International Drug Trafficking This paper will d

The problem of drug trafficking has existed for hundreds of years. The early Spanish explorers in South America noted that the native inhabitants placed great value in the coca leaf. It was constantly chewed by the Incas, who had originally restricted its use to the royal family and important guests. Pedro Cieza de LTon remarked that the Indians in Peru virtually carried coca leaves in their mouths throughout their waking hours. The Indians told him that the leaves kept them from getting hungry and gave them vigor and strength (Mortimer, 1974, pp. 148-68). The use of opium in the United States dates back to the Nineteenth Century, when the drug was introduced from Asia by Chinese immigrants. Native-born Americans began acquiring opium habits as the new drug spread uninhibited by legal restrictions. It was even prescribed by doctors for various "ailments" and its derivative, morphine, has long been used as a powerfu

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(if the owner is a U.S. resident or if the funds are to be reinvested) (Federal Bureau of Investigation, 1984, pp. 3-9). The other major method uses a legitimate business as a cover for large deposits of cash in U.S. banks. Simply serving as a disguise for the money, this business need not qualify as an exempt business under the reporting requirements. Two related methods require the launderer to acquire control of two corporate entities, one domestic and one foreign. In the first method, known as "double invoicing," the domestic corporation orders goods or services from the foreign corporation at inflated prices; the difference between the inflated price and the real value is then deposited in an offshore account (Jensen, 23 October 1989, p. 54; Federal Bureau of Investigation, 1984, p. 6). In the second method, the foreign corporation, usually a post office box or store front, is a subsidiary of the domestic corporation. This foreign sub "experiences" operating losses, requiring a transfer of funds from the domestic parent to cover the losses and generating tax deductions for the parent (Financial Crimes Enforcement Network, December 1990, p. 7). In the United States there are two sets of provisions which affect procee
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Approximate Word count = 4003
Approximate Pages = 16 (250 words per page)

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