THE PRESENT STUDY AIMS TO DESCRIBE THE RELATIONSHIP BETWEEN CORRUPTION AND money laundering. THE MOTIVATION OF THIS PAPER FOR DEFINITION OF PROBLEM IS BECAUSE THE CORRUPTION NOT ONLY IS A GREAT THREAT FOR DEVIATION IN THE RULING STRUCTURE OF A COUNTRY, BUT ALSO IN LARGER SCALE, CAUSES INSTABILITY OF ECONOMIC AND POLITIC SYSTEMS OF NEIGHBOR COUNTRIES AND THEREAFTER ALL WORLD COUNTRIES. IN A WORLD THAT THE GOAL IS TAKING EFFORT FOR ACHIEVING THE GLOBAL VILLAGE THROUGH GLOBALIZATION CONCEPT, THE money laundering MAY BE ONE OF THE MOST THREATENING CHALLENGES OF FINANCIAL AND BANKING SYSTEMS OF COUNTRIES THROUGH BUREAUCRATIC CORRUPTION. IN THIS PAPER, THE BEST AND MOST UPDATED INTERNATIONAL PAPERS IN RELATION TO THE CORRUPTION AND money laundering IS REVIEWED WHICH INCLUDES CASE STUDIES IN THE DEVELOPED COUNTRIES SUCH AS AUSTRALIA AND BRITAIN AND DEVELOPING OR UNDEVELOPED COUNTRIES INCLUDING AFRICAN COUNTRIES SUCH AS SOUTH AFRICA, SENEGAL AND ZIMBABWE, AS WELL. ONE OF RESULTS OF THE PRESENT PAPER IS STUDY OF money laundering PHENOMENON THAT IS A WAY FOR SO CALLED “CLEANING” THE CRIMINAL AND ILLEGAL FINANCIAL REVENUES CREATED THROUGH CORRUPTION. IN ADDITION, THE GLOBAL EFFORTS THAT RESULTED IN ESTABLISHMENT OF INITIAL STRUCTURES FOR CONTROL OF CORRUPTION ARE REVIEWED. THESE INSTITUTIONS INCLUDE UNITED NATIONS CONVENTION AGAINST CORRUPTION (UNCAC), AND money laundering CONTROL GROUPS SUCH AS FINANCIAL ACTION TASK FORCE (FATF) WHICH HAVE BEEN ESTABLISHED BY THE HEADS OF SEVEN INDUSTRIAL COUNTRIES.