launderette

Definitions

1. A place that has facilities for washing and drying clothes that the public may pay to use.
2. A money laundering operation.

Equivalents

Examples

“The distinction is by no means watertight as any 'money launderette' may become⟳ a money launderer – and hence be guilty of a money laundering offence – the moment it knowingly engages in a money laundering operation.”

“From drug money to terrorist finance: the launderette's many different washing cycles”

“This is a stage⟳ at which the proceeds of illegal activity are introduced into the financial system and therefore it is the most vulnerable stage⟳ in the launderette. Perhaps this is why anti-money laundering measures are concerned about “Know⟳ Your Customer Principle.”

CEFR level