Money Laundering is the process of making large amounts of money generated by criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean. Money laundering occurs when criminals try to hide their ill-gotten gains by moving it across international borders into another country, and then using banks, investment dealers and recruitment agents to create an account that looks like a legitimate one.In simplest terms, money laundering is the process of making large amounts of money generated by criminal activity appear to have come from a legitimate source. It’s illegal and sometimes provides criminals with cash that is not traceable. The money from the criminal activity is considered dirty and therefore has to be “laundersed” to make it look clean.Money laundering is the process of making large amounts of dirty money, obtained by criminal activities such as drug trafficking or terrorist funding, appear to have been obtained from a legitimate source. The process "launders" the money, hiding it from banks and making it clean again. The goal of money laundering is to disguise the source and nature of the funds so that they can be utilized for legitimate business or investment purposes.
