Y.O. Profile picture
21 Feb, 3 tweets, 1 min read
If I rob a bank today & on my way home, police arrest me with 1bn in cash, even if they can’t prove I robbed the bank, it’d be hard for me to prove I got the money legitimately..
Now imagine instead of going home with the money, I give it to my friend who has a betting company.
Because betting companies deal with lots of cash from customers, he can deposit the money in his bank account legitimately without necessarily raising suspicion..
Then he’d set up a transaction that’ll look like I won a bet on his platform, then transfer the money to me..
This way,the money has been cleaned (laundered) in such a way that,it looks like I got it legitimately (through betting) despite the fact that it was proceed of crime.
In essence,money laundering is the act of cleaning dirty money by making it look like it was gotten legitimately

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More from @yojora

18 Feb 19
I know someone that was picked up for wandering during the 2007 elections but was quickly bailed by his folks, he saw some of the people picked with him that weren’t so lucky to be bailed paraded as election thugs the next day in the news..
Imagine if they were shot at sight..
In Nigeria, security forces especially the police are looking for these opportunities to overdo..
They were looking for yahoo boys; they started raiding cyber cafes,stopping young boys in cars,buses & on bikes to harass them, checking phones & laptops
They were looking for armed robbers & sars became a menace.
Cultists, they started arresting people with dreads, tattoos & those who wear ripped jeans.
Read 6 tweets

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