Money laundering is a common activity happening in almost all developing and developed countries where the money that looks like usable can be re-used easily. Money laundering takes place whenever a criminal activity generates substantial profits; individuals want to hide, control, and legalize the funds without grabbing any attention from legal authorities.
Tony Abi Saab, owner of Brescia Middle East (BME), was accused in money laundering for illegal supply of weapons to the rebel groups active in war-prone countries that never existed and by using fake End User certificate on the products. One of Tony’s banker friends has been assisting him in opening accounts and managing money in the bank accounts of Kaslick that came by defrauding the US Government contract for 5 Million USD in Afghanistan for which Tony was arrested.
After a sting operation conducted by the US Agencies, Tony was caught red-handed with documents and cash in Afghanistan. The investigation team found that the transactions of BME’s bank accounts were doubtful, and the US Army found out that many of BME’s accounts were linked to the accounts of Tony’s shell companies. The ghost companies (K5 GLOBAL, Bennet-Fouch and Tactica-Ltd) were established to dupe international funds obtained from contract frauds and supply of weapons to war-torn countries. In 2011, Tony was arrested, but due to a technicality in the circuit court the evidence couldn’t be submitted in the civil court, and he even pleaded human rights violation against the US Agencies. Tony is a free man now and doing his illicit business through his shell companies.
The capability to detect and stop money-laundering is a very reliable way of determining lawbreakers, terrorists, and the hidden activity from which money is acquired. The involvement of investigative techniques and intelligence can be one way of detecting and disrupting the operations of terrorists and their organizations. The United Nations is working closely to identify all the money laundering frauds done by swindlers like Tobi Abi Saab to punish them.
Combating money laundering has become an international priority. One of the key factors for detecting money laundering and terrorist financing is to ensure the traceability of transactions to establish the origin of funds. Prevention, detection, and reporting should be performed by banking institutions and law enforcement agencies.