What is Money Laundering?

Discussion in 'Growing and Managing a Business' started by sriz, Aug 22, 2013.

  1. sriz

    sriz
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    Have someone known this word laundering. Money Laundering refers to the money that is achieved through illegitimate source and is used for various illegal activities. Money Laundering has bitter consequences upon one society, community or a country. The financial funds achieved through illegitimate source are mainly used to support terrorist activities.
     
  2. DalfinaAlex

    DalfinaAlex
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    You are right. We can also say that, Money laundering is the procedure by which large amounts of illegally obtained money is given the appearance of having originated from a valid source.
     
  3. sjzllc00

    sjzllc00
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    it is very simple. For example, in china, a officer he got big money through corruption.
    He will not save this money in china banks. Bcoz he will worry the govement will search him oneday.
    How to hide this money?
    He can buy a big house from abroad through the third party or save this money to foreign banks.
     

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