laundering
n. uncountable C1 Advanced US //ˈɫɔndɝɪŋ// UK //lˈɔːndəɹɪŋ// laun·der·ing
n. the act of hiding where illegal money comes from. You do this to make 'dirty' money look like it was earned legally.
n. the process of concealing the origins of money obtained illegally, typically by means of transfers involving foreign banks or legitimate businesses.
The bank was fined for its role in money laundering.
The criminal organization used a chain of restaurants as a front for laundering their illegal profits.
Modern financial regulations are designed to detect sophisticated laundering schemes that attempt to move illicit funds through multiple offshore accounts to obscure the audit trail.
Usage
Commonly appears in the compound noun 'money laundering'.