Money laundering transforms ill-gotten gains from crimes like drug trafficking into seemingly legitimate funds. Here are some things you should know.
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Money laundering is the process of making money from illegal activities appear legitimate.
2
Layering involves complex financial transactions to hide the source, Integration brings the laundered money back into the legal economy.
3
This dirty money can come from various crimes like drug trafficking, fraud, or terrorism.
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Money laundering can involve techniques like smurfing using shell companies or exploiting cash-intensive businesses.
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Banks and financial institutions have anti-money laundering policies to detect & prevent suspicious activity.
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Money laundering is a worldwide problem, affecting economies and fueling criminal activities.
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Governments and financial institutions are constantly adapting to these new challenges.