Money Laundering--The Process
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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 ....
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.... country. The aims of the launderer are to remove the cash from the location of acquisition so as to avoid detection from the authorities and to then transform it into other asset forms; for example: travelers checks, postal orders, etc.
The second step, layering, is the first attempt to conceal or disguise the source of the ownership of the funds by creating complex layers of financial transactions designed to disguise the audit trail and provide anonymity. The purpose of layering is to di ....
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Word count: 362
Page count: 2 (approximately 250 words per page)
