Money Laundering

Abstract

This chapter intends to discuss in detail the complex phenomena of money laundering. This chapter presents the definition, the three stages, characteristics, the negative consequences, and recent trends in money laundering. This chapter demonstrates that money laundering is an international issue by discussing the occurrence of money laundering cases around the globe. This chapter further identifies global efforts to prevent money laundering. This chapter is of value to the layman, government, policymakers, and law enforcement agencies to understand the concept of money laundering. While the chapter presents the basic understanding of the concept of money laundering, the overall finding proves that money laundering is an organized crime. Wherever cash-intensive business exists, there exists the opportunity for money laundering through financial arrangements. Therefore, collaborative domestic and international efforts are needed to combat this crime.