Money laundering

Money laundering,

Definition of Money laundering:

  1. Legitimization (washing) of illegally obtained money to hide its true nature or source (typically the drug trade or terrorist activities). Money laundering is effected by passing it surreptitiously through legitimate business channels by means of bank deposits, investments, or transfers from one place (or person) to another.

  2. Money laundering is a serious financial crime that is employed by white collar and street-level criminals alike. Most financial companies have anti-money-laundering (AML) policies in place to detect and prevent this activity.

  3. Money laundering is the illegal process of making large amounts of money generated by a criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source. The money from the criminal activity is considered dirty, and the process "launders" it to make it look clean.

How to use Money laundering in a sentence?

  1. The prevention of money laundering has become an international effort and now includes terrorist funding among its targets.
  2. The rampant money laundering that occurred in Miami in the 1980s led to banks charging customers a percentage of their deposits just for the privilege of storing their clean money in banks across the city.
  3. Criminals use a wide variety of money laundering techniques to make illegally obtained funds appear clean.
  4. We found out that the little Mexican restaurant that never seemed to have any customers was actually a money laundering front for the Mafia.
  5. Money laundering is the illegal process of making "dirty" money appear legitimate instead of ill-gotten.
  6. Walter White from AMC TV�s drama series, Breaking Bad, purchased a car wash and used money laundering techniques to hide all the money he made from the sale of his methamphetamine.
  7. Online banking and cryptocurrencies have made it easier for criminals to transfer and withdraw money without detection.

Meaning of Money laundering & Money laundering Definition