Vocabulary

It contains words often used in articles on Financial Fraud:

launder - to put money which has been obtained illegally into legal business and bank accounts, so that you can hide it or use it.

insider trading - illegal buying and selling of a company 's shares involving the use of secret information known only by people connected with the company.

smurfing - breaking large sums of money into small deposits.

haven - a place where people go to be safe.

tax haven - where you pay less taxes.

off-shore bank/company.. - a bank that is based abroad in a country where you pay less taxes than in your own country.

underestimate - to think that something is less important.

amass - to gradually collect a large amount of money.

scam (sl) - a clever but dishonest plan, usually to get money.

crooked - dishonest.

undercut - to sell goods or services more cheaply than another company.

undermine - to gradually make something less strong or effective.

shelve - to decide not to continue with a plan, idea.

crack down - to become more strict in dealing with a problem and punishing the people involved.

curb - to control or limit something.

tackle - to make a determined effort to deal with a difficult problem.

scoop up - to pick up something with a scoop or spoon.

loot - goods or money that have been stolen.