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.

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References in periodicals archive ?

Its main money laundering exposure comes from a widespread lack of access to formal financial institutions, particularly in the rural sector.

Pakistan losing $10 billion a year to money laundering

The Anti-Money Laundering Task Force took cognizance of the respondents' averment that contrary to the charge filed against them, they have properly submitted a Suspicious Transaction Report (STR) on 17 February 2016.

DOJ junks money laundering case vs Philrem execs

Although the commission does not have any capacity to investigate the money laundering cases however the SECP will send three names to apex court with two or three days.

SECP cannot investigate money laundering

He recalled that in the past as well as recently Cyprus was evaluated as regards money laundering activities, adding that in November 2011, the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) drafted an assessment report giving Cyprus a good evaluation as regards major anti-money laundering and counter-terrorist financing measures.

"War" against Cyprus on alleged money laundering must stop

Companies must put in place appropriate systems and controls to detect and report money laundering, and to instill an overall compliance culture within the company to mitigate the risk of becoming conduits for money laundering.

Anti-money laundering, a guide to UAE rules

Henwood's assertions were backed up by Tim Moore, chief executive of Administration of Gambling on Tracks Ltd, the body responsible for the administration of racecourse bookmakers and the conduct of on-course betting, who said that the betting ring is regarded as a poor area to attempt money laundering.

Money laundering inr acing unlikely

The use of large cash payments has repeatedly proven to be very vulnerable to money laundering and terrorist financing.

Money laundering directives and corruption in the European Union

MONEY LAUNDERING CRIMINAL PROSECUTIONS/CONVICTIONS:

Costa Rica

The growing problem of money laundering gained interest after the 9/11 terrorist attacks in 2001.

Attorney calls for agency to monitor money laundering

Links to Narcotics Trafficking and Money Laundering Network

Lebanese Canadian Bank in U.S. Treasury crosshairs

In December 2007, Estonia was the first of the three nations to implement the EU's third anti-money laundering directive 2005/60/EC, with the passage of a Money Laundering and Terrorist Financing Prevention Act 2007.

AML progress picking up in the Baltics

The Center of Media and Economic Studies and the Yemeni Banking Magazine held a symposium about money laundering hazards on Yemen's economy.