Money Laundering: What Everyone Should KnowStep 1 of 7
What Money Laundering Is
Where "dirty" money comes from, how criminals try to "clean" it, and why it harms all of us — in plain words, with an everyday example.
Has the money, can't show it
Imagine someone has cheated hundreds of people and collected a large sum. Now they want to buy a flat in Baku or an expensive car. But there's a problem: they can't answer "Where did this money come from?"
The bank will ask, the tax authorities will ask, the notary will ask. So the criminal wants to move the money in a way that makes it look like legal income.
Definition
Money laundering is an attempt to hide the criminal origin of money and pass it off as legal income.