Money Laundering Across The Globe


 

Money laundering is a financial crime that involves the conversion of money attained from performing criminal activities to money attained from a legitimate source. Money earned from criminal activities such as human trafficking, terrorism, etc. is infamously known as “dirty money”. The process of cleaning this “dirty money” is called money laundering.

Basically, the process of money laundering consists of three steps, the first one being placement which ensures that the dirty money is being placed at a legitimate financial institution, the second one being layering which deals with concealing the sources from which the money is generated and the third one being integration which includes withdrawing money from the legitimate account for further use.

 

Check out the full article @  Money Laundering Across The Globe

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