WHAT IS MONEY LAUNDERING?

Money Laundering - Overview, How It Works, Example

The conversion or transfer of property knowing that such property is derived from a criminal offense for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such crime to evade the legal consequences of such action.

The concealment or disguising of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property knowing that such property is derived from a criminal offense.

The acquisition, possession or use of property, knowing at the time of receipt that such property was derived from a criminal offense or from participating in such crime.

The participation in, association to commit, the attempt to commit and the aiding, abetting, facilitating and counselling in the commission of such act.