The Myth and Reality of Washing Money: Debunked and Discussed

Many believe the act of washing money is a real and viable method for either cleaning coins or laundered funds. However, the reality is quite different. This article aims to uncover the truth behind both coin washing and the myth of washing money through a washing machine. Beyond that, it also delves into the serious offense of money laundering in most countries and how it can be addressed.

Can You Really Wash Coins?

The idea of cleaning coins by washing them is a practical one, especially when dealing with hundi, or offering boxes, at temples. People often clean coins by placing them in a solution of water and detergent for a set period. Here is a typical process:

Fill a plastic bowl with half-level detergent. Add water to the detergent. Submerge the coins and shake them every half an hour for about 2 hours. Wash the coins in clean water. Dry them on a newspaper.

While coins can be cleaned in such a manner, the process of washing currency notes, such as those meant for circulation, is a bit more complicated. Modern plastic notes can be placed in a mesh washing bag to prevent them from being sucked into the drain. However, it’s advised not to tumble dry these notes, as they may shrink. Paper currency, on the other hand, is not advisable to wash as it could easily be damaged.

For those who want a more entertainment-friendly method, putting coins through a washing machine could be tempting, but it’s not as simple as it seems. Coins might escape and jam the machine, making it unsuitable for this purpose. The safest option, and the most effective for cleaning, is to wash them by hand.

Money Laundering in Casinos: An Untypified Journey

Surprisingly, money laundering can be carried out at casinos through a series of steps. The process involves:

Taking a suitcase full of drug money to a cashier and converting it to casino chips. Playing for a few hours at the casino tables using a portion of the chips while ensuring the rest are untouched. Converting the chips back to cash with a different cashier and securing a winnings receipt.

This method effectively transforms illicit funds into seemingly legitimate earnings. This, however, does not change the fact that money laundering is a serious offense in most countries, and such actions can lead to severe legal consequences.

Laundering Money through Business Ventures

Another method of money laundering involves creating or investing in a business to divert illicit funds into. The process can be simplified as follows:

Create a legal business with no ID requirements from customers and no restrictions on cash transactions. Engage in fake transactions to show that the business is earning legal income. Cross-reference the income generated by the business to the illicit funds.

The less regulated the business, the better, as it provides a higher degree of anonymity. Making such businesses personally or investing in existing ones can be the best way to launder money.

It’s important to note that taking any of these activities to the extreme can lead to dire consequences, including permanent damage to personal property and severe legal penalties.

In conclusion, the practices of washing money through a washing machine or coins through a water and detergent solution are myths. While cleaning coins can be done safely, and money laundering through casinos and businesses can happen, these actions are illegal and ethically reprehensible. It is crucial to understand the laws surrounding money laundering to avoid participation in such activities.