Forged financial histories let criminals launder hot cash over longer timeframe
Published 04/10/2016 | 02:30
Getting approved for a mortgage is impossible for people whose earnings are illegal.
They deal in cash. This is money that is obtained illegally, is not taxed and is hard for them to store.
These criminals do not have bank accounts, are not members of credit unions, do not have debit cards and are unlikely to use cheques. They are not part of the formal financial system.