TED-ED: How does money laundering work? - Delena D. Spann

The video discusses Al Capone's involvement in organized crime and how he was only convicted of tax evasion due to hidden illegal earnings. It explains the origins of money laundering, a practice as old as money itself, and how it has evolved with modern technologies. The video outlines the three basic steps of money laundering: placement, layering, and integration. It also covers the legal recognition of money laundering as a crime in 1986 and its global impact, including concerns about privacy and government surveillance. The video concludes with the ongoing fight against money laundering by international organizations.

How did the legal recognition of money laundering as a federal crime in the United States change the prosecution of criminal operations?

Discuss the role of various organizations in combating money laundering today.