Title: What Is Money Laundering and What Is Its History? - TheStreet
Headings: What Is Money Laundering and What Is Its History?
What Is Money Laundering and What Is Its History?
Money laundering has been around for 2,000 years, and it's still pervasive - and just as hard to track - today.
Money Laundering Broken Down
History of Money Laundering
Steps Used in Money Laundering
1. Placement
2. Layering
3. Integration
The Amount of Money to Be Laundered Matters
Money Laundering in the 21st Century

Content: Penalty-wise, money laundering is virtually always cited as a felony offense, although misdemeanor cases do appear from time to time. If found guilty of a misdemeanor money laundering case, a criminal can expect a year or so in jail. If found guilty of a felony, the guilty party can expect in excess of one year in jail, plus fines and penalties. Repeat offenders have been sent away to jail for as many as 35 years. Fines vary from state to state, and with federal cases. As a rule of thumb, though, fines are often designated in twice the amount of the money laundered. For example, if a criminal launders $500,000 in cash, the fine often stands at $1 million. History of Money Laundering
Historically, money laundering has been around in some form for 2,000 years, when Chinese merchants cycled money through various businesses and complex financial transactions to hide the income from government bureaucrats, who sought to garnish the income. Some historians tie the term "money laundering" more prominently to the early 1900's and gangsters like Al Capone, who is said to have to bought up laundromats to funnel dirty money (from activities like bootlegging and prostitution) through the laundromats and mix the cash with legitimate business income. In that way, Capone and other gangsters were able to hide the money from law authorities
It wasn't until later in the 20th century when law enforcement tied the terms "money" and "laundering" together - partly to identify gang members, drug dealers, Mafia kingpins and other criminal elements who disguised the source of cash earned illegally, and laundered that cash into legitimate and legal funds.