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What is Money Laundering?

Money Laundering is the process by which the Proceeds derived from a criminal activity ( i.e. the predicate offense) are disguised in an effort to conceal their illicit origins to legitimize their future use .

Money laundering only attracted interest as a crime in the 1980’s essentially within a drug trafficking context and since then the fight against money laundering has become a global priority as the world has witnessed the devastating effects of these criminal activities on the integrity and functionality of financial systems ,anti corruption efforts, Economic growth and development.

Money laundering can occur in any country whether developed or developing but it can have adverse economic growth and development .