"Placement surreptitiously injects the “dirty money” into the legitimate financial system." Tornado Cash doesn't move the funds between financial systems at al

"Placement surreptitiously injects the “dirty money” into the legitimate financial system." Tornado Cash doesn't move the funds between financial systems at all "Layering conceals the source of the money through a series of transactions and bookkeeping tricks" The source of the coins is in plain sight - it's clearly from Tornado Cash, and when converted into fiat currency the source is very likely also obvious (some exchange) unless you do some in-person exchange of cash for coins, in which case this has nothing to do with Tornado Cash "Integration, the now-laundered money is withdrawn from the legitimate account to be used for whatever purposes the criminals have in mind for it" Again there's no legitimacy for the coins after going through Tornado Cash and the fiat currency is still under scrutiny.