Definition: Money laundering

Category: Crime and criminal justice

Process transferring illegally obtained money or investment from illegal economic activities (i.e. production and trafficking of drugs, prostitution, and smuggling of alcohol and tobacco, based on transactions mutually agreed between consenting parties) and outside party to conceal their true source, and make them (appear) legal. http://ec.europa.eu/eurostat/product?code=KS-05-17-202&mode=view