22+ What Is Your Money Laundering Background. Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. A common topic on spy shows and mobster movies, money laundering may be an unclear concept for many.
Money Laundering Today S Latest From Al Jazeera from www.aljazeera.com This process has devastating social consequences. Money laundering is a process which criminals use to make it look like the money they have is legitimately earned. As long as money launderers have ways to shift money around the world and keep it secret, the crime of money laundering will remain rampant.
Suppose, for example, that an employee was stealing large sums of cash from her employer without getting caught.
Money laundering is an attempt to reintegrate illegally obtained assets into the legal economic cycle. As an example, money from a fraud case is deposited into a bank account and enters the legal business. Money laundering can be common when it comes to illegal drug trafficking. The literal meaning of the word 'launder' is 'to wash' (and smooth.
