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- DictionaryMon·ey laun·der·ing
noun
- 1. the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses: "he was convicted of money laundering and tax evasion"
Apr 11, 2024 · Money laundering is an illegal activity that makes large amounts of money generated by criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate...
Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them. Through money laundering, the criminal transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source.
Money laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions.
Jul 4, 2024 · money laundering, the process by which criminals attempt to conceal the illicit origin and ownership of the proceeds of their unlawful activities. By means of money laundering, criminals attempt to transform the proceeds from their crimes into funds of an apparently legal origin.
Money laundering generally refers to financial transactions in which criminals, including terrorist organizations, attempt to disguise the proceeds, sources or nature of their illicit activities. Money laundering facilitates a broad range of serious underlying criminal offenses and ultimately threatens the integrity of the financial system.
Mar 21, 2024 · Money laundering definition: “Cleaning” money obtained illegally to erase its connection to criminal activity. When people traffick drugs or commit other financially motivated crimes, they gain large sums of money.
Feb 3, 2015 · Money laundering is a term used to describe a scheme in which criminals try to disguise the identity, original ownership, and destination of money that they have obtained through criminal conduct. The laundering is done with the intention of making it seem that the proceeds have come from a legitimate source.
