Canada's Criminal Code defines money laundering as:
"Every one commits an offence who uses, transfers the possession of, sends or delivers to any person or place, transports, transmits, alters, disposes of or otherwise deals with, in any manner and by any means, any property or any proceeds of any property with intent to conceal or convert that property or those proceeds, knowing or believing that all or a part of that property or of those proceeds was obtained or derived directly or indirectly as a result of the commission in Canada of a designated offence; or an act or omission anywhere that, if it had occurred in Canada, would have constituted a designated offence."
In Trade-Based Money Laundering, jurist Christine Mingie describes it as:
"... to convert dirty money — the proceeds of illegal activities — into clean cash to disguise its illicit origin."
REFERENCES:
- Criminal Code, Revised Statutes of Canada 1985, Chapter 46, §462.31
- Mingie, Christine, "Trade-based money laundering", The Lawyers' Weekly, July 17, 2009 (Toronto, Canada)