What is money laundering?

Question

What is money laundering?

Answer 1

willie is quite a fxxxxx

Answer 2

As the name suggest, it is to wash the money. Illegal money gained from drugs, underground gambling, smuggling are dirty money.

If you cannot account for the money, as in how you earned them. Government would suspect you of illegal activities.

So, to make them legal -you launder them. The easiest is through legal gambling, i.e. cruise ship.

You change the chips with illegal money, then gamble abit. Us e the same amount of chips and change back legal money.

When being check, all you need to do is highlight that you "won" the money from the cruise ship...

Answer 3

taking money gained illegally.

spending, investing elsewhere to hide the money

Answer 4

Money laundering is widely spread around the world, the money gain illegally from drug, loan sharking and other illegal means is consider money laundering, on the other hand the recently case involving NKF chairman and his wife, moving out his monies from disposing his asset before the court declare him a bankrupt is also considering money laundering when he transfer into his  wife account in Hongkong