What is 'Money Laundering'

 'Money Laundering' is a process of generating money from criminal activities or otherwise and making them appear legal. You may say it as conversion of Black money into white money.

   

Source:http://fiwebelize.com/belize-in-money-laundering-scheme-originating-from-argentina/ In fact, 'Money Laundering' is the process to show money obtained through illegal source as legitimate source. Usually it is raised from criminal activity, drug trafficking, terrorist activity or other serious crimes. 'Money Laundering' includes any type of predicate crime ranging from tax evasion and forgery, to drug- and people-trafficking. 'Money Laundering' As per Wikipedia,

Money laundering is the process of concealing sources of money. Money evidently gained through crime is "dirty" money, and money that has been "laundered" to appear as if it came from a legitimate source is "clean" money. Money can be laundered by many methods, which vary in complexity and sophistication.

'Money Laundering' As per Investopedia

Definition of 'Money Laundering

'The process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source.

Investopedia explains 'Money Laundering'

Some estimate the size of the problem is over $500 billion annually. Often thought of as a victimless crime, money laundering is a very serious issue. Without it, international organized crime would not be able to function.