What is Money Laundering?

Ah, money laundering - the financial world's equivalent of a magician's sleight of hand, minus the charm and plus a whole lot of legal trouble. For those of you who've been living under a rock (or perhaps in a Swiss bank vault), money laundering is the art of making dirty money look clean enough to pass through the financial system without raising eyebrows. It's like giving your ill-gotten gains a spa day, complete with a deep cleanse, exfoliation, and a fancy new outfit.

Now, before you get any bright ideas, let's be clear: money laundering is not a DIY project for the aspiring criminal mastermind. It's a complex process that involves three main steps: placement, layering, and integration. Think of it as a three-act play, where the protagonist is a stack of cash with a shady past, desperately trying to blend in with its law-abiding currency cousins. The goal? To make that money look so squeaky clean that even the most eagle-eyed compliance officer would struggle to spot its criminal origins.