This paper investigates how to prevent, monitor and regulate money laundering in the modern financial system. The basic concepts (money and money laundering), the evolution of the concept of money laundering and the stages and techniques of money laundering are defined. The paper emphasizes the importance of recognizing risk as part of money laundering prevention, the importance of creating international regulations and provisions by which the European Union monitors and controls this phenomenon, that is, illegal activity. It follows the development of the Recommendations of Financial Action Task Force on Money Laundering (FATF), from its beginnings in 1990. to the present, and the refinement of EU Directives. In the context of this, some "blacklists" have been set aside to reflect the impact of the anti-money laundering regulations themselves on the Member States of the Financial Action Task Force on Money Laundering. The process of initiating the investigation into suspected money laundering is described, as is the Croatian normative framework against money laundering. Croatia's regulatory framework follows international and European Union standards. The role of the Internet is also explored and how the advancement of technology on the one hand helps to combat money laundering and, on the other, facilitates money laundering activity itself.