Money Laundering

As a Noun

1. The illegal process of disguising the origins of money obtained from criminal activities, making it appear legitimate.
2. A financial crime where illicit funds are moved through various transactions to hide their true source.
3. A method used by criminals to integrate “dirty money” into the legal economy.

Word History

The term money laundering originated in the early 20th century, but it became widely recognized during the 20th century due to organized crime. The concept refers to “cleaning” illegally obtained money, much like laundering dirty clothes. One of the earliest references is linked to criminals using businesses, such as laundromats, to mix illegal earnings with legitimate income.

Examples

1. The company was investigated for its involvement in money laundering activities.
2. Criminal organizations often use offshore accounts for money laundering.
3. Authorities introduced stricter regulations to prevent money laundering in financial institutions.

Synonyms

Financial fraud, illegal fund transfer, illicit money processing

Related Words

Fraud, corruption, embezzlement, tax evasion

Antonyms

Legal transactions, legitimate earnings, financial transparency