Money laundering is a method used to make money obtained illegally appear to originate from legitimate sources (Madinger, 2016). The process is termed as “laundering” since money from the illicit activities is considered as “dirty.” The most commonly used strategies of laundering money include utilizing legitimate cash-based businesses, shell companies,...
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Criminals use money laundering as a means of evading detection and punishment. The main goal is to keep themselves and the proceeds of their criminal activity out of the hands of tax and law enforcement officials. Criminals have had an edge on this front for a long time. They have...
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Money Laundering: Concealing the Origins of Illicit FundsMoney laundering is a process that allows criminals to disguise the origin of money they've received through criminal activity, so that it can be used in legal ways. This method is often used to conceal the proceeds of criminal activities like drug trafficking,...
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