Money laundering is the biggest
evil at the moment for the world, especially for the under develop and
developing countries and even it is becoming a serious threat for the developed
nations. Lal Chand money laundering prevention advises for your business is one
of the many steps toward the anticipation of anti-money laundering. Lal Chand
consider money laundering a real threat for the world economies and also helping
criminals in the activities like terrorism and kidnapping for ransoms. The world
is facing one of the biggest threats now a days are terrorism and money
laundering because of their inter-connectivity. Here Mr. Lal Chand came to you
with some very basic prevention methods for your businesses which defiantly
help us to stop or even control money laundering and terrorism (terror
financing).
Before going to money laundering
prevention steps, first you need to understand “What is money laundering and what is the crime of lal chand?” as per Mr. Lal Chand Money Laundering the compact and
perfect definition for money laundering is below:
“It is process of converting your
black and illegal or ill gotten money or asset into legal or legitimate funds
or assets.”
Another essential thing which businessman
needs to know that “what the ill-gotten
or black money is” and from which business or activity is involved behind
it “where it come”. Mostly it came
from criminal activities because you cannot provide any source of income against
the money which come from the mentioned below sources. The activities involve
Bribery & Corruption, Gambling, Kidnapping, Extortion, robbery and cheating,
counterfeiting & forgery, terrorist act (terrorism), smuggling (arms,
people & good), drug trafficking and prostitution.
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| lal chand money laundering |
Criminals normally target or use the small businesses for the money laundering schemes because of their inefficacy in handling the money transactions and also the lack of information and experience of business financial procedures. Small business owners normally go for the business opportunities which feels attractive to them and simply can’t pass on. They go for the easy money and unknowingly ready to be used as a channel for money laundering and later realized that they and their business are in trouble and helping the world of crime and possibly face legal trouble.
However, as a small business
person, you can become more vigilant by knowing few things which are important
for you and for your business as a businessman. We know it is not only
difficult but impossible to place a process to ensure multiple things while
doing small business with minimum human or financial resources (to check people
affiliation with criminals, or access criminal watch lists or thing like that).
But you can prevent money laundering or highlight it by asking the following six question.
- You need to know who are the investors behind the deal and the person involved in money deal is hesitant or unclear about them and not ready to talk about them. If this is the case than you need to be extra vigilant till you know the exact person and source of money.
- Second, does the person is asking for or insisting you to add some uncommon conditions and instruction into a deal? This is unusual and it’s your job to find the reason why the person is wanted to having such conditions in the deal.
- Third and important, has someone an unknown person showed his interest in your business or contacted you regarding investment in your company? It’s very important for you to know about the person and his intentions and motives. (Do you due diligence and know about their hidden motives?)
- If you already in partnership business, is there any sudden changes in your working relationship with your partner? It is alarming too, so you should find a proper satisfactory answer on it that why this happening, do you digging.
- If the money is moved to somewhere without any announcement or reason and the account channel is going to be use is different than the standard one. These are very clear and common signs of warning for you to take action or you should act on such matters.
- Last, if someone asking for the heavy cash payments, someone assets appeared suddenly or someone came up with the idea of showing or making loss. These are other very common practices, here you should act immediately.
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