Illegal financial flows: economic and legal aspect

Money laundering is a historically established method of hidden source of illegally acquired assets. This may be the case with money received from trade, prostitution, corruption, tax evasion and other things. The term “laundering” refers to the idea of cleaning up the profits obtained as a result of illegal activities. This term originated in the 20s of the twentieth century in the USA, when a network of laundries was used to receive money for services provided. The problem of money laundering is considered relevant in the modern world, since it is a criminal activity that undermines financial stability and damages the economy. One of the key ways is mandatory verification of customers and establishing their identity. Methods for controlling the legalization of income are a necessary basis for combating criminal activity.