What is Money Laundering?
Money Laundering is an act or series or combination of acts whereby the proceeds from unlawful activity or predicate crime/offense, whether in cash, property or other assets, (“dirty” money) are converted, concealed or disguised (laundered) to make them appear to have originated from lawful sources (“legal” money). One way of laundering money is through the non-financial system, such as casinos.
Effects of Money Laundering
Allows criminals to preserve and enjoy the proceeds of their crimes, thus providing them with the incentives and the means to continue their illegal activities.
Provides criminals the opportunity to appear in public like legitimate entrepreneurs.
Provides criminals the capacity to destabilize governments and undermine their financial systems.
Threatens national security.
What is Financing of Terrorist Crime?
FINANCING OF TERRORIST CRIME is the financing of terrorist acts, and of terrorists and terrorist organizations.
Fundamentals of Money Laundering.mp4