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Question 3. Money laundering has become a night mare in every business. Managers and governments are...

Question 3.

Money laundering has become a night mare in every business. Managers and governments are desperately looking for ways of curbing this vice which has greately affected businesses and government revenue. Explain in detail what your professional is doing to alleviate or reduce occurrences of money laundering activities.

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Answer #1

Money laundering is the act of concealing the transformation of profits from illegal activities and corruptioninto ostensibly "legitimate" assets. The dilemma of illicit activities is accounting for the origin of the proceeds of such activities without raising the suspicion of law enforcement agencies

In a number of legal and regulatory systems, the term "money laundering" has become conflated with other forms of financial and business crime, and is sometimes used more generally to include misuse of the financial system (involving things such as securities, digital currencies, credit cards, and traditional currency), including terrorism financing and evasion of international sanctions

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