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Money laundering

February 3, 2021

The operation of attempting to disguise a set of fraudulently or criminally ob-
tained funds as legal, in operations undeclared to tax authorities, and therefore

not subjected to taxation. Money laundering activities are strongly pursued by
authorities and in most countries, there are strict rules for credit institutions to
cooperate in the fight against money laundering operations, to declare and report
any transactions that could be considered suspicious.