Anti-Scam FAQ: What is Money Laundering and why is it used?


Money laundering is the process of disguising the proceeds of crime and making them appear to be legitimate funds. This is often done by moving the money through a series of complex transactions or by using various tactics to conceal the source of the funds. The goal of money laundering is to make it difficult for law enforcement to trace the origins of the money, and to make it appear that the funds are legitimate.

Money laundering is often used by criminals to hide the proceeds of illegal activities such as drug trafficking, fraud, and corruption. By disguising the illicit origins of the money, criminals can access and use the funds without attracting attention from law enforcement. Money laundering also allows criminals to avoid taxes and other legal obligations that they would otherwise have to pay on their illegal income. Overall, money laundering is a way for criminals to profit from their illegal activities while avoiding detection and prosecution.

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