Obtaining the proceeds of crime has generally been but the first step for profit-motivated criminals. The use of those often has required a second step, whether it be to convert the money into form usable form for licit or illicit purposes, disguise its origins, avoid tax consequences, or make it possible to transport. As the quantity of money to be derived from illegal activity increases, the "laundering" of that money becomes more necessary with the internationalization of commerce, parallel markets, and increased technology. Money laundering has become more sophisticated as a consequence.

The International Financial Action Task Force, convened in 1989 by the G-8 Economic Summit, defines money laundering as "the process by which one conceals the existence, illegal source, or illegal use of the crime proceeds to make those proceeds appear legitimately derived." There are three steps to laundering funds: introducing the proceeds of criminal activity...