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| Photo courtesy of EAST |
Can ATMs be used to launder 'dirty' money back into circulation? If a genuine card is used to make a cash withdrawal from a bank account that has been opened in an environment where there are lax account opening controls, then yes. An account could be opened in one country and fed with 'dirty' money - then a genuine card from that account could be used to make hard currency withdrawals at ATMs in another country up to allowed daily withdrawal limits. The higher the allowed daily limit, the more attractive the country is for criminals. Prepaid cards can be used for the same purpose.
