Laundering Money

Laundering Money: Money laundering is a criminal offence that is basically a process wherein large amount of money earned from criminal activities like drug trafficking etc is shown to be earned from a legitimate source.

Money laundering is a very serious offence as it involves legitimising money earned from criminal deals and provides major support to national and international organized crime units. As most of the criminal deals and transactions are processed in hard cash, the money launderer’s job is to convert this cash into more liquidated sum which becomes hard to trace originally and also will be easy to invest into something legal and legitimate.

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With ever evolving and globalizing world economies, the problem of money laundering is on an ever increasing high. With upcoming technologies, national and international borders pose no hurdle in this organized financial crime. Further, many of the high end professionals like lawyers, Accountants and bankers are providing their assistance to the corrupt for a small share of this illegal fortune that is being made. Being indirectly involved, they act as facilitators and nurturers and help in perpetrating this crime.

Edited and Updated 08th March 2014

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