Money Laundering is the practice of transforming illegally obtained funds into legal currency through transactional activities. The process of money laundering encompasses three distinct stages – Placement, Layering, and Integration. During Placement, illicit funds are introduced into the legitimate financial system while simultaneously hiding their origins. Layering or structuring involves employing various transactions and accounting manipulations to obscure the source of the money effectively. This technique breaks down funds into smaller transactions to make detection of laundering activities challenging. In Integration—the final step—laundered money is withdrawn from lawful accounts without leaving any trace behind for criminals’ desired purposes. To combat this persistent problem effectively, AML (Anti-Money Laundering) efforts focus on establishing robust processes, policies, regulations enforcement that necessitate businesses actively monitoring their business partners’ compliance with measures in place. These efforts specifically target practices such as market manipulation tactics employed by unscrupulous actors; illicit trade in contraband goods; tax evasion schemes; bribery incidents; as well as other forms of financial corruption that can be perpetrated under the guise of secrecy.