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How to launder billions of dollars

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Money laundering, that staple of films, both comic and thriller, has changed since the days when gangsters ran local fronts that only dealt in cash.

A recent Justice Department indictment of the founders of Liberty Reserve, a digital currency company, allows us a rare peek into the mechanics of cleaning criminal lucre. One of those founders, Vladimir Kats, pled guilty on Friday in a New York court.

"Vladimir Kats, by his own admission, helped to create and operate an anonymous digital currency system that provided cybercriminals and others with the means to launder criminal proceeds on an unprecedented scale," said acting assistant attorney general Mythili Raman.

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