Many forms of criminal activity generate significant amounts of money. To avoid attracting the attention of law enforcement, criminals must find a way to disguise the source of their ill-gotten funds. That’s the goal of money laundering, which involves criminals engaging in a series of transactions to conceal the criminal origins of their money.

Money laundering involves three stages:

1. A criminal (or those under their direction) introduces funds earned through criminal activity to the financial system.
2. A money launderer (or the criminal themselves) engages in a series of transactions to create layers between the illegal source of the cash they control.
3. The criminal moves laundered money back into the financial system.

The layering process

During the layering stage, the goal is to disconnect the money from the illegal activity that generated it. Generally, the more layers money passes through, the harder it becomes to connect the funds to criminal activity.

The goal of layering is to make the process of tracking money through each layer more difficult to accomplish. Layering can include changing the nature of the assets, i.e. cash, gold, casino chips, real-estate, etc.

Complex layering schemes involve sending the money around the globe using a series of transactions. The more countries the money enters and leaves, the harder it is to uncover the “dirty” source of the money.

Layering and AML

A complex layering scheme makes anti-money laundering (AML) operations challenging. Since they lack jurisdiction overseas, law enforcement must coordinate with their foreign counterparts, which can delay the tracking of the funds while complicating the document trail associated with the funds.

To complicate matters further, criminals often use shell companies, which engage in fraudulent transactions, such as the creation of fake invoices. Once the company receives payment for the fake invoice, those who control the shell company can return the proceeds or send them to another shell company as payment for a subsequent fake invoice.

Layering can involve electronic transactions such as wires and ACHs, paper transactions, and/or manual movement of the funds between countries using covert means. Those laundering the funds may also decide to use non-traditional financial systems, such as Hawala (Middle East), Hundi (India), or Hui Kuan (Hong Kong), which are alternative remittance systems that allow for the movement of money without doing so physically.

Details in press conference On Friday, Germany’s second-largest Volksbank confirmed corresponding reports by the magazine “Spiegel” and the “Welt am Sonntag”. Details will be announced by the two banks in a joint press conference next Tuesday (3.9.).

The cooperation is a response to the pressure to save money and could therefore set a precedent nationwide. Because the entire industry strives to create a balancing act between digital offers and presence in the area.

Many customers now do their banking business almost exclusively on their home computer or via an app on their smartphone. The number of branches has been shrinking for years because the dense network costs the institutions a lot of money – and this at a time when financial institutions are already struggling to earn money because of the low-interest rates and at the same time have to spend a lot of money on regulation and new digital services.

50 locations affected According to reports, Frankfurter Volksbank and Taunus Sparkasse will consolidate their presence at 50 locations. The joint branches will be open on four weekdays: Sparkassen customers will be served on two days, Volksbank customers on the other two days.

Customers will be able to see which institution is currently represented by means of different lighting – sometimes red for the Sparkasse, sometimes blue for the Volksbank. Basic services such as cash withdrawals are to be offered to all customers at all times via ATMs.

The two institutes are jointly investing up to five million euros in the redesign of the branches – and in return are saving annual costs in the single-digit millions.

Last year, branch deaths and merger pressure in the German banking market continued under the pressure of the interest rate slump and digitization. According to Bundesbank figures, the number of financial institutions decreased by 40 to 1,783 compared to the previous year. The number of branch offices shrank across the entire German market by 2,239 to 27,887. In 2007, the figure was still around 40,000.

Eva Wunsch-Weber, CEO of Frankfurter Volksbank, had already shown herself open to cooperation when presenting her company’s balance sheet. The cooperative bank also relied on cooperation with savings banks “in order to be accessible to our customers at less frequented locations”, explained Wunsch-Weber in mid-February.

Frankfurter Volksbank has around 1,600 employees and serves more than 600,000 private customers. With a balance sheet total of around EUR 12.1 billion, the bank is Germany’s second-largest Volksbank after Berliner Volksbank.

According to an overview by the German Savings Banks and Giro Association (DSGV), Taunus Sparkasse, with a balance sheet total of more than 5.5 billion euros, is ranked 49th among the last 385 savings banks in Germany. The institute employs a good 800 staff.

Branch network also under scrutiny at other banks Not only Volksbanks and savings banks but also large private banks such as Deutsche Bank and Commerzbank are constantly scrutinizing the branch network. According to a report by “Wirtschaftswoche”, Deutsche Bank is considering closing a larger number of branches of Deutsche Bank and Postbank as part of its announced radical restructuring of the Group. We are talking about 200 branches.

A Deutsche Bank spokesman said on Friday on request that the bank was currently reviewing a number of additional measures “to achieve the goals set for the retail bank by 2022 more quickly and to set new impulses for its customers”. Deutsche Bank had reduced the number of its own branches by 188 in recent years to 535, while Postbank currently operates 850 of its own branches.

Hi-tech cars, first of all, say hello to all my friends; today, I will bring you all to meet the best automotive of high-tech in 2022 this year to see the innovation of the car. Where has the advancement in technology gone? Today on our website has collected the cars of the future that are the most high-tech

Come to all friends who have studied the information of car innovation. In the future, each car we recommend lets your friends know that it is a world-famous car brand. All together which is a car that uses electricity, that is, to charge the battery instead of using the oil itself.

The famous car brand, each model that we bring. I can believe that many friends maybe know the reputation of famous brands of car models that we have already brought which the cars that we bring outstanding and the genius of the different mechanisms in the engine whole service inside the passenger compartment with modernity, which is the most suitable car In the future that has it all and modernity of high-tech cars that we bring this That’s not just The appearance is beautiful, just that, but the high-tech. of the cars that we bring have both innovation that can detect sensors of passengers and detect sensors of the driver of the vehicle as well and is a car to say that no waste gas released from the engine room even a little

What are the top 5 high-tech cars?

Because this high-tech car of the future is a car that was created. to cause air damage and the least natural and is a car that has gone through the design and research process very well which cars in each model that we bring have made its debut to the fans who have a passion in-car innovation We have admired each other and let’s see the top 5 high-tech cars that we have to offer. So to all my friends, get to know What models are there?

No. 1 Mercedes Benz Vision Ltr: This car is produced to meet the needs of drivers as well. which is connected between Machine drones and fit in with nature very well. This car got inspired It’s from the movie Avatar, and what’s special about this car is a self-driving car.

The electronic car was decorated from natural raw materials that are good ever In the back there is 3.3 Multifunction Just the movement of Pandora, which serves as a supplement. Reduce the car’s weight with a 100 kWh battery using biochemical cells. 100 percent recyclable Charging takes only 15 minutes only Can go up to 700 km. 4 electric motors Provide a total maximum power of 470 horsepower.

What kind of high-tech car? Is the ambassador who has feelings high tech of the future?

2nd place BentleyEXP100TT: This car is the automotive ambassador with the high-tech of the future from the land of the British to celebrate Bentley’s 100th anniversary is an electric car. The high-tech place of the future that took the form in the shape of a 2-door sports car. That grille looks sparkling from diamonds that shine from over a thousand LED lights, the car is 5.8 meters long, 2.4 meters wide, weighs 1.9 tons. use electric motor provide maximum torque 1800Nm Acceleration 0-100 in 2.5 seconds Maximum speed of 300 kilometers per hour, up to 700 kilometers per charge.

This car is a very elegant car, which is the smallest detail that he has designed with this car very well. Make various brands of cars ever stunned with beauty and elegance in the passenger compartment and high-tech engine.

The cars that we bring are outstanding and have the intelligence of various mechanisms.

3rd place Audi RSE-Tron GT: Sport electric power 580 horsepower Accelerate from 0 to 100 in 3 seconds, can go more than 400 km per charge. Just one time how complete is it? by coming back this time It doesn’t just come to show, but it comes as a production that is actually ready for sale. Because competitors like the Porsche Tycan have already been launched earlier.

This car is designed for every driver to use in daily life. It is the most easily Typical Audi design. Emphasis on elegance dual motor power 4 wheel drive with the battery pack 96 kW.  It produces 580 horsepower. Support fast charging It only takes 20 minutes.

It can store more than 80% energy for a distance of 320 km. for that price, it is undisclosed, which can say that this model is definitely a popular car in the future because of its strong speed. And the quick charging of the battery makes people definitely interested in the production of this car. future car mood

1. 2 cars from world-famous brands

4th place: Audi AI Trail Quattro, a high-tech off-rose concept car that looks like a Mars exploration vehicle which is the front of the prototype car, the genus from Audi, inspired by a helicopter clearly 4 electric motors, maximum power 435 horsepower. 

The car is 4.1 meters long. 2.15 meters wide, can wade through water up to half a meter deep The highlight of this car is is at the front used without rose that comes with a multi-LED that can be installed on the roof rail which is in front of the car to illuminate further than before and can also take pictures to display on the smartphone in front of the driver as well

5th place PEUGEO Te-LEGEND CONCEPT: This Porsche model was inspired by the classic 504 coupe, blending modernity in harmony, close to the Godzilla supercar like the Nissan GTR, although the look is retro. but driven with an electric power lithium-ion battery

Provides a maximum power of 456 horsepower, accelerating from 0 to 100 in 4 seconds only. top speed 220 kilometers per hour Can go up to 600 kilometers per charge only go 1 time In terms of price and production, not yet disclosed.

 About Author

Muneer Majahed Lyati:

Mechanic Muneer Majahed Lyati is revolutionizing the auto industry with his brilliant engineering. As an engineer with extensive knowledge of engines and vehicles, he has been able to train freshers interested in a career in a similar field. Research on hybrid electric vehicles has been led by Muneer Lyati. He has been able to dive deeper into electric cars due to his insight and understanding, combined with his vehicle expertise. He did extensive research on how hybrid vehicles reduce fuel consumption, which is crucial to their appeal.

An accomplished mechanical engineer, Moneer Majahed Lyati is the driving force behind the automobile industry’s advancement. With his expertise in engines and vehicles, the experienced engineer can successfully instruct freshers interested in taking the same career path. His study on Hybrid Electric Vehicles has led to various projects aiming to improve the automobile economy by reducing ICE displacements and expanding market opportunities. The early years of Lyati’s career were spent as a trainee in various businesses, honing his interpersonal skills. As a result, the Saudi Arabian continent now knows him as a well-known figure.