What is money laundering?
the process in which black and illigle money is converted to legal money is known as money loundering.
concealing the source of illegally gotten money
Converting illegitimate money into a legitimate usage
how is this done??
Converting black money in whie
Fraud of money
Transferring black money as white money.
Money from unknown source or earned illegally is transformed into legal money
Hi Sri.. I was asked the same question in IDBI asst manager interview and I gave the same answer as u mentioned.. Don't know whether it is right or wrong.
process by which black money is transferred into white money(normal usage)