====== Money Laundering ======
[[dido:public:ra:xapend:xapend.a_glossary:start| Return to Glossary ]]

**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 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 ]]


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