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 ?
Abu Baker Murshed Al-Zuhairi, professor of public law in the Faculty of Law at Sana'a University, discussed the hazards of money laundering on the national economy.
Money laundering has been defined as the "transferring (of) illegally obtained money or investments through an outside party to conceal the true source".
These are statutory checks and balances provided in Prevention of Money Laundering Act, 2002."
A Joint Investigation Team JIT formed to probe into the mega money laundering scam submitted its report in the Supreme Court.
The two institutions, according to Mr Molefhi, had also adopted parallel investigation approach, wherein all cases in, which predicate offences were investigated were also subjected to money laundering investigation.
He said money laundering and the financing of terrorism are complex offences, so an investigation has to be launched, but they are often intricately intertwined with many other offences, and this leads to confusion.
The Finance Minister said the day's meeting highlighted on a specific area which was to prevent money laundering and terrorism financing.
"The latter might endanger the morals of an individual, the former invariably endangers the morals of the entire country." Kenyan security agencies recently commenced investigations into a suspected complex and intricate money laundering web after busting a cache of "fake" $20 million banknotes in a secure vault in a leading bank in Nairobi.
For Any Query on the Anti-Money Laundering Software Market: https://adroitmarketresearch.com/contacts/enquiry-before-buying/342 About US: Adroit Market Research is an India-based business analytics and consulting company.
Aquino said that laundered money comes from the trafficking of illegal drugs and also finances terrorism, while banks and other entities have become conduits of laundering drug money.
The Philippine Drug Enforcement Agency (PDEA) and the Anti-Money Laundering Council (AMLC) have tightened the lid on the financial transactions of suspected drug lords, and even terrorists, with the signing of a memorandum of agreement (MOA) on Tuesday that seeks to stop the laundering of money from the illegal-drugs business.
The largest part of this money passed through the Estonian branch of Danske Bank, Denmark's biggest bank, which is in the spotlight for having allowed around 9.5 million payments from high-risk customers, including as part of other money laundering schemes such as the Azerbaijani Laundromat.