How does money laundering work?

Money laundering is the term for any process that “cleans” illegally obtained funds of their “dirty” criminal origins, allowing them to be used within the legal economy. And the practice is about as old as money itself. But how does it actually work? Delena D. Spann describes the ins and outs of money laundering.

Comment on:
What act, pertaining to money laundering, was significant in the year 1986?
With the rise of virtual currency what is another method used to launder money?
With the advancement of technology, is it easier to detect money laundering? Please explain.