Is to see if the account has legalized illegal income. Mainly refers to the illegal income and its income, through various means to cover up and conceal its source and nature, so as to legalize it in form. The proceeds from drug crimes, organized crimes of underworld nature, crimes of terrorist activities, crimes of smuggling, crimes of corruption and bribery, crimes of disrupting financial management order, and financial fraud, as well as their proceeds, are concealed and concealed by financial institutions by various means.

Simply put, money laundering refers to "the process of hiding, disguising or investing illegal income through legal activities or structures".

Extended data:

Money laundering also includes:

1, laundering legal funds into illegal money, that is, laundering money, such as smuggling by using bank loans through money laundering;

2. Wash a legal fund into another seemingly legal fund to achieve the purpose of embezzlement, that is, wash money, such as transferring state-owned assets to personal accounts through money laundering;

3. Legal income escapes supervision through money laundering, such as foreign-funded enterprises transferring legal income abroad through money laundering.

Money laundering process:

The process of money laundering is usually divided into three stages, namely, disposal stage, cultivation stage and integration stage.

Disposal stage: refers to the process of putting the proceeds of crime into the cleaning system, which is the most easily detected stage.

Cultivation stage: that is, through complex multi-layer financial transactions, illegal gains are separated from the source and dispersed to the maximum extent to hide clues and identities.

Integration stage: vividly described as "spin-drying", even if the violation becomes legal, it also provides a superficial legal cover for the finance of criminal proceeds. After the proceeds of crime are put on a legal coat, they can freely enjoy these dirty proceeds and use the cleaned money together.

Impact of money laundering:

Money laundering is a serious economic crime, which not only undermines the principle of fairness and justice in economic activities, orderly competition in market economy, the reputation and normal operation of financial institutions, but also threatens the security and stability of the financial system. In addition, money laundering is linked to serious criminal crimes such as drug trafficking, smuggling, terrorist activities, corruption and tax evasion, which poses a serious threat to a country's political stability, social stability, economic security and the security of the international political and economic system.

Baidu encyclopedia-money laundering