What does it mean to launder something?

What does it mean to launder something?

1 : to wash (something, such as clothing) in water. 2 : to make ready for use by washing and ironing a freshly laundered shirt. 3 : to transfer (illegally obtained money or investments) through an outside party to conceal the true source.

What is money laundering in simple terms?

Money laundering is a process that criminals use in an attempt to hide the illegal source of their income. By passing money through complex transfers and transactions, or through a series of businesses, the money is “cleaned” of its illegitimate origin and made to appear as legitimate business profits.

What is laundering in clothing?

To launder is to wash your clothes or other things made from cloth, like sheets and towels. When you launder, you wash a load of laundry, or dirty clothes. These days most of us use a washing machine to launder, adding detergent to the water and then tossing the wet things in the dryer after they’re clean.

What is the most common way to launder money?

Common money laundering methods

• The structuring of large amounts of money into multiple small transactions at banks (often called smurfing)
• The use of foreign exchanges.
• Cash smugglers and wire transfers to move money across borders.
• Investing in high-value and movable commodities such as diamonds and gold.

How do you launder money?

Money laundering involves three basic steps to disguise the source of illegally earned money and make it usable: placement, in which the money is introduced into the financial system, usually by breaking it into many different deposits and investments; layering, in which the money is shuffled around to create distance …

What is laundry and laundering?

As nouns the difference between laundering and laundry is that laundering is the act, or occupation, of one who launders; washing and ironing while laundry is a laundering; a washing.

How did they wash clothes in the 1900s?

A plain wringer was the most common piece of home laundry machinery in 1900. English-speaking countries saw riverside washing, laundry bats, intermittent “great washes”, and the use of ashes and lye tail away. Later Victorians thought these methods were old-fashioned or quaint.

What does Chinese laundry mean?

In my experience, someone stating that the working conditions were likened to that of a Chinese laundry means nothing negative toward someone of Chinese descent, simply that the working conditions were or are hot, muggy, and uncomfortable.