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 ?
Attempts to launder money off the track through racing's financial organisations are also seen as unlikely with Weatherbys bank pointing to a high proportion of domestic clients limiting the likelihood of individuals using the bank for nefarious activities.
launder covers shall provide an effective seal to prevent air ingress, eliminating the need for inert nitrogen/argon covers along the entire length of launders;
White-collar professionals sometimes are used to help launder money.
Other Administration proposals would prosecute foreign officials who embezzle money and launder it through U.
Given the intricate nature of the schemes criminals use to launder money, there are obviously practical limitations upon the intensity of scrutiny that U.
A recent and highly publicized case prosecuted in New York provides an example of the ease with which criminals can launder large amounts of money in a short time period.
Both promise easy outlets for drug traffickers and others who launder an estimated US$600 billion in criminal funds annually.
A restriction in the pour siphon increases the response time to raise or lower the metal in the pour launder.
BANK supervision in the Philippines is strict enough to help ensure unscrupulous individuals and terrorist groups are not able to launder money in the country, the Bangko Sentral ng Pilipinas has assured in the wake of a controversy involving a US branch of Standard Chartered Bank.