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What is money laundering?   


Peter Clark
@Peter.Clark · Posted 19 Jan. 2022


Jack Penn
@Jack.Penn · Posted 19 Jan. 2022

Money laundering is the process of taking the proceeds of crime and making them appear legal. Criminals want to launder their money because it gives them better access to their funds, allowing them to invest in more criminal enterprises. This also allows them to avoid detection by law enforcement, which often operates on a small budget and can’t afford to monitor all of the transactions taking place in the economy. Money laundering is the process of turning the profits of crime into “clean” money that can be used without raising suspicions. Criminals use money laundering schemes to disguise the true source of their income, making it appear as if they earned their money through legitimate means, such as a job or investments. The primary goal of money laundering is to conceal the criminal source of money. The methods used in money laundering vary depending on the circumstances and the goals of the criminals.


Frank Lucas 
@Frank.Lucas · Posted 19 Jan. 2022

Money laundering is the process of taking the proceeds of various criminal activities and making them appear as if they are the proceeds of legitimate business activities. The purpose of money laundering is to disguise the illegal source of money so that it can be used without raising suspicion. In legal terms, money laundering is the crime of altering the appearance of money or other assets to disguise the illegal nature or origin. The purpose of money laundering is to conceal the original ownership and background of money so that it will appear to have been earned through legitimate means. The original owner of the money will often distance themselves from the process, leaving their money in the hands of someone else. The money is often moved through a series of bank accounts, to disguise where it came from.


Alfred Evans
@Alfred.Evans · Posted 19 Jan. 2022

Money laundering is the process of transforming the proceeds of crime and turning them into “clean money”. The process usually involves transferring money from criminal activity, such as drug trafficking, into the financial system, where it can be used to buy property, pay for services, or be invested. The aim is to hide the illicit origins of the money so that authorities can’t detect the crime. The money can be in any form, including cash, banknotes, digital currency, or even gold.


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