Top 5 FAQs in money laundering

Top 5 FAQs in money laundering!
Top 5 FAQs in money laundering!

Anti-money laundering: Did you know that 22.0% of money laundering offences in the US in 2020 involved loss amounts greater than $1.5 million. Global financial crime fines handed out in 2021 totalled $9.95bn, down from 2020’s record breaking figure of $22.86bn, according to a report by AML Intelligence. Corruption, bribery, and fraud accounted for a whopping 69.6% of FinCrime fines handed out in 2021

What is money laundering & why is it considered illegal?

Money laundering is the process of taking illegally obtained and often large sums of money and making it appear as it though it has come from legitimate sources. The money, often referred to as ‘dirty money’, is often generated through proceeds of crime such as drug trafficking and is ‘laundered’ to make it look clean.

It is illegal because it enables criminals to profit from crime and usually requires a number of illegal steps to take place. This includes attempts to conceal or disguise the nature, location, source, ownership, or control of the proceeds of crime. While the source of the money is what makes money laundering illegal, the act of laundering money is also illegal.

What are the examples?

  • Drug Trafficking. Drug trafficking is a cash-intensive business. …
  • International and Domestic Terrorism. For ideologically motivated terrorist groups, money is a means to an end. …
  • Embezzlement. …
  • Arms Trafficking. …
  • Other Use Cases.

What is considered as money laundering?

The money from the criminal activity is considered dirty, and the process “launders” it to make it look clean.

What is the most common way to launder money?

  • Offshore accounts;
  • Anonymous shell accounts;
  • Money mules; and.
  • Unregulated financial services.

If you have any questions that are not covered here, please get in touch. Or check out our AML insights section HERE!

At ABAC®, we can provide you with training and certification for ISO 37002 Whistleblower Management System, ISO 37000 Governance of Organisations, ISO 37001 Anti-Bribery Management Systems (ABMS)ISO 37301 Compliance Management System, ISO 37000 Governance of Organisations, and ISO 31000 Risk Management – GuidelinesABAC® works with clients of all industries, sizes and organisation types to develop robust programs using the latest techniques and best practices that help foster an ethical business culture.


Soraia Antunes, Chief Marketing Officer (CRI® Group and ABAC® Center of Excellence) Soraia is a technically and commercially astute professional with over ten years’ success accelerating brand growth and enhancing customer loyalty via high impact marketing and communication strategies combined with engaging visual identities. She is passionate about creative excellence and driving innovation while influencing key stakeholders. Feel free to reach out.

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