Money Laundering Definition

What is money laundering. Along with some other aspects of underground economic activity rough estimates have been.

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It is a worldwide problem with approximately 300 billion going through the.

Money laundering definition. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. Although the definition of money laundering is not stated in the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances Vienna Convention 1988 the concept of money laundering can be inferred from Article 3 of the Convention that defines criminal offenses and the laundering of proceeds of crime. Money laundering - concealing the source of illegally gotten money concealing hiding concealment - the activity of keeping something secret Based.

Money laundering is something some criminals do to hide the money they make from crimes. The laundering is done with the intention of making it seem that the proceeds have come from a legitimate source. The money laundering process can be broken down into three stages.

Criminals do money laundering to make it hard for the police to find out where the criminal got the money. Money laundering is the illegal process of converting money earned from illegal activities into clean money that is money that can be freely used in legitimate business operations and does not have to be concealed from the authorities. Profit-motivated crimes span a variety of illegal activities from drug trafficking and smuggling to fraud extortion and corruption.

The first crime occurs when a criminal secures the funds and the second crime is trying to legitimize the proceeds by misusing financial institutions. Money laundering is the process used to disguise the source of money or assets derived from criminal activity. First the illegal activity that garners the money places it in the launderers hands.

Through money laundering the criminal transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source. Money laundering is the process of concealing illicit sources of money to make it appear like legitimately earned money. The process of taking the proceeds of criminal activity and making them appear legal.

Money laundering is illegal because it is a way for criminals to profit from crime and often involve more than one illegal activity. Money which is evidently the proceeds of a crime is referred to as dirty money and money which has been laundered to appear legitimate is referred to as clean money. Money laundering refers to a financial transaction scheme that aims to conceal the identity source and destination of illicitly-obtained money.

Both the act and origin of money laundering make it illegal. By its very nature money laundering is an illegal activity carried out by criminals which occurs outside of the normal range of economic and financial statistics. Money laundering is a term used to describe a scheme in which criminals try to disguise the identity original ownership and destination of money that they have obtained through criminal conduct.

Money laundering - definition of money laundering by The Free Dictionary. The crime of moving money that has been obtained illegally through banks and other businesses to. Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them.

The crime of moving money that has been obtained illegally through banks and other businesses to.

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