money laundering
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money laundering
The criminal process of introducing illegally acquired money, so-called 'Schwarzgeld' (black money/illicit funds), into the legal financial and economic system in order to conceal its origin.
Die Ermittler haben ein internationales Netzwerk zur Geldwäsche aufgedeckt.
The investigators uncovered an international money-laundering network.
The word is a very vivid compound made up of 'Geld' (money) and 'Wäsche' (laundry/washing). The metaphor is that dirty (illegal) money is 'gewaschen' (washed) to make it look 'sauber' (clean/legal).
Das Bild vom „Geld waschen“ hilft, sich die Bedeutung zu merken.
The image of 'Geld waschen' (washing money) helps you remember the meaning.
The criminal activity itself is described with the verb 'Geld waschen' (to launder money). Note that it is written as two words.
Er wird beschuldigt, für die Organisation Geld gewaschen zu haben.
He is accused of having laundered money for the organization.
In connection with crime and law, you often hear 'Verdacht auf Geldwäsche' (suspicion of money laundering). Authorities 'ermitteln wegen Geldwäsche' (investigate for money laundering), and criminals 'betreiben Geldwäsche' (engage in money laundering).
Die Bank meldete einen Verdacht auf Geldwäsche.
The bank reported a suspicion of money laundering.
tax evasion
'Steuerhinterziehung' (tax evasion) and 'Geldwäsche' (money laundering) both have to do with illegal money and financial crime. The difference lies in the goal of the act. With 'Steuerhinterziehung', someone deliberately pays less tax, for example by giving false information to the tax office. With 'Geldwäsche', money from a crime is made to look as if it comes from a legal source. Learners may confuse the words because both often appear in news stories about money, companies, or crime. Remember: 'Steuerhinterziehung' concerns unpaid taxes; 'Geldwäsche' concerns the hidden origin of illegal money.
Die Bank meldete den Verdacht auf Geldwäsche, weil plötzlich sehr hohe Beträge eingezahlt wurden.
The bank reported suspected money laundering because very large amounts were suddenly deposited.
Der Unternehmer wurde wegen Steuerhinterziehung angeklagt, weil er Einnahmen nicht angegeben hatte.
The business owner was charged with tax evasion because he had not declared income.