Financial Glossary: Smurf


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Smurf

Smurf

Slang for somebody who frequently launders money.

Not the same as those cute blue creatures we all remember so fondly. Instead, it describes someone much more like their nemesis Gargamel. The process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source is money laundering.

Some estimate the size of the problem is over $500 billion annually. Often thought of as a victimless crime, money laundering is a very serious issue. Without it, international organized crime would not be able to function.

Posted by Shine Consultant International, Marcus evans Summits

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