What are the consequences of money laundering?
The consequences of money laundering include the following:
• threatening the integrity of the financial system of a country
• Damaging the international reputation of a country and hampering its ability to get credit and investments
• Sabotaging the prospects of the legitimate private sector
• Policymakers lose control of their economic policy and developmental agenda resulting in instability
• Loss of revenue to the exchequer
• Encouragement of criminal activities
Check out this article to learn more about the socio-economic impact of money laundering: Socio-economic impact of money laundering - AML UAE #1 Best