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Tax Engineering

What is money laundering?


Question

What is money laundering? Is it legal?

Answer

No, it is not legal. Money laundering is the process of hiding the real origins of money earned from illegal activities such as drug trafficking, arms smuggling, political corruption, tax evasion, crimes, prostitution, public embezzlement, extortion and terrorism converting it to legal money earned by seemingly lawful companies. Money laundering is a criminal activity in all countries of the world and is very persecuted by laws.



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