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Money Laundering

1

Money laundering is the process of transforming the profits of crime and corruption into ostensibly "legitimate" assets.

What is money laundering? - MoneyWeek Investment Tutorial by MoneyWeek

2

In a number of legal and regulatory systems, however, the term money laundering has become conflated with other forms of financial and business crime, and is sometimes used more generally to include misuse of the financial system, including terrorism financing and evasion of international sanctions.

Terrorism financing refers to activities that provides financing or financial support to individual terrorists or terrorist groups.

International sanctions are actions taken by countries against others for political reasons, either unilaterally or multilaterally.

Banks, Cartels and Money Laundering by Stuff They Don't Want You To Know - HowStuffWorks

3

Most anti-money laundering laws openly conflate money laundering with terrorism financing when regulating the financial system.

4

Some countries define money laundering as obfuscating sources of money, either intentionally or by merely using financial systems or services that do not identify or track sources or destinations.

5

Other countries define money laundering to include money from activity that would have been a crime in that country, even if it was legal where the actual conduct occurred.

6

There has been some criticism of anti-money laundering laws with some commentators saying that this broad brush of applying money laundering to incidental, extraterritorial, or simply privacy-seeking behaviors is like a financial thoughtcrime.

A thoughtcrime is an Orwellian neologism used to describe an illegal thought.

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