Money Laundering (Introduction and Causes)
Money-laundering- Introduction and causes Mahatma Gandhi said: “Capital as such is not evil; it is its wrong use that is evil. Capital in some form or another will always be needed.” The primary function of money is to serve as a medium of exchange, and as such it is accepted without question in final discharge of debts or payment of goods or services. Money is the root cause of many evils like corruption, black marketing, smuggling, drug trafficking, tax evasion, and the buck does not stop here it goes to the extent of sex tourism and human trafficking (a human selling another human in the era of human rights). The more developed the nation, the more the standard of living of the people. People want more money to cater to their needs and at a point of time they don’t hesitate to have money from any source (black or white who cares). This is the available soft corner where the concept of money laundering enters and prospers. Money Laundering refers to the conversion or “Launderin...