Series 26: Money Laundering Defined

Taken from our Series 26 Online Guide

Money Laundering Defined

Money laundering is the process of transforming illegally gained funds into seemingly legitimate funds. It is commonly achieved in three steps.

1. Placement is the depositing of funds in financial institutions or the conversion of cash into negotiable instruments such as cashier’s checks and money orders. Cash may be routed through “front” operations like a check-cashing service or jewelry stor

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