Money laundering is a type of criminal act that had risen recently. With the advancement in information technology, criminal perpetrators nowadays are choosing complex type of transaction to hide their illegal activities. The increasing number of money laundering cases worldwide had become the world concern.
Money laundering started with simple and typical money laundering scheme as illustrated follows:
Dirty money collected from any illegal activity will be placed in any institution and at the same time few layering process will take place. This layering process is done to ensure the money placed is legalized through few complex layering transaction. Lastly, the dirty money will transform into clean money and integrated back to the owner. This scheme enable money launderer to legalized dirty money and ensure their criminal activity remain undetected.
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