dido:public:ra:xapend:xapend.a_glossary:m:money_laundering
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dido:public:ra:xapend:xapend.a_glossary:m:money_laundering [2022/03/31 17:59] nick |
dido:public:ra:xapend:xapend.a_glossary:m:money_laundering [2022/03/31 18:50] (current) nick |
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| **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. The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean. | **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. The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean. | ||
| - | Money laundering is a serious financial crime that is employed by white-collar and street-level criminals alike. Most financial companies have [[dido:public:ra:xapend:xapend.a_glossary:a:aml]] policies in place to detect and prevent this activity. | + | Money Laundering is a serious financial crime that is employed by white-collar and street-level criminals alike. Most financial companies have [[dido:public:ra:xapend:xapend.a_glossary:a:aml]] policies in place to detect and prevent this activity. |
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| + | Money Laundering can be divided into three steps(( | ||
| + | Will Kenton, | ||
| + | Investopedia, | ||
| + | __Anti Money Laundering (AML)__, | ||
| + | 16 March 2022, | ||
| + | Accessed: 31 March 2022, | ||
| + | [[https://www.investopedia.com/terms/a/aml.asp]] | ||
| + | )): | ||
| + | |||
| + | - Deposit of illicit funds into the financial system | ||
| + | - Transactions designed to conceal the illicit origin of the funds, known as "layering" | ||
| + | - Use of laundered funds to acquire real estate, financial instruments or commercial investments | ||
| + | |||
| + | There are two categories of Money Laundering: | ||
| + | |||
| + | * [[dido:public:ra:xapend:xapend.a_glossary:d:domestic_laund]] | ||
| + | * [[dido:public:ra:xapend:xapend.a_glossary:i:internat_laund]] | ||
| Source: [[https://www.investopedia.com/terms/m/moneylaundering.asp ]] | Source: [[https://www.investopedia.com/terms/m/moneylaundering.asp ]] | ||
dido/public/ra/xapend/xapend.a_glossary/m/money_laundering.1648763941.txt.gz · Last modified: 2022/03/31 17:59 by nick
