money laundering

Money laundering is the process by which criminals hide, move and invest the "benefits" they receive from criminal conduct with the aim that, in their hands, it appears to have originated by lawful means.

"Benefits" is much wider than "money," which might be taken as cash and coin. It includes anything that can be used to store or transfer value, including any and all classes of assets and goods. It can even include services.

In brief: money laundering is where a person takes steps to break the audit trail between assets or expenditure and any criminal conduct that resulted in the means to pay for those things.

For a full explanation of money laundering, see "Money Laundering and Terrorist Financing Foundation Course."

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