Money laundering is the process of disguising and converting illegal proceeds through complex transaction structures to make them appear legitimate. In banking and financial services, money laundering can often be achieved in the following ways: 1. **Complex transaction structures**: Money launderers may use complex transactions to conceal the source of funds. For example, they can transfer funds through multiple bank accounts and financial institutions in different countries to interfere with the tracking process. 2. **Split and combine**: Large amounts of illegal funds are split into small transactions and transferred through different banks and accounts. This approach can reduce the risk of attracting the attention of banks. In addition, the transferred funds may be reinvested in legitimate businesses to further conceal the source. 3. **Use of trusts and shell companies**: Money launderers can set up trusts or shell companies to hide the true owners of the funds. These businesses can engage in seemingly legitimate business activities while injecting and withdrawing illegal funds to conceal their source. 4. **Fake transactions**: Funds are transferred through fictitious transactions of goods or exchanges of services. For example, fake export or import transactions are conducted to show that the funds are from a legitimate source. These transactions may involve inflated prices or false invoices. 5. **Use of cryptocurrency**: Cryptocurrency is a relatively anonymous financial instrument that money launderers can use to achieve more covert fund transfers, by transferring assets between multiple exchanges, making it more difficult to track. 6. **Offshore accounts**: Using offshore bank accounts, especially accounts in tax havens, can effectively hide the source of funds and owner information, reducing the risk of being tracked by regulators. 7. **Regulatory arbitrage**: Taking advantage of the differences in financial regulation between different countries and regions, choosing places with relatively loose regulation to trade and store funds. Money laundering not only harms the health of the financial system, but also promotes the continuation of criminal activities. Therefore, financial institutions need to implement strong anti-money laundering measures, monitor suspicious activities, and comply with relevant laws and regulations.