Launder

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Related to launderers: Money launderers

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 ?
For some time, banks and other regulated businesses have been monitoring for value laundering, through which launderers seek to acquire the high value, but not always low volume goods.
The author proposes among the measures to counter the criminal activities of electronic money launderers the establishment by governments of a perfect system of automatic reporting of electronic payment transactions and he considers essential in this regard, strengthening international exchange and cooperation in the fight against transnational crime of money laundering (Peng, 2011).
gives rise to a particular risk: a money launderer can purchase a variable annuity and then seek a refund during the free look period.
Critics argue that the regime has done little more than force money launderers to change their methods.
However, as money launderers will naturally adopt the guise of law-abiding customers, I believe our policy of checking any large deposits is entirely reasonable.
Unfortunately, Mexico, which boasts the world's 11th-largest economy and a GDP in 2003 of US$626 billion, is considered a major home for money launderers, many of whom are tied to the leviathan drug trade.
There is a reason why commercial real estate transactions, which involve illiquid and most visible of assets, have not been a haven for money launderers.
To avoid this, many launderers make extra payments to themselves in the form of disguised consulting fees, salaries and the like.
Robert Hulme, (23), said he joined a gang of diesel launderers when he came to England in April 2001.
General Accounting Office (GAO) recently explored whether money launderers were using illicit funds already placed in bank accounts to pay off credit card bills.
A common, harmonized approach will prevent launderers from using the different laws and practices among the jurisdictions to their advantage both at the expense and disadvantage of countries interested in pursuing them.
INTERNATIONAL LAW OFFICERS ON THE TRAIL OF MONEY launderers face new setbacks a proliferation of casinos in Latin America and the spread of Internet gambling, especially in the Caribbean.