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Tax Engineering

What does it mean to launder money like "Japanese ants"?


Question

To launder money like "Japanese ants", what does this financial expression mean?

Answer

The financial term "Japanese ant" is defined as a sophisticated money laundering technique in which more than 1000 people can intervene. It works the following way: the ant receives a small amount of money, usually less than 10,000 British Pounds so that it can pass customs controls and deposit it in another country bank account. Another technique that can be applied is that once the ant lands in the country, he buys luxury products, leaves them in storage at a second-hand jewelry store so he can sell them in exchange for a commission. The detection of this type of money laundering is very complicated since small amounts of money are used and the intermediary businesses where they hide the product have a legal activity that is unnoticed by regulators. What is the origin of this term? The origin of term "Japanese ants" is due to a plague of red ants from South America in Osaka-Japan in 2017 that completely destroyed rice plantations leaving the country in a great economic crisis.



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