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| Money Laundering Money laundering is a three-step process of making illegally obtained funds appear to be legitimate. During the first step, called "placement," funds are deposited into a lawful organization, such as a bank or brokerage house. The second step, known as "layering," involves making numerous transfers of those funds between many accounts and institutions in order to make the initial deposit virtually untraceable. During the final "integration" step, the funds are delivered to their final destination--a legitimate business or a personal account. Presently, the U.S. government uses a filing requirement which placed on the financial industry to report Suspicious Activity Reports. The government investigates a small percent of these reports at the moment. |