"Wash Wash" (Money Laundering) explained in layman's terms.
1. Cleansing "dirty" money.
2. Putting "dirty" money into the "clean" system
3. Making proceeds from "illegal" trade to become "legal"...
Money laundering is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration. ... Finally, it is integrated into the financial system through additional transactions until the "dirty money" appears "clean".
Eg... You stole KES 20B (in cash) from another country. You (an events company in Kenya) purport to hold an event the most expensive hotel in Nairobi, host an international "prominent" artiste, make "entrance fee" to be ambiguous i.e charge Ksh 10k booking rates, Ksh 100k VIP rate... and Ksh 50k at the entrance.
Then..
Make as many tickets as possible, give out through radio shows while marketing the event... And of course, give many "complementary tickets" to University of Nairobi students 🤣🤣... After the event, go bank 10million... If they ask you source of your money, you show them the counterfoils of the tickets that People "purchased" to attend the "expensive event"...
Repeat the process with many other musicians and events untill all Your 20B is safe in your accounts...
I hope you understand better. 💯
Jeremiah Mauti
