Posts

Showing posts from June, 2015

FATF: FINANCIAL ACTION TASK FORCE

FATF is formed in 1989 to foster international crimes against money laundering. FATF has given 40 recommendations for money laundering and 9 for terrorist financing.

WHAT IS MONEY LAUNDERING

Money laundering means conversion of black money into white money. The exact definition refers Money Laundering involves disguising the original source of income which is derived from illegal activities to make it as legal through the help of financial institution's.