In the recent years, the term Money Laundering is being unanimously used all over the globe. In a very general sense, Money laundering is the process by which criminals create the illusion that the money they are spending is actually theirs to spend. In technical terms, Conduct / acts designed in whole or in part to conceal or disguise the nature, location, source, ownership or control of money (can be currency or equivalents, e.g. checks, electronic transfers, etc.) to avoid a transaction reporting requirement under state or federal law or to disguise the fact that the money was acquired by illegal means is called money Laundering. That is to say that Money laundering infact can be described as any activity that aims to disguise or hide the nature or source of, or entitlement to, money or property derived from criminal activities.

Over a period of thousands of years, people have used money-laundering techniques to move money resulting from crime - but also often to hide and move it out of reach of governments - including oppressive regimes and despotic leaders.