Laundering: meaning, definitions and examples
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laundering
[ ˈlɔːndərɪŋ ]
financial crime
Laundering refers to the process of making illegally obtained money appear legitimate. It typically involves three stages: placement, layering, and integration. In the placement stage, the illicit funds are introduced into the financial system, often through casinos or bank deposits. Layering involves separating the money from its criminal origin through a series of complex transactions. Finally, integration allows the now-clean money to be reintroduced into the economy, where it can be used without raising suspicion.
Synonyms
cleaning money, financial concealment, money laundering.
Examples of usage
- The bank was charged with facilitating money laundering activities.
- Authorities are cracking down on money laundering schemes.
- He was accused of laundering drug money.
- Preventing money laundering is a priority for many governments.
Translations
Translations of the word "laundering" in other languages:
🇵🇹 lavagem de dinheiro
🇮🇳 धन शोधन
🇩🇪 Geldwäsche
🇮🇩 pencucian uang
🇺🇦 відмивання грошей
🇵🇱 pranie pieniędzy
🇯🇵 マネーロンダリング
🇫🇷 blanchiment d'argent
🇪🇸 lavado de dinero
🇹🇷 kara para aklama
🇰🇷 자금 세탁
🇸🇦 غسل الأموال
🇨🇿 praní špinavých peněz
🇸🇰 pranie špinavých peňazí
🇨🇳 洗钱
🇸🇮 pranje denarja
🇮🇸 peningaþvottur
🇰🇿 ақша жуу
🇬🇪 ფულის გათეთრება
🇦🇿 pul yuyulması
🇲🇽 lavado de dinero
Etymology
The word 'laundering' originates from the verb 'to launder', which means to wash. It was first used in the context of financial crime in the late 20th century, particularly in relation to efforts to disguise the illegal origins of funds. The phrase 'money laundering' gained notoriety during the 1970s when it became a central issue in discussions about organized crime and drug trafficking. The term embodies the concept of 'cleaning' dirty money, similar to how one would wash clothes to remove dirt. Its usage has expanded over time, especially with the rise of global financial regulations aimed at combatting the practice.