The correct answer is D. All of the above.
Money laundering is the process of making illegally-gained proceeds (i.e. “dirty money”) appear legal (i.e. “clean”). Typically, it involves three steps: placement, layering, and integration.
In the placement stage, the illegal money is introduced into the financial system. This can be done through a variety of methods, such as depositing cash into a bank account, buying assets, or investing in businesses.
In the layering stage, the money is moved around to disguise its origins. This can be done by transferring it between different accounts, businesses, or countries.
In the integration stage, the money is brought back into the legitimate economy. This can be done by investing it in businesses, buying assets, or spending it.
Money laundering is a serious crime that can have a significant impact on the economy. It can also be used to finance terrorism and other criminal activities.
Here is a brief explanation of each option:
- Option A: Process of hiding the origin of the money. This is the first step in money laundering, and it involves introducing the illegal money into the financial system in a way that does not draw attention to its origins.
- Option B: Turning illegal money into legal money. This is the ultimate goal of money laundering, and it is achieved through the layering and integration stages.
- Option C: Bringing illegal money into economy. This is another way of saying that money laundering is the process of making illegal money appear legal.