2

Question 1

Stages of Money laundering

Answer 1

placement begins with the collection or generation of proceeds derived from criminal activities.
then
proceeds are moved into the financial system.
then
proceeds are layered
Involves activities to conceal the origin of the dirty money such as transferring money from bank account to a holding company.
-could also be paying a company to pay a false invoice & making a private loan to another company.
Finally,
Proceeds are then integrated and used to purchase goods and services in the legit economy.
( don’t have to be in the exact order)
Two steps can occur simultaneously

Question 2

Objective of money Laundering ?

Answer 2

Clean the money by making it appear legitimate