Money Laundering

Money laundering is the practice of disguising the proceeds of criminal activity as legitimate funds. This is often done by transferring the money through a series of complex transactions, or by using it to purchase assets such as real estate or art, in order to make it difficult to trace the money back to its illegal origins. Money laundering is a global problem, and it can have serious consequences, including the funding of terrorist activities, the corruption of public officials, and the destabilization of financial markets. Governments around the world have implemented laws and regulations to combat money laundering, and international organizations such as the Financial Action Task Force (FATF) work to promote cooperation and information sharing among countries in their efforts to prevent and detect money laundering.