How To Stop Money Laundering ?
| Money laundering is the process of converting dirty money, that is money which arises from illegal means such as drug trafficking or prostitution or tax evasion, or even from highly placed members in large corporations diverting money to their personal accounts, into clean money by using a number of different methods, the most common of which is by using banks, insurance companies and other financial institutions, or by setting up businesses and companies and pump the money there instead.More... |
Examples Of Money Laundering
 Money laundering is the process of taking illegally obtained, or “dirty” money and finding ways and means to make it legitimate or clean. Since such dirty money cannot be spent, it is necessary to launder or whitewash that money before you can make any use of it, like invest it, or put it in a bank etc. While money laundering has usually been the department of large criminal organizations, there are several examples of money laundering involving individuals as wellMore...
The Effects Of Money Laundering
 The effects of money laundering have not really been studied in great depth, and most of the effects on the country's economy especially are unknown. The most obvious effects of money laundering, however, are on financial institutions, which become a tool used to carry out these procedures to whitewash money, and these effects can be proven to be a direct result of money laundering as well.Most money laundering operations are carried out using legitimate banks, insurance companies etc.
What Are The Objectives For Laundering Money ?
 Money laundering is the process of making illegally obtained money appear legal. Basically the process is used by criminals to hide their criminal activities like drug trafficking, illegal arms dealing, terrorism and extortion. The criminals do not want the authorities to know from where the money has originated so they use money laundering as a means of making it appear that the funds originated from a legal and legitimate source.More...
Explain The Strategy To Combat Money Laundering
The United States has an aggressive program to tackle money laundering. Although it is difficult to quantify the effectiveness of the program, there are indications that it is having an impact. Today, it has become more difficult to move ill-gotten money and slowly money laundering organizations are trying to move to other channels to transfer money.More...
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