Cameron manages an illegal gambling operation in his BBQ Bar & Grill. Cameron reports the profits of the gambling operation as income from BBQ's legitimate activities on its tax returns. This is

Question

Social Studies

Mann

3 March, 14:56

Cameron manages an illegal gambling operation in his BBQ Bar & Grill. Cameron reports the profits of the gambling operation as income from BBQ's legitimate activities on its tax returns. This is

+2

Answers (1)

Know the Answer?

Taniya Ramos · Answer 1

money laundering.

Explanation:

Cameron manages an illegal gambling operation in his BBQ Bar & Grill. Cameron reports the profits of the gambling operation as income from BBQ's legitimate activities on its tax returns. This is money laundering. Money laundering is the practice/process of concealing illegal gotten money through various practices such as numerous bank transfers to foreign untraceable accounts or through series of transactions so that the money appears to be from legal sources such as Cameron is doing. Money laundering is a criminal offence that is punishable by law. The process of making the money seem to appear from a legal source is known as cleaning up.