Money laundering is the procedure of transforming the gains of crime and corruption into ostensibly “legitimate” assets. In several legal and regulatory systems, however, the word money laundering is becoming conflated with other kinds of financial and business crime, and may also be used more generally to add misuse of the economic climate (involving things such as securities, digital currencies, bank cards, and traditional currency), including terrorism financing and evasion of international sanctions. Most anti-money laundering laws openly conflate money laundering (which can be involved with way to obtain funds) with terrorism financing (which can be involved with destination of funds) when regulating the economic climate.
Some countries define money laundering as obfuscating resources of money, either intentionally or by merely using financial systems or services that not identify or track sources or destinations. Other countries define money laundering so concerning include money from activity that could have been a crime for the reason that country, even if the experience was legal where in fact the actual conduct occurred.
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