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Money laundering is the process of changing the color of the money. When the money is laundered through gambling, the layering stage takes place when the cash (or chips purchased through an intermediary). Placement puts the dirty money into the legitimate financial system.

Placement is the first step of money laundering which is the process of moving the money into the legitimate source via financial institutions, casinos, financial instruments etc.

Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. Money laundering typically includes three stages: Organized criminals accumulate a large amount of cash. The money from the criminal activity is considered dirty, and the process launders it to make it look clean.