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What is money laundering?

Even regulators fall into common misconceptions.
What is money laundering?

It is a common misnomer that money laundering “legitimizes the revenues of organized crime” and turns “dirty money into clean” – as anti-money laundering regulators from at least two G20 nations assert.

Policymakers in another G20 country described money laundering as the process by which “money obtained through crime is made legitimate to conceal its criminal origins”.

When regulatory and legislative bodies fall into misconceptions, it is unsurprising that the media repeats them, and they become perceived truths by repetition.

Illicit funds do not become “clean” or “legitimized”, but when criminally acquired money and assets are used in ways that give the appearance of legitimacy, it may become difficult to prove the illicit source.

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