money-laundering
UK[ˈmʌni ˌlɔːndərɪŋ]US[ˈmʌni ˌlɑːndərɪŋ]
n
The process of concealing the origin of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions.
Morpheme Breakdown
money
laundering
money
currency
laundering
cleaning
Etymology
The term is a modern compound, first recorded in the early 20th century, which metaphorically applies the domestic process of washing clothes to the illicit financial process of "cleaning" dirty money. The word "money" originates from the Latin Moneta, an epithet of the goddess Juno in whose temple coins were minted in Rome. "Laundering" derives from the Latin verb lavare, meaning to wash, which evolved through Old French into English. The compound's logic is vividly metaphorical: just as laundering removes stains from fabric, money-laundering attempts to remove the "stain" or illegal origins from criminal proceeds, making them appear legitimate.
Analysis
Structure: money (currency) + laundering (cleaning)
- money: From Old French moneie, from Latin moneta (mint, money). Functions as the object or subject of the action in the compound.
- laundering: From verb launder, from Old French lavandiere, from Latin lavare (to wash). Functions as the action performed on the object, using a metaphorical sense of cleaning.
Examples
The bank was fined heavily for its failure to prevent money-laundering.
He was arrested on charges of fraud and money-laundering.
International cooperation is crucial in the fight against money-laundering.