What is it called when money is illegal?

It's called illicit money or dirty money, typically earned through illegal activities like drug trafficking or fraud.

What are the three types of money laundering?

Smurfing (structuring small deposits) Trade-based laundering (faking invoices) Shell companies (hiding ownership and transactions)

Smurfing (structuring small deposits) Trade-based laundering (faking invoices) Shell companies (hiding ownership and transactions)

The HSBC scandal (2012) is a major example, where the bank allowed drug cartels to launder billions through its accounts.

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