Money Laundering--The Process and Its Affects

Title: Money Laundering--The Process and Its Affects
Category: Literature / English | Words: 363 | Pages: 1.5 (approximately 235 words/page)

Money Laundering--The Process and Its Affects

MONEY LAUNDERING—THE PROCESS AND IT’S AFFECTS Money laundering is a process that many people do not understand. In fact, when I chose money laundering for my report, I thought that I chose counterfeiting. Money laundering and counterfeiting is not the same. Money laundering is the process by which large amounts of illegally obtained money (from drug trafficking, terrorist activity or other serious crime) is given the appearance of having originated from a legitimate …showed first 75 words of 363 total…

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…showed last 75 words of 363 total…at which the money is integrated into the legitimate economic and financial system and is assimilated with all other assets is the system. The launders making it appear to have been legally earned accomplishes integration of the “cleaned” money into the economy. Three popular methods of doing this are the establishment of anonymous companies, the sending of false import-export invoices, and transferring the money from a bank owned by the launders to a legitimate bank.

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