What is money laundering and how shall we look into transactions monitoring? What is str and other reporting?

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Money laundering is the process of making illegally obtained money appear legal. Transactions monitoring is the process of tracking financial transactions to detect suspicious activity.

Money laundering involves three stages: placement, layering, and integration.
Transactions monitoring involves analyzing customer behavior, transaction patterns, and other data to identify potential money laundering activity.
STR (Suspicious Transaction Report) is a report filed by financial institutions to the authorities when they suspect a transaction to be related to money laundering or terrorist financing.
Other reporting includes CTR (Currency Transaction Report) and SAR (Suspicious Activity Report).

What is money laundering and how shall we look into transactions monitoring? What is str and other reporting?

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