Cameron manages an illegal gambling operation in his BBQ Bar & Grill.Cameron reports the profits of the gambling operation as income from BBQ's legitimate activities on its tax returns.This is

Question

Quizplus · Accepted Answer

Money laundering involves disguising the proceeds of illegal activities as legitimate income or assets. By reporting the profits of the illegal gambling operation as income from the legitimate BBQ business on tax returns, Cameron is attempting to conceal the true source of the funds. This is an example of money laundering.

Cameron Manages an Illegal Gambling Operation in His BBQ Bar