Typologies Report on Cash Transcations and Cash Couriers in West Africa
- Senegal: GIABA, 2007.
- 36p
Money Laundering (ML) is a process whereby the origin and ownership of funds generated by illegal means is concealed. The process of ML usually involves three stages: (1) the introduction of the proceeds of crime into the financial system (placement); (2) transactions to convert or transfer the funds to other locations or financial institutions (layering); and, (3) reintegrating the funds into the legitimate economy as clean money and investing it in various assets or business ventures.
