Money laundering may occur in every country. The significant factor is to diagnose the illegal money laundering activity and apply regulations to mitigate MLAs. To meet this objective, managers of financial institutions need to train their employees about anti-money laundering processes and how to diagnose money laundering. Anti-money laundering activities can also affect the financial systems of a country. "Money laundering destabilizes the foundation of a nation's financial system by reducing tax revenues and impeding fair competition by ultimately disrupting economic development" (World...