- Money laundering is a term used to describe the techniques, procedures or processes used to convert illegal funds obtained from criminal activities into other assets in such a way as to conceal their true origin so that it appears the money has come from a legitimate or lawful source.
- In the U.S., money laundering involves the proceeds from many illicit activities, not just drug trafficking
Some Examples of Activities in the U.S. from which the proceeds are laundered:
- Smuggling
- Foreign Official Corruption
- Embezzlement
- Securities Fraud
- Wire and Mail Fraud
- Bribery
- Illegal Gambling
- Racketeering
- Arson
- Insurance Fraud