Of many other criminal phenomena of present world, money laundering, we can say is most talked-about or the commercial form of crime related to money and assets. We can imagine how common is this crime has become when we find many unusual and exceptional personalities being involved in such cases and becoming the highlights of the news. For complete understanding and information we need to know what actually money laundering is.
What Money Laundering Refers To?
Money laundering as the name indicates is a generic process followed by criminals to disguise the origin, ownership, source and nature of the money generated by criminal activities by transferring it into legitimate channels and platforms. One can not claim to check the type of crime from which the money has been earned when it comes to laundering that money. Both the parties have a separate extent of offence and separate charges for their action. The commonly heard sources of illegal money is corruption, tax evasion, fraud, illegal drug sales etc.
Illegalization of Money Laundering
Money laundering has been recognized as an illegal and immoral activity on an international level. The illegalization of this act refers to prevent the crimes related to money and its illegal transfer to different channels. Otherwise, this act becomes an assistance for the criminals to take maximum benefit out of the crime without being noticed. This can further proceed to make such criminal groups strong and to provide them with financial services with an ease.
Money Laundering From Islamic Perspective
Being a part of the Islamic faith and a true believer of Islamic jurisprudence, one should be aware of all its legalizations and prohibitions regarding different sources of income and involvement in such kind of activities that take them towards the unlawful results (what is referred as Haram in Quran).
“And do not eat up each other’s property by false means, nor approach the authorities with it to eat up a portion of the property of the people sinfully, while you know” (Surah 2: 188)
The conception of money laundering in Islam has been addressed 1400 years ago as a contemporary crime and a clear guidance can be taken from Quran and Sunna regarding this act.
Prophet Muhammad explains:
“Any activity built from Souht, will be casted into Fire” (Saleh and Saleh, 2006).
“Souht” in the above hadith refers to the unlawful trade or money generated from illegal ways. Isn’t it enough to explain the unlawfulness of money laundering with respect to Islam? Lets compare the money generated from an unlawful activity and the money that has been generated from a criminal activity that needs to be laundered. Don’t you find the similarity and cohesion in both the cases where illegalization of money laundering and its condition of being haram in Islam justifies? There definitely is!
There are some specific provisions regarding prohibition of the ill-gotten money. These provisions include money sourced from theft, organized crime, monopoly, bribery, usury, prostitution and gambling. It is quite clear from the Islamic law that money laundering is prohibited in any case and falls in the category of Haram source of income as prescribed by Allah and His Prophet.