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Research: Small stores are pefect to launder 'dirty money'

A crime researcher says there are a number of Cape Town businesses that are perfect money laundering fronts.

FILE. Pagad is looking into claims that some Athlone businesses are running money laundering operations. Picture: @Nus_ismahero via Twitter

CAPE TOWN - A crime researcher says there are a number of Cape Town businesses that are perfect money laundering fronts.

People Against Gangsterism and Drugs (Pagad), is looking into claims that some Athlone businesses are running money laundering operations.

Eyewitness News has learnt a business owner in Athlone is being harassed by gangs who are extorting him.

Don Pinnock, from The University of Cape Town (UCT)'s Centre of Criminology, has been researching gangs, their criminal activities and trends for many years.

He says research shows there are certain businesses in which so called 'dirty money' will be invested and most likely never discovered.

He believes operations like video stores and car dealerships are perfect for money laundering schemes.

"Often little businesses are money laundering. Car places, not all obviously, but some. Video shops are another way of doing it, people are putting money in all the time and there are no receipts.'

Pinnock says money laundering is a multibillion rand operation and believes its bigger than the illegal drug trade in the country.