Since I am not a lawyer—only a damn good bookkeeper-—what is the definition of MONEY LAUNDERING???
From my Mac dictionary app:
The concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses
Money Laundering is running gains from an illegal business through a legitimate business to make it look like profits in the legit business, hiding the illegal business. The idea is that you can pay taxes on the money and use it as legitimate gains.
So I make a lot of money selling pot that I grow. In order, to use the money and legitimize it. I go to a casino and play at roulette making lots of safe bets. Maybe I play red all the time. Doesn’t matter. But I give the dealer 100s and he gives me chips. I bring the chips into the cashier asking for a receipt. And claim the gambling profits. There are lots of ways to do it. Especially if you have a cash business. Normally you lose some part of the money and you pay taxes on it. But many times, your just over paying for something. Or paying for something in cash with a squishy value.