Money Laundering is the process through which certain individuals convert illegal proceeds into legal assets by hiding their true criminal origin. If they succeed, they maintain control of their illegal proceeds and assets and provide a legal cover on the source of their income.
Money Laundering is an international problem which affects all countries. The criminals, in their effort to hide the source of their illegal income, may use banking institutions as well as a number of other professionals who may unknowingly assist them in legalizing their illegal gains.
Therefore, the combat of money laundering activities presupposes the suppression of converting illegal income into legal assets since it renders the criminal activity unattractive.