Question

Money Laundering is most accurately described as:

a: The use of funds illegally obtained from a fraudulent mortgage lending transaction
b: Paying for financial goods and services with the use of funds deposited in an offshore banking account
c: The use of funds illegally procured as a result of identity theft
d: Filtering money through a series of transactions in order to prevent the tracing of the funds to their original illegal source

Answer 1

Money laundering is the process of filtering illegally obtained funds through a series of transactions to hide their original source. It involves disguising the origins and ownership of funds and making them appear legitimate.

Step-by-step explanation:

Money laundering is most accurately described as the process of filtering money through a series of transactions in order to prevent the tracing of the funds to their original illegal source. It involves disguising the origins and ownership of funds obtained illegally and making them appear to be legitimate. Examples of money laundering include using shell companies, offshore accounts, and complex financial transactions to hide the illicit source of funds.