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Long abstract

PREVENTION OF CRIMINAL USE OF THE BANKING SYSTEM(December 1988)

Preamble
1. Banks and other financial institutions may be unwittingly used as intermediaries for the transfer or deposit of funds derived from criminal activity. Criminals and their associates use the financial system to make payments and transfers of funds from one account to another; to hide the source and beneficial ownership of money; and to provide storage for bank-notes through a safedeposit facility. These activities are commonly referred to as money-laundering.
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