MONEY LAUNDERING AND INTERNATIONAL REGULATIONS.

Money Laundering and International Regulations

Money Laundering and International Regulations

Introduction

Money laundering includes activities to hide the existence of illegal source of income, or unlawful use and purposely trying to make a profit. Money laundering Scheme comprises three stages: accommodation, layers, and integration ((Joyce 2005)). Under placement, the money is deposited in a financial institution through "before the operation, which provides a pseudo legitimate source for money. Further, the Bundle includes the transmission of illegal proceeds through international wire transfers to different accounts. And finally, the integration is done by restoring funds to the legitimate economic activity. Organized crime ...