ABSTRACT
This chapter provides an overview of money laundering and the interplay with cybercriminal activity. It covers the subject of the black markets that increasingly facilitate and enable these crimes. Almost all profit-generating crimes involve money laundering as a means to disguise illicit proceeds and integrate them into the legitimate economy. Organized criminal networks that engage in a range of activities including, but not limited to, drug trafficking, human smuggling, embezzlement, insider trading, bribery, terrorism, illegal gambling, and cybercrime employ money laundering techniques to maintain their highly lucrative operations. Criminals attempt to make the proceeds appear legal by misusing financial institutions and by employing complex methods to mask the origin, movement, and destination of such ill-gotten gains. The USA PATRIOT Act was enacted to prevent and deter terrorist acts and to enhance law enforcement investigatory tools.
