Money laundering is as old as acquisitive offending itself. In its broadest sense is the process by which ill-gotten gains can be safely enjoyed. Crime does not pay if its fruits cannot be converted into legitimate financial instruments and spent.
This simple proposition should have led to similarly simple anti-money laundering legislation. Exactly the opposite has happened, and of the many reasons for this, three particularly stand out.
Money-laundering as a legal concept has been stretched beyond its natural parameters. The potential for abuse is plain.