Money Laundering is the process of converting the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement, or gambling by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. Through money Laundering, the criminal transforms the monetary proceeds derived from criminal activity into funds with a legal source.
Money Laundering is a serious financial crime that is employed by white-collar and street-level criminals alike. Most financial companies today have anti-money laundering policies in place to detect and prevent this activity.
Marwa Younus
Soggat Academy Kallag
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