Glossary entry

Serbian term or phrase:

Zavrteti

English translation:

spin the money (through various banks)

Added to glossary by Bogdan Petrovic
May 21, 2022 18:05
1 yr ago
13 viewers *
Serbian term

Zavrteti

Serbian to English Law/Patents Law (general) Pranje novca
U sledećem kontekstu:

Најчешће су рачуни ових привредних друштава коришћени за већи број нов- чаних трансфера по основу фиктивних правних послова, како би се новац „завртео“ кроз банкар- ски сектор и тако створио привид законитог прихода.

Proposed translations

7 hrs
Serbian term (edited): zavrteti novac (kroz bankarski sektor)
Selected

spin the money (through various banks)

It was most likely a literal translation from English in the first place, anyway.

The image is of money "going around (/being moved around) at great speed".


Globally, a dizzying $US2 trillion spins through the murky money cleansing scene every single year, the International Monetary Fund estimates. But they don’t know for sure, either. When one of the world’s top anti-money laundering muckrakers, Professor Jason Sharman, of Queensland’s Griffith University, asked the IMF how they arrived at that sum, “they admitted they made it up”.
...
Terrorism funding works in reverse. Take legal funds, earned from Middle Eastern oil fields, say, or charitable donations from “generous” benefactors, perhaps. Then spin the money through multiple entities – shell companies, for example, created for the sole purpose of tactically manoeuvring funds from one entity to another. And, hey presto, the whole lot lands in the terrorists’ burgeoning coffers. Next thing you know, Isis parades a fleet of brand-new, shiny black Toyota Land Cruisers through the streets of Syria.
...
https://www.nowtolove.co.nz/news/real-life/taking-us-to-the-...

Money Laundering Stages:

Money Laundering is done in several varieties of transactions that are almost impossible to identify and track down the illegitimate transactions, compared to the legitimate ones.

Step One: Placement — getting the cash into the physical system.
Step Two: Layering — Spin the money around the world, in and out of fake companies that can never be traced back to the original source. This step is followed by sending phony invoices between those companies for all kinds of goods and services that never existed. Their banks pay those invoices wiring money back and forth across borders. It’s often impossible to follow the money trail due to digitization of global markets. It’s easier to layer with the countries that are disconnected from the rest of the world in banking services.
...
https://hindupost.in/business-economy/anti-money-laundering-...

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30 mins

Layering (Process)

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1 hr

(to) launder

"Money laundering is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source."

"Најчешће су рачуни ових привредних друштава коришћени за већи број нов- чаних трансфера по основу фиктивних правних послова, како би се новац „завртео“ кроз банкарски сектор и тако створио привид законитог прихода."
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