One of the crimes that has been the blight of the financial crime departments of countries all over the world is money laundering. With the arrival of the internet came many helpful new ideas, but unfortunately with that also came new things for criminals to exploit. Electronic money laundering is just one of many types of cybercrime and the ability to be a faceless person on the internet is what gives criminals the opportunity to be able to come up with ways to do illegal activities including money laundering.
Money laundering is how criminal organisations make money that has been collected from activities that are not legal to appear legit. Human trafficking and drug dealing are just two crimes that can lead to money laundering. As well as this, new forms of online currencies known as crypto currencies are very popular with money launderers.
Because of these new criminal activities, newer ways of tackling them have also had to be implemented. Cyber security is a huge part of policing now around the world, and there are also processes in place that help to prevent money laundering going on. AML ID verification like this www.w2globaldata.com/an-idiots-guide-to-aml-kyc-id-verification/ is one of the things that are put in place to tackle money laundering. Being asked to provide forms of identification in order to invest funds in something means that people are known and traceable if there is anything suspicious, which puts criminals off doing things this way.