KYC360º FAQ
Why is money laundering illegal?
The objective of the criminalisation of money laundering is to take the profit out of crime. The rationale for the creation of the offence is that it is immoral for persons to assist criminals to benefit from the proceeds of their criminal activity.
Other Questions in the Anti-Money Laundering category
- What is Money Laundering?
- How is the offence of money laundering committed?
- Are all crimes capable of predicating money laundering?
- Can Fiscal Offences such as tax evasion predicate Money Laundering?
- Is money laundering a serious offence?
- What is the Risk Based Approach?
- What is the origin of the Risk Based Approach?
- What is Country Risk?
- What is a PEP?
- What risk do PEP’s pose to my business?
