Rakesh Garhwal

Money laundering is the process of concealing the source of money obtained by illegal means such as embezzlement, insider trading, bribery, drug trafficking or terrorist activity. The process of converting ‘illegal or unclean money’ into ‘legal or clean money’ is referred to as money laundering. Money laundering is a grave financial crime that is usually employed by white collar and street level criminals. Most financial companies have anti-money laundering (AML) policies in place to detect and prevent these activity. Money laundering is a very important step in the success of drug trafficking and terrorist activities. Most people who financially support terrorist organizations do not provide the funds directly to terrorist groups. They send the money in roundabout ways that allow them to fund terrorism by maintaining anonymity. The process of money laundering usually involves three steps 1) placement 2) layering, and 3) integration. In the first step "dirty money“ is put into the...