The paper presents the most important money laundering techniques that are widespread around the world today, with an emphasis on the stages of money laundering and the methods used in these phases. The paper provides a detailed analysis of the money laundering methods used in the banking and corporate sectors. The paper discousses the issue of businesses in offshore zones and the so-called tax havens, which are very suitable for potential money launderers. The paper also touches on the topic of financing terrorism with dirty money, and higlights some examples from practice by the Ured za sprječavanje pranja novca in Croatia. The paper summarizes the most important consequences of money laundering in the business of companies, but also the entire state economy, of which the creation of unfair competition and the negative impact on the state budget and total tax revenues. In addition, the paper brings a number of recommendations for the operations of banks and financial institutions aimed at preventing money laundering. Also, the importance of national and international legal frameworks for the prevention of money laundering and terrorist financing, as well as the establishment of quality systems at the national and international levels, is emphasized.