Money laundering is the process of concealing or disguising the existence, source, movement, destination, or use of illicitly-derived property or funds to make them appear legitimate.

Money launderers often are sophisticated criminals, who quickly change their modus operandi to cope with stricter anti-money laundering laws/regulations and more focused initiatives by law enforcement and financial institutions.
Money laundering is not just about cash; neither is it a problem isolated to conventional deposit-taking and lending institutions. Money launderers have greatly diversified their operations across financial services sectors.
In 2009, the UNODC (United Nations Office on Drugs and Crime) estimated the total amount of money laundered was $1.6 trillion.