Finally an international organisation recognises that Money laundering is more than a linear process of Placement, Layering & Integration – as shown below Transparency international provided the following definition

• The process of concealing the origin, ownership or destination of illegally or dishonestly obtained money [AKA the proceeds of crime (POC)- ED] by hiding it within legitimate economic activities [EG financial firms products and services – ED] to make them [POC] appear legal