The intersection between luxury goods and financial crimes.
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GUEST – Steven Powell, head of ENSafrica's forensics practice
Luxury goods encompass high-end items that are associated with prestige and significant monetary value. In the context of financial crime, luxury goods such as watches, cars, jewelry, yachts, and art are often targeted by money launderers. These items can serve as relatively easily acquired and easily transferable assets, which can be used for the placement, layering, and integration stages of money laundering schemes.
Luxury goods encompass high-end items that are associated with prestige and significant monetary value. In the context of financial crime, luxury goods such as watches, cars, jewelry, yachts, and art are often targeted by money launderers. These items can serve as relatively easily acquired and easily transferable assets, which can be used for the placement, layering, and integration stages of money laundering schemes.