Money laundering Flashcards

1
Q

1st stage of money laundering

A

Placement, depositing illegal funds in financial institutions

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2
Q

2nd stage of money laundering

A

Layering, converting proceeds of crime into another form involving complex transactions and often involves many layers making audit trail more difficult

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3
Q

3rd stage of money laundering

A

Integration, placing the laundered funds back into legitimate economy

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