Many a times we come across the term ‘’Money Laundering’’ in the financial and corporate transactions. What does it really mean ?(Pick up the correct statement)

This in fact is an exercise which help companies in making their financial statements more attractive so that they can raise funds through loans and advances from banks

The term is used to depict the activity by which banks and financial institutes find out the amount actually needed by a company to complete a project or a particular activity, irrespective of their demand for a loan/advance

When three-four banks or financial institutes come together to finance a company, it is called money laundering. They money raised in such case is kept with some altogether new bank and can be withdrawn only by the joint permission of the creditors

When some money is passed on to some unknown persons for some secretive purposes without the knowledge of the tax and governmental authorities the activity is called money laundering

None of these