What Does Laundering Mean?
Money Laundering Is the Process of Changing Large Amounts of Money Obtained from Crimes, Such as Drug Trafficking, into Origination from a Legitimate Source...
Money laundering is the process of changing large amounts of money obtained from crimes, such as drug trafficking, into origination from a legitimate source. It is a crime in many jurisdictions with varying definitions. It is a key operation of the underground economy.
What are some examples of money laundering?
- Drug Trafficking. Drug trafficking is a cash-intensive business. ...
- International and Domestic Terrorism. For ideologically motivated terrorist groups, money is a means to an end. ...
- Embezzlement. ...
- Arms Trafficking. ...
- Other Use Cases.
What is money laundering in simple terms?
Money laundering is the illegal process of making large amounts of money generated by a 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.
Marcus Vance is a cybersecurity auditor and technology writer dedicated to educating the public about online safety, data privacy regulations, enterprise security, and emerging cyber threats.
