MONEY-LAUNDERING

glossary /

MONEY-LAUNDERING

money-laundering, n. The act of transferring illegally obtained money through legitimate people or accounts so that its original source cannot be traced. ? Money-laundering is a federal crime. 18 USCA ¡ì 1956. It is also addressed by state governments, e.g., through the Uniform Money Services Act. Because some money-laundering is conducted across national borders, enforcement of money-laundering laws often requires international cooperation, fostered by organizations such as Interpol. [Cases: United States 34. C.J.S. United States ¡ì¡ì 162¨C163.]
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