launder

laun|der /l'ɔːndər/ (launders laundering laundered)
1 [VERB] V n
When you launder clothes, sheets, and towels, you wash and iron them. (OLD-FASHIONED)
How many guests who expect clean towels every day in an hotel launder their own every day at home?...
2 [VERB] V n
To launder money that has been obtained illegally means to process it through a legitimate business or to send it abroad to a foreign bank, so that when it comes back nobody knows that it was illegally obtained.
The House voted today to crack down on banks that launder drug money.
launderer [N-COUNT]
...a businessman and self-described money launderer.

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