What are the basics of Money Laundering?
Money laundering is a complex process used to disguise the origins of illegally obtained money, typically by passing it through a complex sequence of commercial transactions. The basics of money laundering can be broken down into three key stages:
⦁ Placement: This is the initial stage where the illicit funds are introduced into the financial system.
⦁ Layering: During this stage, the goal is to obscure the original source of the illicit funds.
⦁ Integration: At this point, the funds appear legitimate and are integrated back with the criminals for use without raising suspicion
Refer to this informative article to learn more about the complexities of money laundering to safeguard you business