Laundering of illicit money and its effect on banking sector

Laundering of illicit money means that to implicating the money to economy what is gained from illegal activities. Understanding the laundering of illicit money methodologies and their effects on banking sector is the purpose of this study. The literature review and questionnaire application methodologies have been used. 400 bank employees have been attended to the questionnaire. According to the results, with the increasing of controlling systems in the sector; the laundering of illicit money level decreases. The results also showed that the resources of black money are mainly the terror applications and illegal drug trade. The results gained by the answers and this is the limitedness of the survey.