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What is the difference between money laundry & tax evasion?

Banking
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Question added by Islam Abd El Aziz , Chief accountant , M.A.Kharafi & Sons
Date Posted: 2014/03/08
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Subhranshu Ganguly
by Subhranshu Ganguly , Quality Analyst. , WIPRO

Money laundering is much more dangerous than tax evasion.

Tax evasion is nonpayment of taxes or non payment of full amount of tax payable.

Money laundering is misuse of funds sometimes earned through smuggling and drug abuse to fund global terrorism.

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