Meet a government agent who laundered millions of dollars for Pablo Escobar.

Money laundering is a three-step process: placement, layering, and integration

"Placement" occurs when dirty money is introduced into the financial system. Then "layering" happens when the money is moved around to disguise where it actually came from. Finally, the money is placed in other assets or investments in a step called integration.

Cocainenomics

How did Pablo Escobar rise up out of the Medellin barrios to become the CEO of a $4 billion business? This immersive look at the global drug trade spawned by the notorious drug lord, who at his peak controlled 80% of the cocaine supply in the US. This deep dive includes visualizations showing how logistics of drug smuggling evolved over the years and traces the economic impact of the industry.

Money 'mules' don't always know they are laundering money

Money mules are anyone who receives money in a laundering scheme and then sends it forward, either to another company or to a financial institution. While some money mules—often called smurfs—actually work with criminals laundering money, getting someone to receive and then send money has become a popular scam.

There's a myth that Al Capone coined the term 'money laundering,' or the process of disguising the criminal origins of illegally obtained money so it can be used without detection.

Purchasing art is a common money laundering technique

Art is easy to transport internationally, susceptible to price inflation, and usually paid for with cash, making it a frequently used money laundering tactic. Additionally, loose regulations surrounding art transactions allow buyers to remain anonymous, adding an additional layer of ease for people trying to launder money.

A Chinese-Mexican alliance marked one of history's largest nonviolent money laundering schemes

In 2019, Chinese-American gangster Xizhi Li was arrested for an expansive money laundering scheme spanning four continents. Li reportedly laundered hundreds of millions of dollars for cartel members, wealthy Chinese Americans, and other foreign countries.

A former financial crime investigator says Hollywood has done a pretty good job depicting money laundering

A former financial crime investigator says "Narcos" and "Ozark" have pretty realistic scenes, but other well-known financial crime depictions like "The Wolf of Wall Street" are off base. Some of the main inconsistencies include overly dramatic gunfights and unrealistic cash amounts.

More than $2.6B has been laundered through US real estate in the past 20 years

All cash real estate transactions don't require extensive background and identity checks, creating a loophole for criminals who would otherwise be flagged for suspicious behavior to clean large amounts of money with one purchase. Real estate prices are easily manipulated and can be used to generate more income by renting the space, making it an attractive and common tool for money laundering.

Lack of regulation makes cryptocurrency a hotbed for money laundering.

Anti-money laundering laws forcing banks to report data have become important foreign policy tools

Since the Bank Secrecy Act of 1970, which required banks to report transactions exceeding $10K and keep records on customers, anti-money laundering laws have become an important proxy for American foreign policy initiatives. Increased regulation via financial institutions helps curb drug and human trafficking, as well as destabilize the financial infrastructure for terrorist organizations.

A video showing how drug dealing really works

What motivates people to sell drugs? The "News on Drugs" series asks how people get drawn into the drug trade, unpacking the different goals and aims involved in dealing drugs. While there is a lot of focus on cartels, traffickers, and gangs...

Watch the craziest ways cartels traffic drugs

The war on drugs has forced cartels to be increasingly creative when it comes to smuggling drugs. As police develop methods to catch smugglers, drug traffickers come up with new ways to get their products from producer to seller to buyer. This cycle...

Cocaine financed Uruguayan soccer player Sebastián Marset's childhood dream

Sebastián Marset was one of the most successful drug traffickers in South America. In order to launder the profits from his cocaine empire, he bought and sold professional soccer teams—which he played on.

An overview of drugs, crime, and cartels in Mexico

In 2006, the Mexican government launched a war on the drug cartels. The cartels and the drug trade fuel rampant corruption and violence in Mexico, contributing to tens of thousands of homicides in the country each year. Mexican drug cartels are also...

How the Montreal Protocol made CFCs the most valuable Miami contraband after cocaine

Following the 1990s production ban, smugglers flooded Miami with illegal chlorofluorocarbons used in air conditioning. A 15-kilogram cylinder bought for $70 in Europe could sell for $242 in the US, fueling multimillion-dollar black-market trade. (Some users may experience a paywall.)

Watch a man who counterfeited over $1M explain how to counterfeit money—including information about the materials and processes required to make fake money and how to spot a fake banknote.

Why is cocaine worth so much?

The global cocaine trade is worth an estimated $100B a year. But, where does that money go, who is spending it, and who is making it? Vice follows the money to understand why the cocaine business functions the way it does. From illicitly growing...

Organized crime, including money laundering, drains $1.96T from the global economy annually

Overall, financial crime drains $3T from the global economy, with organized crime making up nearly $2T of that total. Drug trafficking is the second-largest drain on the global economy.

15 facts about the Cali Cartel

The Cali Cartel was a drug cartel based in southern Colombia. Originally founded by the Rodríguez Orejuela brothers in the early 1970s, the cartel changed the structure of drug trafficking, and is often considered “the most powerful crime...

The story of a bitcoin loophole that gave one man millions

James Parker discovered a glitch in an Australian cryptocurrency exchange that would allow him to cash in credits worth over $20M and make big gifts to his friends. Like most loopholes, the authorities found out, but not before his life was transformed. The first in a six-part series.

The United States had a washing machine that cleaned dirty dollar bills

In the early 1900s, the US Treasury Department had a machine that washed and ironed old, soiled paper bills. The machine helped the Treasury save money by decreasing printing costs for new dollar bills, but had nothing to do with the modern understanding of money laundering.

Georgia inmate pulls off $11M heist—from inside his cell

Prisoner Arthur Lee Cofield Jr., 31, allegedly impersonated Sidney Kimmel, the uber-wealthy chairman and CEO of a Los Angeles entertainment company, with the help of contraband cell phones from inside his prison cell.

Individuals have been convicted of ordering assassinations from the dark web

Researchers have uncovered online storefronts allegedly run by members of various mafia or hitmen that offer to harm or murder individuals in exchange for monetary payment. However, no known murder has been attributed to any of them, and cybercrime task forces believe them to be scams (warning—sensitive content).

As of 2025, an estimated $3.2B in annual revenue flows through dark web platforms

The untraceable cryptocurrency Monero is used in about 60% of transactions across more than 37 active marketplaces that sell copyrighted materials, private information, and phishing kits—tools that help bad actors more easily create fake sites to steal users' data—for financial fraud.

Between 1989 and 2001, a security guard dubbed 'Uncle Jerry' rigged the McDonald's Monopoly sweepstakes by handing out 60 winning pieces worth more than $24M.

A map of global drug trafficking

The worldwide illegal drug trade continues to flourish. Accounting for almost 1% of the world’s financial revenue, the cocaine trade alone boasts an annual turnover of an estimated $85 billion. This infographic, from Around the World: An Atlas for...

Largely considered to be the inspiration for Gordon Gekko in the movie 'Wall Street,' Ivan Boesky was one of the most high-profile white-collar criminals and faced a $100M fine for insider trading in 1986.

'The Chinatown Sting': Unraveling an international drug smuggling ring

In the late 1980s, a group of women connected through the mahjong parlors in Manhattan's Chinatown were caught in a massive undercover drug bust. But this bust was just the beginning of an even bigger case.

Financial institutions use 'Know Your Client' standards to prevent money laundering

KYC standards include verifying customers' identities and conducting regular account checks for high-risk clients to avoid money laundering schemes. These standards obligate banks to report suspicious customers and activity.

Inside one of the largest US military bribery schemes

Glenn Defense Marine Asia Ltd. sprinkled US Navy officers with gifts, hosted events attended by Navy officers that were staffed by sex workers, and won millions of dollars worth of inflated military contracts to provide food, fuel, and security to Navy aircraft carriers. Leonard "Fat Leonard" Glenn Francis helmed the company. This 35-minute podcast episode is the beginning of a multi-part series sharing Francis' story from his perspective.

An eye-opening interactive journey into the global drug trade

POPPY Interactive reveals how drug money destabilizes entire countries, fuels global conflicts, and allows a worldwide illegal economy to grow. Navigating the site involves diving into three major routes—the Northern Route, the Balkan Route, and...

Art theft is the third-largest source of criminal revenues worldwide.

Step inside Colombia’s most powerful drug trafficking group

The AGC is Colombia’s most powerful drug trafficking organization. Founded by a paramilitary leader who dismissed the Colombian peace process, the AGC stands for the Gaitanist Self-Defense Forces of Colombia. Self-described as “an army fighting...

An LSD scientist's role in a US mind control project

Within a decade of LSD's discovery, the US government had launched a secret initiative involving hypnosis and hallucinogens. LSD researcher Louis Jolyon West conducted experiments for the CIA's MKUltra project, which focused on the potential of mind control. He later took part in a criminal trial that hinged on testimony whose sourcing was seemingly inspired by MKUltra experiments. This article explores light shed by West's personal archive.

The story of Olympian Ryan Wedding's rise and fall as drug kingpin

After a disappointing finish representing Canada in the slalom at the 2002 Winter Olympics, Wedding turned to growing cannabis and selling cocaine. After serving prison time, he upped his game and came to control major drug routes in North America, finding himself on the FBI's 10 Most Wanted List. He was captured in Mexico City in January 2026.

Often dubbed the 'king of bank robbers,' George Leonidas Leslie stole an estimated $7M (equivalent to $200M today) and charged other criminals a $20K fee to evaluate their heist plans

Leslie studied architecture and used blueprints of safes and banks to execute meticulously planned bank heists across the Northeast between 1869 and 1878. Although Leslie was an infamous bank robber by night, he posed as a member of high society by day, providing critical intel on the institutions he'd rob and helping conceal his crimes. Months before his largest planned heist, where he planned to turn on his gang, Leslie's body mysteriously washed up along the Hudson River. His killer remains a mystery.

The largest jewelry heist in US history resulted in $100M of jewelry stolen

Robbers stole the gems from a Brinks truck in Lebec, California, in July 2022. The truck was transporting the jewels to different jewelry shows in the state, and thieves stole diamonds, emeralds, gold, rubies, and designer watches while one driver was asleep and the other was getting food. Some of the stolen jewelry has been recovered.

NBA referee Tim Donaghy was paid roughly $300K to fix games

Donaghy said he struggled with a gambling addiction, causing him to risk so much. In this interview, he explains the story of his scandal, and how the mob led to his eventual arrest.

Get to know the five families that ran the NYC mafia

In the 1900s, there were five families in New York City who dominated the crime scene. These five families organized expansive criminal operations—ranging from prostitution and price extortion to money laundering—and have inspired stories like "The Godfather."

The US dollar is the most popular note to counterfeit

Counterfeit operations are often controlled by rogue governments, drug cartels, and more. These organized crime rings often sell counterfeit bills wholesale, for anywhere between 40 and 70 cents per dollar.

Drug trafficking in the MENA

The Middle East and North Africa is a major source, transit point, and consumer of illicit drugs. Despite having some of the harshest penalties for drug-related crimes, the region both influences and is negatively impacted by illicit substance abuse...

Al Capone's business structure kept him from ever getting charged for bootlegging.

Prison money diaries: the thriving underground economy behind bars

How people in prison earn money, how much they spend, and the lengths to which they go to secure basic needs and comforts.

The Agent podcast reveals the true story of a long-term KGB agent in America

Narrated through firsthand interviews, The Agent tells how Jack Barsky (born Albrecht Dittrich) spent a decade undercover as a Soviet KGB "illegal" in the US, balancing dual identities in Queens—from insurance programmer to deep-cover spy—until a crisis forced him to choose between loyalty and family.

How tax laws helped the federal government catch mob bosses during Prohibition

The IRS arrested top mob bosses during Prohibition after the Supreme Court ruled illegally-made income could be taxed. The IRS's biggest catch was Al Capone, who was charged with tax evasion and sentenced to 11 years in prison. But Capone wasn't the only bootlegger the IRS nabbed for tax evasion during this era.

Racketeering is broad term for running an illegal scheme

Racketeering itself isn't a single crime and prosecutors tend to think about racketeering as a pattern of criminal activities, including kidnapping and money laundering. The term comes from the Racketeer Influenced and Corrupt Organizations Act, known as RICO.

A Missouri farmer sold $140M worth of fake organic feed

Randy Constant sold nonorganic feed to other farmers, who fed it to their animals, which were then sold as organic meat. The scheme began sometime in the mid-2000s and ended after a tip, likely from one of Constant’s competitors, to the US Department of Agriculture. Constant pleaded guilty and was sentenced to 10 years in prison, but died by suicide before serving time.

Today, in the US, people can face years in prison for counterfeiting money

There are both federal and state laws that punish people who use or create counterfeit money. The crime can not only trigger hefty fines, but could also lead to decades behind bars.

See how DOJ prosecutors took down a pharmaceutical company's executives over the opioid crisis

This FRONTLINE documentary follows federal prosecutors as they used anti-racketeering laws to convict executives at Insys Therapeutics, a pharmaceutical company that bribed doctors to overprescribe a fentanyl painkiller.

A deep dive into the Murdaugh murder saga

Former South Carolina lawyer Alex Murdaugh was sentenced to life in prison for the double murder of his wife and son. In 2024, 40 more years were added to the sentence for theft-related charges. The case gained nationwide coverage and revealed a twisting saga of drugs, deceit, violence, and more. Dive into this 93-episode podcast series with journalist Mandy Matney, who reported on the family for years.