Part one of term paper
MONEY LAUNDERING—THE PROCESS AND IT’S AFFECTS Money laundering is a process that many people do not understand. In fact, when I chose money laundering for my report, I thought that I chose counterfeiting. Money laundering and counterfeiting is not the same. Money laundering is the process by which large amounts of illegally obtained mo ...

Part two of term paper
... act but is more a complex operation that is completed in three basic steps. The first step is placement, the second step is layering, and the third step is integration. The first step, placement, is to take the moneys and place them into the financial system, the retail economy, or smuggle them out of the country. The aims of the launderer are to remove the cash from the location of acquisition so as to avoid detection from the authorities and to then transform it into other asset forms; for ...