launder money

launder money

To process large amounts of money obtained through illegitimate or illegal means, often in small increments through banks or other legitimate businesses, so as to conceal its source or origins. One of the clubs downtown was shut down last week on charges of laundering money for a local criminal enterprise.
See also: launder, money
Farlex Dictionary of Idioms.
See also:
  • launder
  • money laundering
  • in small doses
  • rake together
  • save up
  • save up (for something)
  • save money up
  • save money up (for something)
  • inch back
  • inch over
References in periodicals archive
BRITAIN'S biggest bank have been accused of helping drug dealers and gun runners launder money and evade tax with offshore accounts.
A US Senate report released on Tuesday concluded that HSBC has ignored warning signs that its global operations were being used to launder money from Mexican drug cartels and international terrorists.
A DEESIDE man who had previously admitted conspiring to import heroin into the UK, yesterday also admitted conspiracy to launder money.
Vikram Datta was a successful perfume businessman when the feds accused him of being part of a complex conspiracy to launder money from drug sales.
Some of Bulgaria's most popular clubs have ties with mafia bosses, who use them to launder money, according to a US diplomatic document revealed by whistle-blowing website WikiLeaks.
According to the report in the August, 2010 issue of Bloomberg Markets magazine, Bank of America Corp (NYSE: BAC) and Wachovia allegedly helped drug lords launder money in Mexico.
The law, which was originally backed by the US, was implemented to prevent terrorists to launder money in the region.
A MAN who allowed his bank account to be used to launder money stolen from the Department of Work and Pensions has been ordered to carry out 120 hours' community punishment.
Doden was charged with helping launder money for a group led by Susumu Kajiyama, a gangster dubbed the ''loan shark king,'' who attempted to hide profits obtained by lending money at illegally high interest rates, including some 5.1 billion yen transferred in May 2003 to accounts opened at Credit Suisse.
Government bond market through barely-legal procedures and the inclusion of shady investors that include a Russian gangster seeking to launder money through American financial markets that will expose the investment bank he works for to serious regulatory risk.
Noting that efforts to launder money and finance terrorism have been evolving rapidly recently to offset increased countermeasures, this edition includes new international standards and practices.
Likewise, companies would be well advised to insist that their agents and brokers establish sufficient systems to prevent the companies' policies and services from being used to launder money or further terrorism.
To prevent terrorists and other criminals from obtaining products, services, or access to property with which they could harm American citizens, or launder money for other illegal purposes, proper identification of customers is required under the USA Patriot Act and related Presidential executive orders
Kevin Joseph Campbell, 30, of Co Tyrone, Northern Ireland - jailed for three years for conspiracy to evade fuel tax and conspiracy to launder money. n Thomas Martin McCague, 31, of Armagh, NI - five years for conspiracy to evade fuel tax and conspiracy to launder money.
Every MSB is required to develop and implement an anti-money laundering compliance program designed to ensure that the business meets the Bank Secrecy Act guidelines for documentation, reporting of certain transactions, and policies and procedures to prevent use of the business to launder money.