illegal business.
The act of faking the origin of money that is originally obtained from illicit works to have come from legal sources is called money laundering. There are many businessmen who run their illicit trade by converting black money into white. One such businessman is Tony Abi Saab of Lebanon. He deals in arms and weapons internationally through his company Brescia Middle East. He has expanded his illegal business by laundering the money that comes from his shell companies which are K5 Global, Brixia and G2Armory.
Tony is doing arms and weapons business with the terrorists through his shell companies and obtains hard cash in return. He smuggles the cash by trespassing the borders and deposit it in the local bank accounts of Lebanon. Then, the wires the money to the accounts of BME or his other shell companies with the help of his trusted banker friend. The friend of Tony also handles the forged documents of fake companies. After the money is deposited in the bank account, there is no way to distinguish between illegal and legal cash.
Tony has been maintaining his illegal empire of gunrunning and fake contracting firms in Europe, Asia, and the Middle East through money laundering. People like Tony are a threat to the world, they would never stop selling weapons to the terrorists as their soul is corrupt and their heart is greedy. Governments should take some action to stop their illicit trades.