Definition

Money Laundering Definition

Money laundering refers to the illegal process of concealing the origins of illegally obtained money, typically derived from criminal activities, by making it appear as if it came from legitimate sources. This process involves a series of transactions and manipulations that aim to obscure the audit trail of the illicit funds, making it difficult for law enforcement agencies to trace and identify the true source of the money. The primary objective of money laundering is to legitimize the illicit funds, allowing criminals to integrate them into the legal economy without arousing suspicion. Money laundering enables criminals to enjoy the proceeds of their illegal activities and undermines the integrity of the financial system.

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