Money Laundering The Process
Money Laundering--The ProcessMONEY 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 source. Money laundering is a complex operation that affects everyone. The purpose of this paper is to explain the money laundering process and how it affects society.
Money laundering is not a single act but is more a complex operation that is completed in three basic steps. The first step is placement, the second step is layering, and the third step is integration.
The first step, placement, is to take the moneys and place them into the financial system, the retail economy, or smuggle them out of the country. The aims of the launderer are to remove the cash from the location of acquisition...
To view the complete essay, you be registered.