Smurfing (structuring)
Definition
Breaking a large cash sum into multiple smaller transactions, each below the mandatory reporting threshold, to avoid triggering Currency Transaction Reports or equivalent filings.
Related terms
- Integration
- The area under each peak in a 1H NMR spectrum, proportional to the number of equivalent protons giving rise to that peak....
- Layering
- The second stage, in which placed funds are moved through a series of transactions, entities, and jurisdictions to obscure the paper trail...
- Placement
- The first stage of money laundering, in which criminal proceeds, typically cash, are introduced into the financial system through bank deposits, currency...
- Shell company
- A legal entity with no active business operations, used to hold assets or pass money through while concealing the identity of the...
- Trade-based money laundering (TBML)
- A method that moves value by manipulating import and export invoices, over- or under-stating prices or quantities to transfer value between parties...
Explained in
- Money Laundering: Placement, Layering, and IntegrationBreaking a large cash sum into multiple smaller transactions, each below the mandatory reporting threshold, to avoid triggering Currency Transaction Reports or...