A colloquial term used to describe a method of money laundering, where a large number of people (smurfs) each transports and deposits cash into a bank account, or buys bank drafts. The sums that each smurf transacts is under a minimum amount that the financial institution is obliged to report to a government regulatory authority. Smurfing (or structuring) has been used to evade taxes on profits earned and being remitted out of a jurisdiction, or to mask transactions of an illicit nature (including drug smuggling and terrorism).