Money Laundering Prevention

Money laundering prevention involves identifying and stopping the illegal process of disguising illegally obtained money as legitimate income. Criminals do this to hide the origins of their funds, making them appear lawful. Financial institutions and authorities implement measures like customer due diligence, monitoring for suspicious transactions, and reporting unusual activity to prevent these illicit funds from entering the economy. Effective prevention helps maintain financial system integrity, combats crime, and ensures transparency and trust in financial operations.