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Explain the stages and ways of money laundering

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Money laundering; It is the process of showing the source of the money obtained from illegal income as regular income. Since the payments received from criminal activities are usually cash, it is impossible to use illegal income freely and quickly. Instead of depositing large amounts of funds in one bank at a time, criminals also deposit small amounts gradually. Funds earned illegally are provided by smugglers to countries where money laundering is not a clime or where laws are not strictly enforced. As a result, this method washes money, and the criminals cover up their crimes. Money laundering is a dangerous crime, and those who commit this crime are subject to large fines and imprisonment.

Explain the stages and ways of money laundering in Inda.

Reference no: EM133114896

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