What is money laundering?

 Money laundering is the process of manipulating illegally sourced founds to make them look as if they were obtained in a regular way. This process is composed of three steps. Placement,  where illegitimate money is converted into assets that seem to be legitimate. Layering, where a large number of transactions occurs useing the illegal money to make it harder to link with the original source. And lastly integration, where the now "clean" money comes back to the criminal from a seemingly legitimate source. There are a number of ways criminals do this. Placement usually consists of transfering the money into a bank account without raising any alarm, layering is commonly done by purchasing tradeble property, making transfers to multiple accounts or by rigging a casino, finally integration often takes the form of some fake business. Now days money laundering is constantly taking place without us even noticeing it. Money laundering is commonly used among criminals, large corporations and even known politicians.

 

Source: https://www.youtube.com/watch?v=257wV-AbKaE

Komentarze

  1. englishdiary22 marca 2022 11:34

    Slot machines are a perfect business to launder money - nobody can control where the cash people put into them comes from.

    OdpowiedzUsuń

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