laundering

Meanings

• Noun

  The process of making illegally-gained proceeds appear legal.

  - "The mafia used money laundering to hide their illegal earnings."
  - "Laundering is a common method used by criminals to avoid detection."

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Variants

List of all variants of laundering that leads to same result
launder , laundered , launderer , launderers , laundering , launders

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Etymology

origin and the way in which meanings have changed throughout history.

From the process of cleaning dirty clothes, metaphorically used for hiding illegal proceeds.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Money laundering is estimated to be a $2 trillion industry worldwide.

2. The first recorded instance of money laundering dates back to ancient China.

3. The term 'money laundering' was first used in the United States in the 1920s.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Money laundering: The process of disguising the proceeds of criminal activities as legitimate business transactions.

2. Laundering methods: Various techniques used to launder money, including placement, layering, and integration.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Laundering has been a significant theme in literature and film, often portraying the glamorous lifestyle of the wealthy and the dangerous world of organized crime.

How to Memorize "laundering"

1. visualize
   

   - Imagine a large pile of dirty money being sorted and mixed with clean funds, then transferred through various accounts and businesses to hide its origin.

2. associate
   

   - Associate the term with criminal activities and the attempt to hide illegal proceeds.

3. mnemonics
   

   - Create a mnemonic using the acronym L.A.U.N.D.E.R. - Layering, Avoidance, Underground banking, Nefarious activities, Diversion, and Explanation.

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