Transfer of funds and washing of “Dirty” Money

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Money laundering is the process of converting cash and gained through illicit activities so as to use it legitimately and openly without drawing any attention of the authorities. The aim here is to “clean” what would otherwise be considered “dirty” money. Broadly the aim of laundering systems is,

• Converting proceeds of crime to a less suspicious form
• Concealing the illegal ownership or origin of the criminal earnings
• Creating a legitimate explanation for the source of assets