What is money shifting?

Money shifting is a term commonly used to describe the practice of moving money from one account to another in order to hide its source or destination. This can be used for legal purposes, such as transferring funds between different bank accounts for convenience or to take advantage of a promotion, but it can also be done for illegal activities such as money laundering or tax evasion.

Money shifting can make it difficult for authorities to track the movement of funds and can be used to disguise the true source of the money. This can make it harder for authorities to trace illicit activities and hold accountable those involved in illegal financial transactions.

To prevent money shifting, financial institutions and authorities have implemented strict regulations and monitoring systems to detect and prevent suspicious transactions. These measures help to safeguard the integrity of the financial system and prevent criminal activities from being carried out unnoticed.