This workshop offers a blended examination of the conceptual foundations and practical mechanisms underlying money laundering (ML) and terrorism financing (TF). Participants will explore the three-stage model of ML --placement, layering, and integration-- alongside the multiple funding sources and channels used in TF. By combining core principles from international regulatory frameworks with real-world case studies, the workshop shows how illicit actors exploit financial systems and how institutions can use risk-based controls to detect, prevent, and report suspicious activities.