Tue, 29 Nov 2016 13:17:18 +0000 By Buumba Chimbulu Combatting money laundering requires developing very good intelligence and highly coordinated efforts. MONEY laundering is a massive global problem and a single scheme typically involving transferring money through several countries in order to obscure its origins. There are three stages involved in money laundering; placement, layering and integration. Placement is the movement of cash from its source. On this occasion, the source can easily be disguised or misrepresented while layering is to make it more difficult to detect and uncover a laundering activity. This is meant to make the trailing of illegal proceeds difficult for the law enforcement agencies. The integration stage involves the movement of previously laundered money into the economy mainly through the banking system and thus such monies appear to be normal business earnings. Thus, money laundering is the process of taking the earnings from criminal activities such as drug trafficking and tax […]
