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Geldwäsche

money laundering

noun GELT-veh-she Rare
People & Society Crime

Usage Note

Geldwäsche is the process of disguising the origins of illegally obtained money. It is a criminal offence under § 261 StGB and is a major concern for banks and tax authorities. Geldwäschebeauftragter is a compliance officer.

Examples

"Die Bank wurde verdächtigt, an Geldwäsche beteiligt gewesen zu sein."

Natural Translation

The bank was suspected of having been involved in money laundering.

Literal Translation

The bank was suspected, at money-laundering involved been to have.

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