Background – Money laundering and terrorist financing

Money laundering is an activity that tries to make money obtained through criminal activity seem legitimate.

• The origin of the money is illegal.

• An attempt is made to circulate the money through a legal payment system.

• The purpose is to obliterate the true nature, origin or owners of the funds.

Terrorist financing means raising or collecting funds for a terrorist purpose.

• The origin of the funds might be legal or illegal.

• Money is raised or collected for a terrorist crime.

• Financing or attempting to finance a terrorist group is also punishable.