👉 Laundering, also known as "cash laundering," is a complex and illegal process of converting money into another form or asset in order to avoid taxes, regulations, or penalties. This involves hiding assets from law enforcement, transferring them through various channels, such as banks, trusts, and insurance companies, and then using the laundered funds for personal gain or other unlawful activities. Laundering is often carried out by individuals who are unaware of their legal obligations to report any unauthorized transactions they
