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Money laundering.(required reading)
Definition
Money laundering is the illegal practice of filtering "dirty" money, or ill-gotten gains, through a series of transactions until the funds are "clean," or appear to be proceeds from legal activities. The United States Criminal Code defines money laundering as "the concealment of the source and/or destination of money, which has usually been gained through illegal activities."
How It Happens
Although money laundering is a complex process, it essentially involves three distinct steps that can occur simultaneously or sequentially. These steps are referred to as placement, layering and integration.
Placement is the initial ...
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