 |
| What
is money laundering? |
| With
few exceptions, criminals are motivated by one thing-profit.
Greed drives the criminal, and the end result is
that illegally-gained money must be introduced into
the nation's legitimate financial systems. Money
laundering involves disguising financial assets
so they can be used without detection of the illegal
activity that produced them. Through money laundering,
the criminal transforms the monetary proceeds derived
from criminal activity into funds with an apparently
legal source. |
| This
process has devastating social consequences. For
one thing, money laundering provides the fuel for
drug dealers, terrorists, arms dealers, and other
criminals to operate and expand their criminal enterprises. |
| We
know that criminals manipulate financial systems
in the United States and abroad to further a wide
range of illicit activities. Left unchecked, money
laundering can erode the integrity of our nation's
financial institutions. |
|
|
|
