Srinagar, Sept. 17 -- Money laundering is no longer just an economic crime; it has become a significant financial backbone for organized crime, corruption, drug trafficking, terrorism, and illegal trade. Simply put, money laundering is the process by which criminal proceeds are presented as legitimate or legally obtained, concealing their true source. Criminals understand that simply earning money illegally is not enough; it is also necessary to incorporate that money into a system that makes it difficult to trace its true origin. This is why the challenge of money laundering in the modern financial system is becoming increasingly complex. The process of money laundering is generally understood to have three major stages-placement, layeri...