Disguising the money trail by transferring the money into the bank account of phone companies and creating false invoices and enterprises using offshore banks and wire transfers is referred to as ______.

Question

Quizplus · Accepted Answer

Layering is the process in money laundering where the origin of the money is obscured through a series of transactions and bookkeeping tricks. This can involve transferring money into the accounts of legitimate businesses (like phone companies) and creating false invoices or using offshore banks and wire transfers to hide the money's origin.

Disguising the Money Trail by Transferring the Money into the Bank