The process by which criminals convert tainted proceeds into apparently legitimate funds or property is known as

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22-08-2022
Law

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The process by which criminals convert tainted proceeds into apparently legitimate funds or property is known as

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Tundexi Tundexi · Answer 1 · 2022-08-24T16:21:49+02:00

A money laundering means the process by which criminals convert tainted proceeds into apparently legitimate funds or property.

What is a money laundering?

It refers to the criminal practice of possessing an ill-gotten gains or dirty money through a series of transactions so that the gains appear to be proceeds from legal activities.

Through the means of money laundering, the criminals attempt to transform the proceeds from their crimes into funds of an apparently legal origin.

Therefore, it is the process by which criminals convert tainted proceeds into apparently legitimate funds or property.