Financial Crime Terminology

noun a place where laundering is done

verb to wash or clean (clothes, linens, etc.)

• The company was accused of using offshore accounts to launder money.
• I heard that some people use cryptocurrency to launder their money.
• I can't believe he tried to launder his dirty money through a car wash.
• She tried to launder her reputation by making a large donation to charity.

noun A person who lends money in exchange for personal property as security

• The government is cracking down on illegal lending practices, including those of loan sharks.
• I heard that Tony got mixed up with a loan shark and now he's in big trouble.
• Stay away from that guy, he's a real loan shark.
• The company's high interest rates were likened to those of a loan shark preying on desperate customers.

noun a path or route that money follows from one person or organization to another, especially in a way that is illegal or dishonest

• The investigators followed the money trail to uncover the source of the illegal funds.
• They traced the money trail back to the suspect's bank account.
• The cops are on the money trail trying to catch the thief.
• The money trail led him to success in his career.

noun the use of someone else's personal information without their permission, typically for financial gain

• Identity fraud is a serious crime that involves using someone else's personal information for financial gain.
• I heard that Sarah's bank account was hacked and she became a victim of identity fraud.
• Watch out for scammers trying to pull off identity fraud schemes.
• In a world where social media can blur the lines of identity, protecting yourself from identity fraud is crucial.

noun A term used in financial crimes to describe individuals who facilitate money laundering by transferring stolen or illegal funds.

• A money mule is a person who transfers money acquired illegally in person, through a courier service, or electronically, on behalf of others.
• I heard that John got caught being a money mule for some shady characters.
• Don't be stupid and become a money mule for those scammers.
• Being a money mule is like playing with fire - you're bound to get burned eventually.