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 ?
Although authorities recognize the abuse of certain sectors by money launderers, the response of law enforcement entities is limited by lack of judicial capacity, corruption, and cumbersome current asset forfeiture laws.
He said the legal process 'has from the start been a stumbling block to the immediate prosecution of suspected money launderers underline the urgency for the Congress to pass new legislation relaxing the country's bank secrecy law.'
Bob had established his credentials as a money launderer by luring dealers on the fringes of the cartels with his undercover colleague Emir Abreu.
Arguments can certainly be made that hedge funds are not the most attractive (i.e., liquid) option for money launderers and that banks are performing AML procedures already.
Of course as AML laws and regulations are enhanced, the money launderers evolve and adapt.
Figures released earlier this month showed in the past two and a half years, more than 2,500 tonnes of toxic sludge have been dumped all over Northern Ireland by fuel launderers.
When I shared this incident with a friend I was shocked when he told me that most launderers take dry clean orders and just do laundry!
Not all international money launderers, it seems, are built the same.
Summary: Rapid growth of Kuwait's financial sector could create an attractive environment for money launderers and terrorism financiers, the International Monetary Fund said in a report.
THREE international money launderers who were dubbed the Gone In 60 Seconds gang are today behind bars over a racket to launder pounds 1 million of drugs money through Birmingham banks every month.
Cyberspace offers opportunities for financial criminals to improve their illegal activities, money launderers learn rapidly the electronic payment instruments, the use of virtual casinos, online auctions, and virtual games, ensuring a legal facade in order to seize illicit income.