[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:11.09,0:00:13.98,Default,,0000,0000,0000,,As one of the most notorious gangsters\Nin history,
Dialogue: 0,0:00:13.98,0:00:19.93,Default,,0000,0000,0000,,Al Capone presided over a vast\Nand profitable empire of organized crime.
Dialogue: 0,0:00:19.93,0:00:21.74,Default,,0000,0000,0000,,When he was finally put on trial,
Dialogue: 0,0:00:21.74,0:00:26.36,Default,,0000,0000,0000,,the most he could be convicted of\Nwas tax evasion.
Dialogue: 0,0:00:26.36,0:00:28.60,Default,,0000,0000,0000,,The nearly $100 million a year,
Dialogue: 0,0:00:28.60,0:00:32.31,Default,,0000,0000,0000,,that's 1.4 billion in today's currency,
Dialogue: 0,0:00:32.31,0:00:34.74,Default,,0000,0000,0000,,that Capone had earned from\Nillegal gambling,
Dialogue: 0,0:00:34.74,0:00:35.90,Default,,0000,0000,0000,,bootlegging,
Dialogue: 0,0:00:35.90,0:00:37.04,Default,,0000,0000,0000,,brothels,
Dialogue: 0,0:00:37.04,0:00:38.41,Default,,0000,0000,0000,,and extortion,
Dialogue: 0,0:00:38.41,0:00:41.32,Default,,0000,0000,0000,,would have served as evidence\Nof his crimes.
Dialogue: 0,0:00:41.32,0:00:44.98,Default,,0000,0000,0000,,But the money was nowhere\Nto be found.
Dialogue: 0,0:00:44.98,0:00:49.26,Default,,0000,0000,0000,,Capone and his associates had hidden it\Nthrough investments in various businesses
Dialogue: 0,0:00:49.26,0:00:52.74,Default,,0000,0000,0000,,whose ultimate ownership\Ncouldn't be proven,
Dialogue: 0,0:00:52.74,0:00:55.47,Default,,0000,0000,0000,,like cash-only laundromats.
Dialogue: 0,0:00:55.47,0:01:00.60,Default,,0000,0000,0000,,In fact, those laundromats are part of\Nthe reason for the name of this activity,
Dialogue: 0,0:01:00.60,0:01:02.100,Default,,0000,0000,0000,,money laundering.
Dialogue: 0,0:01:02.100,0:01:06.24,Default,,0000,0000,0000,,Money laundering came \Nto be the term for any process
Dialogue: 0,0:01:06.24,0:01:12.18,Default,,0000,0000,0000,,that cleans illegally obtained funds\Nof their dirty criminal origins,
Dialogue: 0,0:01:12.18,0:01:16.52,Default,,0000,0000,0000,,allowing them to be used within\Nthe legal economy.
Dialogue: 0,0:01:16.52,0:01:20.38,Default,,0000,0000,0000,,But Capone wasn't the first\Nto launder money.
Dialogue: 0,0:01:20.38,0:01:24.61,Default,,0000,0000,0000,,In fact, this practice is about\Nas old as money itself.
Dialogue: 0,0:01:24.61,0:01:27.54,Default,,0000,0000,0000,,Merchants hid their riches from\Ntax collecters,
Dialogue: 0,0:01:27.54,0:01:31.75,Default,,0000,0000,0000,,and pirates sought to sell their bounty\Nwithout drawing attention
Dialogue: 0,0:01:31.75,0:01:33.84,Default,,0000,0000,0000,,to how they got it.
Dialogue: 0,0:01:33.84,0:01:36.10,Default,,0000,0000,0000,,With the recent arrival \Nof virtual currencies,
Dialogue: 0,0:01:36.10,0:01:37.77,Default,,0000,0000,0000,,offshore banking,
Dialogue: 0,0:01:37.77,0:01:39.47,Default,,0000,0000,0000,,the darknet,
Dialogue: 0,0:01:39.47,0:01:41.14,Default,,0000,0000,0000,,and global markets,
Dialogue: 0,0:01:41.14,0:01:44.61,Default,,0000,0000,0000,,schemes have become much more complex.
Dialogue: 0,0:01:44.61,0:01:47.88,Default,,0000,0000,0000,,Although modern money laundering\Nmethods vary greatly,
Dialogue: 0,0:01:47.88,0:01:50.84,Default,,0000,0000,0000,,most share three basic steps:
Dialogue: 0,0:01:50.84,0:01:51.95,Default,,0000,0000,0000,,placement,
Dialogue: 0,0:01:51.95,0:01:53.14,Default,,0000,0000,0000,,layering,
Dialogue: 0,0:01:53.14,0:01:55.48,Default,,0000,0000,0000,,and integration.
Dialogue: 0,0:01:55.48,0:02:00.34,Default,,0000,0000,0000,,Placement is where illegally obtained\Nmoney is converted into assets
Dialogue: 0,0:02:00.34,0:02:02.37,Default,,0000,0000,0000,,that seem legitimate.
Dialogue: 0,0:02:02.37,0:02:05.66,Default,,0000,0000,0000,,That's often done by depositing funds\Ninto a bank account
Dialogue: 0,0:02:05.66,0:02:11.74,Default,,0000,0000,0000,,registered to an anonymous corporation\Nor a professional middleman.
Dialogue: 0,0:02:11.74,0:02:15.40,Default,,0000,0000,0000,,This step is where criminals are often\Nmost vulnerable to detection
Dialogue: 0,0:02:15.40,0:02:18.97,Default,,0000,0000,0000,,since they introduce massive wealth\Ninto the financial system
Dialogue: 0,0:02:18.97,0:02:21.90,Default,,0000,0000,0000,,seemingly out of nowhere.
Dialogue: 0,0:02:21.90,0:02:26.28,Default,,0000,0000,0000,,The second step, layering, involves\Nusing multiple transactions
Dialogue: 0,0:02:26.28,0:02:30.07,Default,,0000,0000,0000,,to further distance the funds\Nfrom their origin.
Dialogue: 0,0:02:30.07,0:02:33.13,Default,,0000,0000,0000,,This can take the form of transfers\Nbetween multiple accounts,
Dialogue: 0,0:02:33.13,0:02:35.76,Default,,0000,0000,0000,,or the purchase of tradable property,
Dialogue: 0,0:02:35.76,0:02:37.43,Default,,0000,0000,0000,,like expensive cars,
Dialogue: 0,0:02:37.43,0:02:38.30,Default,,0000,0000,0000,,artwork,
Dialogue: 0,0:02:38.30,0:02:39.92,Default,,0000,0000,0000,,and real estate.
Dialogue: 0,0:02:39.92,0:02:43.78,Default,,0000,0000,0000,,Casinos, where large sums of money\Nchange hands every second,
Dialogue: 0,0:02:43.78,0:02:47.21,Default,,0000,0000,0000,,are also popular venues for layering.
Dialogue: 0,0:02:47.21,0:02:50.61,Default,,0000,0000,0000,,A money launderer may have their\Ngambling balance made available
Dialogue: 0,0:02:50.61,0:02:53.96,Default,,0000,0000,0000,,at a casino chain's locations \Nin other countries,
Dialogue: 0,0:02:53.96,0:02:57.71,Default,,0000,0000,0000,,or work with employees\Nto rig games.
Dialogue: 0,0:02:57.71,0:03:03.26,Default,,0000,0000,0000,,The last step, integration, allows clean\Nmoney to re-enter the mainstream economy
Dialogue: 0,0:03:03.26,0:03:06.06,Default,,0000,0000,0000,,and to benefit the original criminal.
Dialogue: 0,0:03:06.06,0:03:08.67,Default,,0000,0000,0000,,They might invest it into a legal business
Dialogue: 0,0:03:08.67,0:03:11.31,Default,,0000,0000,0000,,claiming payment by producing\Nfake invoices,
Dialogue: 0,0:03:11.31,0:03:13.95,Default,,0000,0000,0000,,or even start a bogus charity,
Dialogue: 0,0:03:13.95,0:03:16.49,Default,,0000,0000,0000,,placing themselves \Non the board of directors
Dialogue: 0,0:03:16.49,0:03:19.37,Default,,0000,0000,0000,,with an exorbitant salary.
Dialogue: 0,0:03:19.37,0:03:20.69,Default,,0000,0000,0000,,Money laundering itself
Dialogue: 0,0:03:20.69,0:03:26.95,Default,,0000,0000,0000,,wasn't officially recognized as a federal\Ncrime in the United States until 1986.
Dialogue: 0,0:03:26.95,0:03:30.73,Default,,0000,0000,0000,,Before that point, the government\Nneeded to prosecute a related crime,
Dialogue: 0,0:03:30.73,0:03:33.68,Default,,0000,0000,0000,,like tax evasion.
Dialogue: 0,0:03:33.68,0:03:37.84,Default,,0000,0000,0000,,From 1986 on, they could confiscate\Nwealth simply by demonstrating
Dialogue: 0,0:03:37.84,0:03:40.61,Default,,0000,0000,0000,,that concealment had occurred,
Dialogue: 0,0:03:40.61,0:03:44.57,Default,,0000,0000,0000,,which had a positive effect on prosecuting\Nmajor criminal operations,
Dialogue: 0,0:03:44.57,0:03:46.88,Default,,0000,0000,0000,,like drug traffickers.
Dialogue: 0,0:03:46.88,0:03:49.90,Default,,0000,0000,0000,,However, a legal shift has raised concerns
Dialogue: 0,0:03:49.90,0:03:53.93,Default,,0000,0000,0000,,involving privacy \Nand government surveillance.
Dialogue: 0,0:03:53.93,0:03:55.85,Default,,0000,0000,0000,,Today, the United Nations,
Dialogue: 0,0:03:55.85,0:03:57.41,Default,,0000,0000,0000,,national governments,
Dialogue: 0,0:03:57.41,0:03:58.99,Default,,0000,0000,0000,,and various nonprofits
Dialogue: 0,0:03:58.99,0:04:00.93,Default,,0000,0000,0000,,fight against money laundering,
Dialogue: 0,0:04:00.93,0:04:06.03,Default,,0000,0000,0000,,yet the practice continues to play\Na major role in global crime.
Dialogue: 0,0:04:06.03,0:04:08.82,Default,,0000,0000,0000,,And the most high-profile instances\Nof money laundering
Dialogue: 0,0:04:08.82,0:04:11.80,Default,,0000,0000,0000,,have involved \Nnot just private individuals,
Dialogue: 0,0:04:11.80,0:04:17.21,Default,,0000,0000,0000,,but major financial institutions\Nand government officials.
Dialogue: 0,0:04:17.21,0:04:20.10,Default,,0000,0000,0000,,No one knows for sure the total\Namount of money
Dialogue: 0,0:04:20.10,0:04:22.83,Default,,0000,0000,0000,,that's laundered on a yearly basis,
Dialogue: 0,0:04:22.83,0:04:29.74,Default,,0000,0000,0000,,but some organizations estimate it to be\Nin the hundreds of billions of dollars.