finance

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Money laundering is the term for any process that “cleans” illegally obtained funds of their “dirty” criminal origins, allowing them to be used within the legal economy. And the practice is about as old as money itself. But how does it actually work? Delena D. Spann describes the ins and outs of money laundering.

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Banks are a riddle wrapped up in an enigma. We all kind of know that they do stuff with money we don’t understand, while the last crisis left a feeling of deep mistrust and confusion. Why were banks invented, how did they cause the last crisis, and are there alternatives? Kurzgesagt — In a Nutshell sheds light onto the banking system.