In this video I’m going to talk about money laundering and how it affects the luxury watch market. Also explained is how money laundering works in the luxury watch market. It’s no secret that luxury watches are the preferred currency for money launderers.
The global watch market is currently estimated to be about 8 billion dollars and growing. It begs the question. How much of a factor is money laundering in the continued rising prices of luxury watches?
Later on, I’ll explain the US reporting requirements and anti money laundering requirements for US based business.
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Do you have questions about Money Laundering Explained By CPA | Dirty Money & The Luxury Watch Market? I’m an Illinois licensed, Registered Certified Public Accountant with over 25 years of experience. I’m dedicated to providing outstanding tax and accounting services to individuals and small businesses in the Chicago area.
Disclaimer: Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, I would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.