Money laundering is the process of making dirty money look clean. It erodes financial institutions and weakens the financial sectors role in economic growth. It has the habit of facilitating corruption, crime and other illegal activities at the expense of countries development and can increase the risk of macroeconomic instability. The negative economic effects of money laundering on economic development are difficult to quantify. Real estate has been the preferred choice of criminals for masking illegally gained funds and manipulations, also when unaccounted funds (black money) are funneled into real estate by individuals and institutions, then it becomes impossible for an ordinary individual to buy a piece of land.