In order to avoid detection, criminals often retain the proceeds of their crimes in cash or use bearer negotiable instruments in connection with their money laundering activities. As part of global regulatory measures designed to minimise risks of money laundering and financing of terrorism, financial institutions and other designated businesses in most countries are required...

Worldwide concerns over the extent of money laundering, coupled with evidence that major terrorist activities have been facilitated by money laundering techniques, have significantly increased the level of knowledge and interest in the subject. Understanding money laundering demands analysis of the size of the problem and its impacts on society. This paper reports on recent...