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Lets say youre a criminal with millions or even billions of dollars, but you have one big problem: Transferring large sums of money or carrying suitcases full of cash will raise eyebrows. You need to launder the dough to make the dirty money appear to be clean money, so that then it can be spent anywhere in the world (say, on real estate, luxury yachts, strip clubs) no questions asked. Fear not. With a little financial detergent, your dirty money can become more or less untraceable. China leads the world in this ancient art. Between 2002 and 2011, some $1.08 trillion departed the country illegally, despite currency-control laws that require people to obtain a permit to exchange more than $50,000 a year worth of yuan into any foreign currency. But this is a truly international pastime. Corrupt politicians, drug cartels, alimony deadbeats, nearly everybodys doing it. When it comes to money laundering there are three main steps to doing it right. The first step is the placement. Place