Money laundering is process of washing dirty money clean, that is money got from bad sources like kidnapping, drugs, robbery, embezzlement is now made to look like legit money.
Why is money laundering regarded as very bad? I need explanation.
Why is money laundering regarded as bad?
(262 reads) See also â–ş The Azagame Money / Accounting System: The Money Mastery Trick â–ş What is the future of money?
By my own understanding, money laundering is bad due to the wrong/illegal source of the money gotten to be washed clean(going by your own words). The issue goes down to the root/source of the money. Illegal money are usually gained from drugs, emblezzlement, fraud(yahoo commonly) and other crimes which are invested in other legal business. It is the crimes that makes such money dirty. Once the authorities get to know about the source, all assets bought or accounts owned from the dirty money are seized or frozen.
On a second note, money laundering concept is deceptive in nature. This is because a person do use dirty money in legally owned ventures to put a clean front to the public to believe that all monies gotten from such legal business are clean/legal is a blunt form of deception.
On a second note, money laundering concept is deceptive in nature. This is because a person do use dirty money in legally owned ventures to put a clean front to the public to believe that all monies gotten from such legal business are clean/legal is a blunt form of deception.
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Jared
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Perfect points. This is superb.YoungA wrote: ↑November 29th, 2023, 10:58 am By my own understanding, money laundering is bad due to the wrong/illegal source of the money gotten to be washed clean(going by your own words). The issue goes down to the root/source of the money. Illegal money are usually gained from drugs, emblezzlement, fraud(yahoo commonly) and other crimes which are invested in other legal business. It is the crimes that makes such money dirty. Once the authorities get to know about the source, all assets bought or accounts owned from the dirty money are seized or frozen.
On a second note, money laundering concept is deceptive in nature. This is because a person do use dirty money in legally owned ventures to put a clean front to the public to believe that all monies gotten from such legal business are clean/legal is a blunt form of deception.
Hope the OP appreciates this.
Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. đź’°
Thank you sirJared wrote: ↑November 29th, 2023, 11:09 amPerfect points. This is superb.YoungA wrote: ↑November 29th, 2023, 10:58 am By my own understanding, money laundering is bad due to the wrong/illegal source of the money gotten to be washed clean(going by your own words). The issue goes down to the root/source of the money. Illegal money are usually gained from drugs, emblezzlement, fraud(yahoo commonly) and other crimes which are invested in other legal business. It is the crimes that makes such money dirty. Once the authorities get to know about the source, all assets bought or accounts owned from the dirty money are seized or frozen.
On a second note, money laundering concept is deceptive in nature. This is because a person do use dirty money in legally owned ventures to put a clean front to the public to believe that all monies gotten from such legal business are clean/legal is a blunt form of deception.
Hope the OP appreciates this.
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