what are the 3 steps in money laundering?

What is considered money laundering?

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Money laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In United States law, money laundering is the practice of engaging in financial transactions … Read more

What are the 4 elements of money laundering?

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Money laundering involves a series of complex activities aimed at disguising the origins of illegally obtained funds to make them appear legitimate. While there isn’t a fixed set of universally agreed-upon “elements” of money laundering, the process can generally be broken down into three main stages or components, often referred to as the “stages of … Read more