Abstract
9 THE UNITED NATIONS DEFINES money laundering as “any act or attempt to act to disguise the source of money or assets derived from criminal activity.” Essentially, money laundering is the process whereby “dirty money” produced through criminal activity is transformed into “clean money,” that is, money where it is difficult or impossible to trace the criminal origin. As dirty money is constantly being introduced into the financial system, money is constantly being laundered. There are three recognized stages in the money laundering process:
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