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Prevention of Money Laundering

One of the biggest crimes that governments all around the world are trying to tackle is money laundering. This is when criminals take part in the process of making money from illegal activities appear legitimate and if it has been earned from a legal way of doing so.

There are many ways that criminals do this, and it is something that police and crime prevention agencies have to always be aware of and keep up with as criminals are often coming up with new ways to be able to do this. The internet was one of the inventions that money launderers took advantage of, and lots of crime agencies have had to improve cyber security in order to try and prevent this from going on.

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There are also lots of legal processes which have been introduced – banks and other investments are often the target of money launderers, so there are lots of requirements put in place to reduce the risk of this happening. AML ID verification like this https://www.w2globaldata.com/an-idiots-guide-to-aml-kyc-id-verification is something that banks use to make sure that the people who are wanting to open a bank account are who they say they are.

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The prevention of money laundering is something that all countries need to be involved in. Because many criminals have networks which span across many countries, agencies in different countries work together to stop large criminal organisations from being able to launder money.

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