Some of the common examples of money laundering include:
1. Property laundering. Less common these days, property laundering involves buying properties for cash sums where the cash has been illegitimately gained. Changes in anti-money laundering regulations have successfully reduced opportunities to buy property with cash.
2. Casino and gambling laundering. A launderer purchases casino chips, which they later return for cash or transfer into their account. Casinos have checks in place these days to reduce this type of money laundering from taking place.
3. Trade-based laundering. This typically involves company directors who move money between businesses. To banks and HMRC, these transactions look like legitimate business transactions that are often mixed in among real business takings.
4. Forfeiture.This is where the police can seize cash sums of over £1,000 if they believe they have been illegitimately gained.