notes for cs Meaning of Money Laundering

Posted on 05-05-2016        By ADMIN

 notes for cs Meaning  of Money Laundering 

         “ MoneyLaundering ” - is the processing of criminal proceeds - to disguise its illegalorigin. In other words, - “ money laundering - is the converting of taintedmoney into untainted money ”.

      Criminalactivities such as - terrorism, illegal arms sale, financial crimes, smuggling,drug trafficking, embezzlement, bribery, computer fraud etc.- produce largeprofits for criminal gangs and groups.

         Such criminalgroups convert this money into legal money - by disguising the sources -changing the form or moving the funds to other places, where they are lesslikely to attract attention.

                     Hence, money laundering is intricatelylinked to various criminal activities.

                     Therefore, it can be said that moneylaundering enables criminal activity to continue.

Comment :