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    Thread: What is money laundering and how does it damage a nation's economy?

    1. #51
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      Default Re: What is money laundering and how does it damage a nation's economy?

      Money laudering is an anti people attitude that is capable of making the country look impoverished when it has so much resources. The truth is that there are many people that are into government because all they they want is to steal money that does not belong to them, many times, these money that are stolen are used for establishing of personal universities and companies which they will use for their own purposes, this resource is meant for the general public that are paying their taxes on a regular basis, anything that makes the people that are into money laudering to succeed means that people will suffer for it.


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    3. #52
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      Default Re: What is money laundering and how does it damage a nation's economy?

      Money laundering is a financial crime that is capable of putting the country into financial crisis, there is nothing good about it, unfortunately the people that engaged in this crime have enough money to bribe the judges to free them or give them a sentence that makes it look encouraging to other people who have this intention to go ahead with their plans.

      Money laundering is evil and very inimical to the overall country and it citizens, the country that has a rampant money laundering cases don't always do well, they might even have crude oil and the benefits of this will never be seen by those that are around them. Those who go into this crime have back up plans some where in case they are caught.


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    5. #53
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      Default Re: What is money laundering and how does it damage a nation's economy?

      Money laundering, it is refer to something done in secret in replacement of profits from illegal operation and corruption into surface legitimate assets. There is large in amount of time and effort may be set into planning which allow a way out in the safe apply of those carry on a series of acts without an increase unwanted suspicion and In a performance of legal and regulatory structure, the restriction of money laundering has arise as commingle with other financial and business crime and is sometimes include unlawful use of financial system involving things such as securities,digital currencies, credit cards, and including terrorism provides funds and charge of international sanctions and money laundering has begin another terribleness threatening the growth of the economy such that influence the governance and economic development. money laundering is a thing being reflect on a country budget in fight against terrorism and foreign relations between Nigeria and other nations and this could be see as a data in the analysis of different outcome of a cause such as manufacturing of domestic products, socio-economic, political effects, oil and gas sector.


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    7. #54
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      Default Re: What is money laundering and how does it damage a nation's economy?

      Money laundering is a term used to describe the process by which criminals disguise the proceeds of crime and integrates it into the legitimate financial system. It is also the process by which large amount of illegally obtained money, mainly from drug trafficking and terrorism, are given the appearance or being utilized as if its origin is from the legitimate source. Money laundering has an adverse impact on the economy, polity, and stability of a nation. It plays a fundamental role in facilitating the ambitions of the drug dealer, the terrorist, the tax evader, as well as many others who need to avoid the attention from the authorities that sudden wealth brings from illegal activities. Money laundering constitutes a serious threat to national economies and respective governments, especially developing nations and largely affects the financial sector, institutions, and banking sector. Thus, one can safely conclude that money laundering is a global problem that must attract global concerns.


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    10. #55
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      Default Re: What is money laundering and how does it damage a nation's economy?

      Money laundering is an act of illegally conveying money from one destination to another, the destination could be between localities, states, regions or countries as the case may be. The money laundering is often practiced by bad fellas, it is actually for purchasing of illegal weapons, funding terrorism, aiding corruptions, helping illicit act of drug dealers and sex slaves.

      With these aforementioned points, one can denote that money laundering will not help any country to move forward, it will affect the country's image, and that could cause set back in the economy of that country, because less countries might be willing to deal with them. Also, when two much money is leaving the border of a country, shortage of liquidity will arise in the country, and that does not spell good for any country's economy.


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