funnel account
A bank account that receives multiple small cash deposits in one geographic area and…A bank account that receives multiple small cash deposits in one geographic area and quickly withdraws or transfers them in a different area; criminals may use these accounts to hide illegal money, avoid reporting limits, or move funds across regions.
Meaning
1 sensesA bank account that receives multiple small cash deposits in one geographic area and quickly withdraws or transfers them in a different area; criminals may use these accounts to hide illegal money, avoid reporting limits, or move funds across regions.
Forms
plural: funnel accounts| Singular | funnel account |
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| Plural | funnel accounts |
regular
See also
neighbours in the dictionaryDictionary text adapted from Wiktionary (Wiktionary contributors, CC BY-SA 4.0) and Open English WordNet / Princeton WordNet (CC BY 4.0, WordNet License); shared under CC BY-SA 4.0. Example sentences and recordings are credited where they appear.