money laundering

Meanings

• The process of making illegally-gained proceeds appear legal.

  - "Suspect A was charged with money laundering after depositing large sums of cash into multiple bank accounts."
  - "Money laundering involves moving funds through complex networks and transactions to conceal their illegal origin."
  - "The money laundering operation was uncovered when authorities traced the source of the funds."

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Variants

List of all variants of money 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.

Money laundering refers to the process of disguising the proceeds of illegal activities as legitimate income.

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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 global industry.

2. The term 'money laundering' was first used in the United States in the 1920s to describe the process of cleaning illegal gambling profits.

3. Money laundering can also involve the use of physical currency, such as large stacks of cash, or digital currency, such as Bitcoin.

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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 schemes: Various methods used to conceal the illegal origin of funds, such as smurfing, trade-based money laundering, and shell companies.

2. Money laundering regulations: Legislation and regulations designed to prevent money laundering and the financing of terrorism.

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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.

Money laundering has been a significant theme in various forms of literature, art, and music, often portrayed as a glamorous or sophisticated activity. In reality, it is a serious crime that can lead to severe penalties.

How to Memorize "money laundering"

1. visualize
   

   - Imagine large sums of cash being moved through complex networks of bank accounts and shell companies to conceal their illegal origin.

2. associate
   

   - Associate money laundering with illegal activities and the disguising of illegal funds as legitimate income.

3. mnemonics
   

   - Use the acronym 'PLACE' to remember the key steps of money laundering: Placement, Layering, and Integration.

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