Modern Money Laundering: Evolving Beyond the Classic Three Stages

Kenneth Hines argues that the traditional “three-stage” model of money laundering (placement → layering → integration) is too simplistic in today’s financial landscape. Where once illicit funds moved in a neat sequence, modern laundering is far more fluid — criminals can employ a variety of “building blocks,” in any order, to maximize complexity, opacity, and anonymity.

https://www.acfcs.org/acfcs-contributor-report-kenneth-hines-modern-money-laundering