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Financial Crimes
The term “financial crimes” applies to a range of offenses that includes fraud and money laundering. Fraud has been and continues to be the fundamental crime related to commercial activities. It involves gaining a benefit through means of deception. Money laundering, on the other hand, is not a traditional crime. The term identifies a set of prohibitions and/or regulations created to track and seize the proceeds from other crimes, notably drug-trafficking. Although regulatory in nature and related to other crimes, “money-laundering” carries its own criminal penalties, as well as civil and criminal forfeiture remedies.
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