In a constant endeavour to spread awareness

Dear friends with an intent to share as much awareness on the subject of money laundering. I have created a course on the same and hosted for your review. The course has 3 modules and a quiz that will help you check you own understanding.

Please click here to login as a guest please

While this is to benefit larger audience i request my dear friends from the 'trade' to post in their valuable feedback and suggestions on how i may improve it.

I hope you will enjoy this bit. Will look forward to your comments.

Money Laundering ?

Money Laundering refers to the conversion or "Laundering" of money which is illegally obtained, so as to make it appear to originate from a legitimate source. Money Laundering is being employed by launderers worldwide to conceal criminal activity associated with it 

If money laundering is prevalent in a country, it generates more crime and corruption. It also enhances the use of bribery in critical gateways to make money laundering efforts successful, such as:

•         Employees and management of financial institutions,

•         Lawyers and accountants,

•         Legislatures,

•         Enforcement agencies,

•         Supervisory authorities,

•         Police authorities,

•         Prosecutors, and

•         Courts

The initial concern over money laundering began with its early connection to illegal trafficking in narcotic drugs. The objective of drug traffickers was to convert typically small denominations of currency into legal bank accounts, financial instruments, or other assets. Today, ill-gotten gains are produced by a vast range of criminal activities—among them political corruption, illegal sales of weapons, and illicit trafficking in and exploitation of human beings. Regardless of the crime, money launderers resort to placement, layering, and integration in the process of turning illicit proceeds into apparently legal monies or goods.

Money Laundering seems to have past us long ago and stands as one of the gravest threats to the economies globally. With this blog i seek the support of all aware and vigilant members of the society to join me to spread a much required awareness on the subject and keep posting your views and thoughts on this blog

Anti - Money Laundering

Welcome to my blog..

As my professional assignment i have chosen to create a generic course on Money Laundering for beginners to the trade of insurance.  In this course i intend to utilize the already available open resources to touch upon the basic concepts. To start her is a brief introduction to the concept:

Money Laundering is the process of moving illegally acquired cash through financial systems to make it appear legally acquired. It involves processing of dirty money in order to disguise its illegal origin. Dirty money is proceeds derived from criminal conduct. Criminals want the money to look like it came from a legitimate source. Money Laundering is commonly done by criminals, like smugglers and drug dealers, to avoid attention from the law on the illegal sources of their income.

Money Laundering helps criminals to enjoy their illegally earned wealth. Criminals utilise various means to launder money; banks, exchange dealers, finance companies, investment companies, casinos, precious metal dealers, and auction houses.

Here is for you a video from you tube that touches upon how the process of Money Laundering actually works.