Dirty Money! What is Money Laundering?

The video tutorial explains money laundering, a process used by criminals to disguise the origins of illegally obtained money, making it appear legitimate. It highlights the significance of money laundering in various sectors, defines the process, and discusses the reasons criminals engage in it, such as tax evasion and hiding funds from authorities. The tutorial also covers the methods used and the potential consequences, including the risk of money being traced back to the crime or seized by authorities.

What sectors are significantly affected by money laundering?

• Transportation and Tourism

• Banking, Financial, and Real Estate

• Technology and Agriculture

• Healthcare and Education

What is the primary purpose of money laundering?

• To increase the value of money

• To convert currency into gold

• To make illegal money appear legitimate

• To evade paying taxes

Why do criminals need to hide the origins of their money?

• To avoid paying high interest rates

• To donate to charity

• To prevent authorities from tracing it back to crimes

• To invest in foreign markets

What is one of the challenges criminals face when spending large amounts of cash?

• Converting it into digital currency

• Finding a reliable currency exchange

• Avoiding attention and suspicion

• Getting a high return on investment

What can happen to money that is not laundered?

• It can be seized by authorities

• It can be donated to non-profits

• It can be invested in stocks

• It can be used for legal business