What is money Laundering

Question

Accepted Answer

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.

Money laundering involves three main stages: placement, layering, and integration.
Placement is the initial stage where the illegal funds are introduced into the financial system.
Layering involves moving the funds around to make it difficult to trace their origin.
Integration is the final stage where the funds are reintroduced into the economy as clean money.
Examples of money laundering activities include structuring deposits to avoid reporting requirements, using shell companies to hide the true source of funds, and investing in high-value assets to legitimize the money.

Accepted Answer

Money Laundering is process of making money attained from illegitimate source appear legitimate

What is money Laundering

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