subject: Money Laundering Has Evolved To One Of The Worst Threats In The Finance Industry [print this page] The malicious concept of Money laundering is the process of changing the large amounts of money obtained from the crimes like the drug trafficking into the origination from a much legitimate source. In other words, it is the amount that is particularly obtained through the illegal activities but also looks like it is obtained from the legal sources. This is because otherwise this money cannot be used. The purpose of the money laundering operation is usually to hide either the source or the destination of money.
The Money-laundering is a process through which the criminals prove the slush funds to legal funds. In the law of Lexicon, the term money laundering is being particularly referred to as the transfer of the money from illegal sources into the legitimate channels so that its original source cannot be rightly traced. Apart from the other traditional activities of the drugs, kidnapping, procuring women, gambling, smuggling of alcohol, tobacco, medicines, armed robbery, counterfeiting and bogus invoicing, tax evasion and misappropriation of public funds, new markets are also flowering. At some places, it is the malpractice of engaging the financial transactions to hide the destination of illegally gained money and at some places the act is particularly defined as taking any action with asset of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that the property is the proceeds of a crime or obscure the beneficial ownership of the said property. The money laundering lawyers London take care of these cases and provide legal solutions to such crimes.
The Money laundering involves the bankers, lawyers, car dealers, real estate builders, the accountants and also others being involved in the case. In short everyone who allows its business to be used by someone to launder the proceeds of a crime. The biggest organizations that have been particularly active in this process can be found in the hubs of the capitalism: the United States (Cosa Nostra), Europe (the Sicilian Mafia) and Asia (the Chinese Lriads and Japanese Yakusas).
The process of the Money laundering usually involves the multiple or a series of transactions to disguise the source of the financial assets. So that these assets are used without the compromising of the criminals who are seeking to use the funds. These transactions fall into three major stages. Firstly the Placement which means the money is being inserted into the financial system through the transfers or the unlawful proceeds into the financial institutions. Second is the Layering. This separates the money from their origin by moving them though a series of financial transactions. This makes it harder to establish a connection between the original and the destination source. Lastly is the Integration which is the process of creating a legal explanation for the source of funds to acquire the goods or assets. The anti-money laundering lawyers London takes care and solves all these critical cases.
by: Steve Mich
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