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Money laundering
Infiltration of illegally acquired assets into the legal financial system. Generally, a distinction is made between three phases of laundering:
(1) Feeding money of criminal origin into the financial system.
(2) Masking the origin of funds by frequently transferring and converting.
(3) Reintegrating the funds into the legal economy. See also money laundering law.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Banking
- Category: Investment banking
- Company: UBS
- Product:
- Acronym-Abbreviation:
Other Languages:
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