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Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source, and/or destination of money, and is a main operation of the underground economy.
In the past, the term "money laundering" was applied only to financial related to organized crime. Today its is often expanded by (such as the United States Office of the of the Currency) to encompass any financial which generates an asset or a value as the result of an illegal act, which may involve actions such as tax evasion or false . As a result, the illegal activity of money laundering is now recognized as practiced by , small and large , corrupt officials, members of organized crime (such as drug dealers or the Mafia) or of cults, and even corrupt states, through a complex network of shell companies and trusts based in offshore tax havens.
The of financial crime, the increasing recognized value of so-called "financial " (FININT) in combating crime and terrorism, and the impact of capital extracted from the economy has led to an increased of money laundering in political, economic, and legal debate.
Read more in the Wikipedia entry for Money laundering
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