“It was my first job,packing the groceries in bags and boxes at the supermarket. My supervisor handed me a brown paper bag and instructed me to take it upstairs accompanied by the security guard on duty at the grocery. I peeked inside the brown bag and there were coils of $100 notes in TTD cuurency. This was not the cash from the cash registers because there are set times where all the cashiers would clear their drawers. I delivered the bag upstairs as instructed and returned behind cash register #5 where I was placed for the page.” These were the words of my client. I told him that tomorrow he would appear before the Magistrate and would be asked if he pleaded guilty or not guilty to the charges.
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Is your local supermarket a front for a money laundering operation ? It is possible. Supermarkets are cash intensive businesses and many of them in Trinidad, do not accept Linx. There are other supermarkets that will even change your government issued disability checks as long as you purchase a few items.
Below are the Top 10 Ways to Launder Dirty Money using a Supermarket:
1.Use dirty cash as float or change to be used by cashiers to give to customers;
2.Use cash gained from illegal activities to pay suppliers such as fresh fruits and vegetables vendors,coconut water suppliers. Some suppliers accept cash only or even extend 7 days or 30 days credit to the supermarket;
3.Employees of the supermarket can be paid in cash weekly with the proceeds of crime. Most staff of a supermarket receive cash payments in brown a envelope;
4.Bags of dirty cash can be deposited into the supermarket’s business bank account as cash from sales;
5.Rent for the premises of the supermarket can be paid with dirty money;
6.Utilities such as electricity, internet and water can be paid with money obtained from illegal activities;
7.Accept checks from recipients of disability checks issued by the Government and pay them with cash gained from criminal activities;
8.Dirty Cash in small denominations ($10 bills, $20 bills) can be given to the cashier and she will exchange it with $100 bills, or just change the notes;
9. The grocery can sell items wholesale such as cigarettes and alcohol to a bar that is also owned by the proprietor of the supermarket ,dirty cash will be used for this purchase;
10.Cash can be accepted and fake invoices generated and the grocery issues a checks to the criminal.
About the Author: Antoinette Sydney LLB LEC CAMLFC CFRMP, Bar No. SYA2015211, Attorney at Law. The author is the first Online Lawyer based in Trinidad and Tobago. Her entire Law Practice is based Online using technology. Client meetings are conducted at mutually convenient meeting points. She has clients in Guyana, St Vincent, Barbados, the British Virgin Islands and North America. She specializes in Corporate Law and Anti-Money Laundering Compliance. She helps clients to start their Online Business Empire.
Check out my Online Companies: www.asydneygroup.com
Call/Whatsapp for a quotation 868 373-1166
I am a Certified Professional in the following areas:
Anti-Money Laundering and Financial Crimes;
Fraud Risk Management;
Anti-Money Laundering (AML) Training for staff, directors;
Anti-Money Laundering Audits;
Compliance Program drafting;
Consulting services and much more.
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Ebooks on Sale:
Only $100 TTD
How to Register a Sole Trader;
How to Register a Limited Liability Company;
How to De-Register a Sole Trader;
How to Register a Partnership;
How to Change from a Sole Trader to a Limited Liability Company Trinidad;
How to Dissolve a Limited Liability Company.
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