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Money Laundering
Money Laundering is the process through which anyone attempts to conceal and distribute the money they make Illegally.
It appears legal by passing them through a complex sequence of banking transfers or commercial transactions. Governments and financial institutions implement measures to detect and prevent money laundering, aiming to maintain the integrity of the financial system and combat illicit activities.
Learning point: Avoid accepting transfers from an account you don’t know the owner
Terrorism Financing
It is a means and method used by terrorist organizations to finance their activities
In other words, it involves providing funds or financial support to individuals or groups engaged in terrorist activities. This support can come from various sources, such as donations, legitimate businesses ets. Governments and international organizations work together to implement measures to identify, track, and prevent the flow of funds to terrorist organizations, aiming to disrupt their activities and enhance global security.
If caught in any of these, it can result to a 25 years sentence
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