Money Laundering Definition: The conversion or transfer of money obtained by crime for the purposes of frustrating law enforcement. Related Terms: Money, Hawala Canada's Criminal Code defines money laundering as: "Every one commits an offence who uses, transfers the possession of, sends or delivers to any person or place, transports, transmits, alters, disposes of or otherwise deals with, in any manner and by any means, any property or any proceeds of any property with intent to conceal or convert that property or those proceeds, knowing or believing that all or a part of that property or of those proceeds was obtained or derived directly or indirectly as a result of the commission in Canada of a designated offence; or an act or omission anywhere that, if it had occurred in Canada, would have constituted a designated offence." In Trade-Based Money Laundering, jurist Christine Mingie-Duhaime describes it as: "... to convert dirty money — the proceeds of illegal activities — into clean cash to disguise its illicit origin." REFERENCES: Criminal Code, Revised Statutes of Canada 1985, Chapter 46, §462.31 Mingie-Duhaime, Christine, "Trade-based Money Laundering", The Lawyers' Weekly, July 17, 2009 (Toronto, Canada)Duhaime's Anti-Money Laundering Law in Canada Categories & Topics: Company, Associations and Commercial Law Dictionary Criminal Law Dictionary Find you are constantly looking up definitions? Try our search provider (works in most modern browsers) If you find an error or omission in Duhaime's Legal Dictionary, or if you have legal term suggestion, we'd love to hear from you!