Money Laundering: A Review

Abstract

Money laundering is a major global issue, influencing the economy of pretty much every nation including India. This term has become a buzzword nowadays. Money laundering is an illegal process of concealing the origin of the money which is obtained from unlawful activities, but this is converted and is shown to be obtained from a legitimate source. Understanding the concept of money laundering and its nature is essential to combat it. There are different types and methods that money launderers use to disguise their illicit funds. This illegal activity has the simple purpose of converting black money to white money. This is done through activities like drug trafficking, corruption, or gambling. The real estate sector as a target, is the largest, most vulnerable, and easiest sector for money laundering. To deal with this worldwide issue, countries from everywhere implemented laws and regulations and are coming up with newer techniques.