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What is money laundering?

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Question added by Samer Khatib , Economics Moderator , Bayt.com
Date Posted: 2016/09/26
Karen Mae Pioquinto
by Karen Mae Pioquinto , Analyst-Market and Payment Operations , The Royal Bank of Scotland PLC

Money Laundering is the process of transforming dirty money into clean money by means of crime and corruption.

Tomasz L
by Tomasz L , Reporting Specialist , Outworking

I agree with previous answers. I can only add this is the main reason for the existence of tax havens.

Wail Zayid
by Wail Zayid , Facilities Supervisor , Shade Corporation

thank you for the invitation.

the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses.

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