Money Laundering is the basic term which is used to describe money earned by money launderers through illegal activities like drug trafficking, currency smuggling or terrorist funding, it is also regarded as dirty money and the launders try to cover up their tracks by making it look like it is from a legitimate source. The government does not take any tax on this money because it is not shown in bookkeeping.
It is hard to track down the source of money laundering since it is derived from a series of banking transfers and commercial frauds. The maximum number of money is laundered through financial institutions and then the criminals use a wide range of techniques to conceal the criminal nature of it.
Stages of money laundering are Read More
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