What is money laundering - Everything about money laundering processes and forms

What is money laundering?

Money laundering is the act of organizations and individuals to legalize the origin of assets obtained through crime. According to Clause 1, Article 3 of the Law on Prevention and Combat of Money Laundering 2012.

Money laundering is often carried out through the following tricks:

• Split assets: Divide assets into smaller pieces to make it difficult to detect.
• Change form of assets: Convert assets from one form to another, for example cash into gold, land, stocks,...
• Create fake invoices and documents to legalize the origin of assets.
• Invest in legal business activities: Invest in legal business activities to hide the origin of assets.

Quyen is a creative copywriter with a passion for fintech. a degree from the Ho Chi Minh University of Economics. After graduating from the UEH (Ho Chi Minh Economics of University), she's constantly expanding her knowledge through investment and financial literacy courses, seminars, and conferences. Quyen also has experience in banking and credit. Her articles draw on her background in finance to help readers make informed decisions.