launder

launder definition - business

launder

To convert money obtained from illegal activities into funds that appear to have been acquired legally. For example, illegally obtained funds are used to purchase chips at a casino. Winnings would then be pocketed as legitimate.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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