text Senegal GIABA 2007 monographic 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. Money laundering, Terrorism http://iffoadatabase.trustafrica.org/iff/107_typologies-report-november-2007.pdf http://iffoadatabase.trustafrica.org/iff/107_typologies-report-november-2007.pdf