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Jan 15, 2012 · Another definition: 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.
This PowerPoint presentation can be adapted to suit the training requirements of your practice. Anti-money laundering: PowerPoint example (updated June 2021) Download POWERPOINT 1.17MB.
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Feb 9, 2017 · Prevention of money laundering act, 2002 (PMLA) It is an act to prevent Money Laundering and to provide for confiscation of property derived from, or involved in, money laundering and to punish those who commit the offence of money laundering. WHO CAN INVESTIGATE A CASE OF MONEY LAUNDERING ?
Mar 22, 2019 · • The three stages of Money Laundering: • Placement: The introduction of the funds into the financial system; • Layering: Movement of the funds to distance them from the original source; • Integration: Funds re-enter the legitimate economy and are used to purchase goods or services, finance other illegal activity or are otherwise spent.
Money Laundering refers to a financial transaction or scheme that aims to conceal the identity, source and destination of illicitly obtained money.
This book explores some of the complexities prompted by the application of the definition of money laundering to practical situations encountered in Africa. It exposes the inaccuracy of the term ‘money laundering’ as a description of what may be concealed or converted.
