Money Laundering: Social and Economic Effects

The process of money laundering involves obtaining large amounts of money through illegitimate sources and making it appear like it was acquired through legal sources. The illegitimate sources include drug trade, trafficking or terrorist activities. The money launders obtain cash unlawfully and take steps to make dirty money appear clean, to avoid detection and imprisonment. Criminals need to launder money so that they could use it for illegal purposes. This…

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