MoneyLaundering.com.au
Title
Welcome
Description
Excerpted from the website:
- AML stands for anti-money laundering. ‘Money laundering’ arises when a person attempts to conceal the true (criminal) origins of his/her proceeds of crime by laundering (i.e. cleaning) the proceeds. For example, if a person engages in insider dealing and makes a profit from his/her activities (i.e. proceeds of crime) and then tries to conceal or disguise the origin of the monies (i.e. the origin being the crime of insider dealing) to avoid detection, that person becomes a money launderer. The same is true if the person is a drug trafficker and he/she attempts to disguise or conceal the fact that his/her money is derived from drug trafficking. Equally tax evasion and other serious crimes where the perpetrator receives ill-gotten gains may lead to the separate criminal offence of money laundering (in addition to the predatory offence, i.e. insider dealing, drug trafficking, tax evasion etc).
