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English definition of “laundry”

laundry

noun [C]     /ˈlɔːndri/ (plural laundries)
LAW, FINANCE an organization that hides the origin of money earned illegally and makes it seem legal: Evidence of the bank serving as a money laundry in the bailout scandal has been identified.
(Definition of laundry noun from the Cambridge Business English Dictionary © Cambridge University Press)
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