(of clothes or linen) washed and ironed

laundered sheets

(of money) obtained illegally and processed secretly, typically by transfers involving foreign banks or legitimate businesses

the property was bought with laundered money

wash and iron (clothes or linen)

he wasn't used to laundering his own bed linen

conceal the origins of (money obtained illegally), typically by transfers involving foreign banks or legitimate businesses

$123,000 had been laundered through Geneva bank accounts