This process of legitimising the proceeds of crime is called money laundering.
Money laundering has two dimensions.
One is the national dimension which would entail laundering of money within the national economy. The other is the international aspect wherein international finance and banking come into play along with other features to facilitate money laundering at the global level. Since India has embarked upon economic liberalisation the process of greater integration of the Indian economy with the international financial and banking system would take place, and the global dimension of money laundering would come more and more into play. To anyone with even simple knowledge of economics, it is obvious that the above amounts have serious macro-economic implications with regard to the national economies, especially concerning the integrity of financial systems. Banking secrecy and wire transfer of money facilitate the process of money laundering.