What is Money Laundering?
Jodie Toporowski
Director
The term ‘money laundering’ describes the process which effectively turns ‘dirty’ money (obtained illegally) into what appears to be money from a legitimate or ‘clean’ source. In this video, Jodie explains what money laundering is and how it is combated.
The term ‘money laundering’ describes the process which effectively turns ‘dirty’ money (obtained illegally) into what appears to be money from a legitimate or ‘clean’ source. In this video, Jodie explains what money laundering is and how it is combated.
What is Money Laundering?
5 mins 4 secs
The United Nations Office on Drugs and Crime estimates the amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars. Due to the nature of money-laundering, it is however difficult to estimate the total amount of money that goes through the laundering cycle. Money Laundering is the criminal act of changing the identity of illegally obtained money so that it appears to have originated from a legitimate source. Money laundering tends to consist of three stages: Placement; Layering; and Integration.
Key learning objectives:
Define money laundering
Be able to explain how criminals launder money
Identify at which stage money laundering is easiest to detect
Jodie Toporowski
Related videos
Global Asset Managers Regulation Introduction
Giles provides a high-level overview of asset management regulation across the world. Specifically, what's on the regulatory agenda and what the current international standards are, including how foreign portfolio management and investment is regulated.
Giles Swan • 18:16