Did you catch our poll on Tuesday?
We asked what the final stage of money laundering is. 73% of you correctly identified that it’s integration ✔️
So, what is money laundering? 💷
Money Laundering offences relate to the use of proceeds of crime including the process through which ill-gotten profits are converted into assets that appear legitimate.
The three stages of money laundering are:
1st stage – Placement: introducing illicit funds into the financial system.
2nd stage – Layering: concealing the source of the money through complex financial transactions.
3rd stage – Integration: reintroducing the laundered money into the economy as seemingly legitimate funds.
While the SFO’s main focus is investigating significant fraud and bribery offences rather than solely the secondary act of moving illicit funds, money laundering remains an important part of our work.
We have investigated major money laundering schemes involving millions of pounds across international borders. See Read More