Which of the following is the process of converting the proceeds of crime into assets that can be used in the formal economy?

Question

Quizplus · Accepted Answer

Money laundering is the process of making illegally gained proceeds (i.e. "dirty money") appear legal (i.e. "clean"). This is achieved by introducing the illegal funds into the financial system, through various stages of transactions, with the end goal of disguising the origins of the funds and integrating them into the legitimate economy. Placement is the stage where the illegal funds are first introduced into the financial system, layering involves complex financial transactions to disguise the origin of the funds, and integration is the final stage where the laundered funds are reintroduced into the economy as apparently legitimate funds. Therefore, the process of converting the proceeds of crime into assets that can be used in the formal economy is money laundering.

Which of the Following Is the Process of Converting the Proceeds