Anti Money Laundering In Relationship To The Banking And Busiiness Sector In Todays Economy - Dissertation Example

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Money laundering can be defined as the process where the monetary proceeds of a criminal activity are integrated into the stream of financial business in a legitimate way so that its origin is never known to anybody. In this process of money laundering illegitimate funds are made to appear as legitimate funds…
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Anti Money Laundering In Relationship To The Banking And Busiiness Sector In Todays Economy
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Download file to see previous pages Money laundering activities are considered to be of prime importance by almost all the nations in the world. In today’s economy all the banks and the financial institutions are subject to the risk of money laundering activities being carried on through the prevailing transaction systems within the organisations. Money laundering is the result of different criminal activities being operated all around the world. This study entails all about money laundering activities carried on globally with special reference to banking institutions and other related business organisations. First of all a brief overview about money laundering has been provided in this study. Next the various effects of money laundering in today’s economy have been discussed in details. The various preventive measures to combat money laundering have also been included in this study. Plenty of initiatives have been taken by different nations all around the world to put a hold on the existing money laundering operations. It has all been discussed in details in this study. Finally how the nations in the world have come forward to combat the threat of money laundering activities have also been discussed in this study....
Introduction Money laundering activities are considered to be of prime importance by almost all the nations in the world. In today’s economy all the banks and the financial institutions are subject to the risk of money laundering activities being carried on through the prevailing transaction systems within the organisations. Money laundering is the result of different criminal activities being operated all around the world. This study entails all about money laundering activities carried on globally with special reference to banking institutions and other related business organisations. First of all a brief overview about money laundering has been provided in this study. Next the various effects of money laundering in today’s economy have been discussed in details. The various preventive measures to combat money laundering have also been included in this study. Plenty of initiatives have been taken by different nations all around the world to put a hold on the existing money laundering operations. It has all been discussed in details in this study. Finally how the nations in the world have come forward to combat the threat of money laundering activities have also been discussed in this study. 2. Money Laundering – An Overview Money laundering can be defined as the process where the monetary proceeds of a criminal activity are integrated into the stream of financial business in a legitimate way so that its origin is never known to anybody. In this process of money laundering illegitimate funds are made to appear as legitimate funds (Odeh, 2010, p.1). The process of money laundering could be explained in any of the following three ways: a. Creating clean money out of dirty money. b. Washing away drug money. c. ...Download file to see next pagesRead More
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