View What Is Money Laundering And Why Is It Illegal Pics
View What Is Money Laundering And Why Is It Illegal Pics. The placement stage is when the proceeds of the crime make their initial entry into the financial system. So basically, people want to hide where the money is coming from, because the government puts barriers n place to monitor cash transactions.
Documents Financial Action Task Force Fatf from www.fatf-gafi.org Money laundering is an illegal process that hides the origin of money obtained illegally by going through a complex sequence of bank transfers and commercial transactions. Suppose that one fine day you wake up and decide that you want to rob. The thing about earning a large amount of profit from an illegal activity is that you cannot use it directly, i.e., without first treating it in one way or another, so that it becomes 'clean', or legally acceptable.
The placement stage is when the proceeds of the crime make their initial entry into the financial system.
Money laundering is illegal because it allows criminals to profit from crime, and it usually involves more than one illegal step to take place: Money laundering is the process of converting illegal or illegitimate money (dirty money) into legal or legitimate money (clean money). Almost always illegal, money laundering is popular with. Money laundering is a process which criminals use to make it look like the money they have is legitimately earned.
