00:00 Money laundering is typically associated with drug dealers who use cash and need to "wash" their money to avoid detection by the tax system.

03:35 Money laundering is not just done by drug dealers, but also by terrorists, big money launders, and white-collar individuals who come across a substantial amount of money that they don't want to pay taxes on, and the majority of the cash being laundered is in U.S. dollars due to its status as the de facto international currency and the strict banking transparency laws in the U.S.

07:02 Money laundering involves three phases: 1) keeping deposits below $10,000 in a day, 2) layering the money through various transactions to make it hard to trace, and 3) integrating the money back into the mainstream economy through legitimate transactions.

10:38 Money laundering can be done through various methods, such as using a Peso broker in Colombia to convert dirty money into clean Colombian pesos through the purchase of American-made goods on the black market, or by breaking up large amounts of money into smaller, less suspicious amounts and depositing them into multiple banks.

14:01 Underground alternative banking, such as the Hawala system in Pakistan and India and the Fai Chen system in China, is a trust-based system with no paper trail that is popular in Asia and can be used for money laundering.

17:37 Money laundering can have negative effects on local economies, such as driving small businesses out of business and not paying taxes, while also impacting whole financial sectors and economies of small countries.

20:54 Franklin Gerardo, a crooked economist, laundered drug money for a Colombian drug kingpin by placing it in Colombian banks and making wire transfers and deposits to 100 different accounts in 68 banks across nine European countries, ultimately managing to launder $36 million before getting caught.

24:40 Operation Juno, a successful DEA sting operation, led to the arrest of Colombian drug traffickers involved in money laundering, although the hosts have mixed feelings about sting operations.

27:48 The hosts receive a listener mail from someone with epilepsy who experiences Deja Vu as a seizure, and they express their gratitude for the email and wish the listener luck with their condition.