MONEY 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 ....

Number Of Pages: 2

Number Of Words: 374

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