Money laundering: The unexpected trillion-dollar industry

Money laundering is the act of concealing an illicit source of income. By passing money through complex transfers and transactions the money is “cleaned” of its illegitimate origin and made to appear as legitimate business profits. Of all the types of financial crime, money laundering is by far the largest by value. Globally, each year, trillions of illicit gains are washed by organised crime. The people who facilitate such schemes are smart and adaptive. In this session Mark Thomas will examine a case study that has been compiled by global media reports and you will learn the basics of money laundering and the requirements to prevent and how to report upon these activities.