60.1k views
3 votes
What money laundering means?

User Rishiag
by
8.2k points

1 Answer

5 votes

Answer:

The definition of money laundering is "to conceal the origins of illegally obtaining money".

Step-by-step explanation:

Most of the time the way in which the money is concealed is by stating it was a foreign bank transfer/business or that they recieved [earned] the money through legitimate ways.

So they basically obtain money illegally and hide/lie where they got it from.

User Vidhyanand
by
7.9k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories