Through the definition of money laundering, it is indicated that it is an act violating the ethics and human values that call for the Halal earning of money in non-compliance with the Holy Book of Allah “Quran” and the traditions of His Prophet (peace be upon him. Therefore, it is deemed as a legal crime represented in the trial of making Haram “illegitimate” money as Halal “legitimate” money. There are many evidences from the Holy Quran and Sunna for the prohibition of this type of financial crimes.
There is no doubt that the money laundering negatively affects the economy and development and opens the door for the Haram money that is significantly related to illegal activities such as the drug trade, prostitution, arms trade, smuggling of goods, terrorist activities, counterfeiting or money stealing.

And do not eat up your property among yourselves for vanities, nor use it as bait for the judges, with intent that ye may eat up wrongfully and knowingly a little of (other) people's property. (Quran 2:188)

O ye who believe! Eat not up your property among yourselves in vanities: But let there be amongst you Traffic and trade by mutual good-will: Nor kill (or destroy) yourselves: for verily Allah hath been to you Most Merciful! (Quran 4:29)

There is profound meaning in it. 1. All your property you hold in trust, whether it is in your name, or belongs to the community, or to people over whom you have control. To waste is wrong. 2. In 2:188 the same phrase occurred, to caution us against greed. Here it occurs, to encourage us to increase property by economic use (traffic and trade). 3. We are warned that our waste may mean our own destruction ("nor kill or destroy yourselves"). But there is a more general meaning also: we must be careful of our own and other people's lives. We must commit no violence. This is the opposite of "trade and traffic by mutual good-will." 4. Our violence to our own brethren is particularly preposterous, seeing that Allah has loved and showered His mercies on us and all His creatures.

Narrated Abu Huraira:
The Prophet (peace be upon him) said, "A time will come when one will not care how one gains one's money, legally or illegally."

Sahih Al-Bukhari 2059

Money laundering as the name indicates is a generic process followed by criminals to disguise the origin, ownership, source and nature of the money generated by criminal activities by transferring it into legitimate channels and platforms. One cannot claim to check the type of crime from which the money has been earned when it comes to laundering that money. Both the parties have a separate extent of offence and separate charges for their action. The commonly heard sources of illegal money are corruption, tax evasion, fraud, illegal drug sales etc.
Otherwise, this act becomes an assistance for the criminals to take maximum benefit out of the crime without being noticed. This can further proceed to make such criminal groups strong and to provide them with financial services with an ease.