The laundering process is accomplished in three stages, which may comprise numerous transactions by the
launderers that financial institution/company to criminal activity…
In an increasingly interconnected financial system, financial and non-financial institutions can easily be used to launder money or finance terrorism. This can undermine confidence in the system and weaken it.
There are modern developments that have a massive capacity to do good (particularly from a financial inclusion standpoint) but also have the capacity to be misused for criminal activity.