Money laundering is the process of creating the appearance that large amounts of money obtained from criminal activity, such as drug trafficking or terrorist activity, originated from a legitimate source. The money from the illicit activity is considered dirty, and the process “launders” the money to make it look clean.
In simple words, it can be defined as the act of making money that comes from one source to look like it comes from another source.
The term “money laundering” originated from the Mafia group in the United States of America. Mafia groups have made huge amounts of extortion, gambling, etc. and this money is shown as legal money. In India, “money laundering” is popularly known as Hawala transactions.
- Issues of Money Laundering
- Working of Money Laundering
- Evolving threats of Money laundering
- Impacts of globalization on money laundering
- Way forward
- Cryptocurrency and Money Laundering
- Measures taken National level to tackle Money Laundering
- Measures taken International level to tackle Money Laundering
- Efforts to Tackle Black Money
