Laundering Money Definition

Money laundering is the process of concealing illicit sources of money to make it appear like legitimately earned money. The crime of moving money that has been obtained illegally through banks and other businesses to.


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And this process is called money laundering.

Laundering money definition. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. Money laundering is a term used to describe a scheme in which criminals try to disguise the identity original ownership and destination of money that they have obtained through criminal conduct. Money which is evidently the proceeds of a crime is referred to as dirty money and money which has been laundered to appear legitimate is referred to as clean money.

It is a worldwide problem with approximately 300 billion going through the. Money laundering is a process that criminals use in an attempt to hide the illegal source of their income. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds.

Money laundering has been practised for over 6000 years but the term itself comes from the prohibition era of american history. According to Dutch law it is not necessary for all three phases to take place for a money laundering conviction. N The process of hiding the source of illegal income by processing it through a large-turnover entity who takes a premium from it and then receiving the income from that entity to avoid suspicion.

The sale of illegal narcotics accounts for much of this money. Translations for Money-laundering From our Multilingual Translation Dictionary. Money laundering involves breaking up large amounts of cash into smaller transactions changing its form through investments or deposits into bank accounts and moving the money through seemingly legitimate businesses to bring it into mainstream economy.

In a simple way they have to find a way to pay taxes to the government for the dirty money so it can be appear that legally obtained. The legal definition of money laundering in the Netherlands is much broader than the three phases described above. The crime of moving money that has been obtained illegally through banks and other businesses to.

By passing money through complex transfers and transactions or through a series of businesses the money is cleaned of its illegitimate origin and made to. It is a worldwide problem with approximately 300 billion going through the process annually in the United States. By its very nature money laundering is an illegal activity carried out by criminals which occurs outside of the normal range of economic and financial statistics.

The process of taking the proceeds of criminal activity and making them appear legal. Along with some other aspects of underground economic activity rough estimates have been. Although money laundering is usually about money the Dutch term money laundering is broader.

The laundering is done with the intention of making it seem that the proceeds have come from a legitimate source. It preys on peoples vulnerabilities and directly leads to money laundering loansharking and a host of other crimes.


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