Launder


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Launder

To move illegally acquired cash through financial systems so that it appears to be legally acquired.

Money Laundering

An illegal act in which one makes illegally obtained money appear to be legally obtained. For instance, one may route money obtained in drug trafficking through a shell company to give it the veneer of legitimacy. One formerly common example is the practice of exchanging illegally obtained money for coins and placing them into a soda machine. One then deposits money from the soda machine such that it looks like the money came from the purchase of sodas rather than from its real source.
References in periodicals archive ?
In the hands of a skillful launderer, the payment for goods that appeared to have been delivered by one company based upon an invoice of sale prepared by another company covers the laundering of the purchase price when the goods never existed, and the companies are owned by the same party; the sale of real estate for an amount far below market value, with an exchange of the difference in an under-the-table cash transaction, launders what, on the surface, appears to be capital gain when the property is sold again; and a variety of lateral transfer schemes among three or more parties or companies covers the trail of monetary transactions between any two of them.
Another problem with restarting a pressure pour is that the first metal into the pour launder is cooled as energy is transferred from the treated iron into the refractory.
To hide these funds, the criminals established a bank in Antigua, in which they set up accounts, bought expensive assets, including real estate, and establines lines of credit enabling them to launder their illicit proceeds and use them anywhere.
Most experienced fraud investigators view the Channel Islands and the Isle of Man [1] as loosely regulated tax havens immune to inquiries from foreign authorities, which make the Islands the choice of criminals to launder their illegal gains.
Friday's indictment also alleges that Nash planned an elaborate fraud and money laundering scheme between August 1994 and November 1995 in which he designed a system to launder criminal proceeds generated by associates of the enterprise and disguised ownership of property owned by a member of the enterprise.
However FATF notes that "unlike other serious and organised crime topics, there is very limited knowledge about the methods being used by criminal organisations to launder illegal proceeds related to human trafficking and illegal migration.
Snyder had pleaded guilty to avoid a trial on nine misdemeanor counts involving laundering and conspiracy to launder contributions between March 1990 and May 1992.
Today, the Racketeering Records Analysis Unit (RRAU)of the FBI Laboratory in Washington, DC, can establish this necessary link by examining the records kept by criminals who launder money.