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1 definition by nathan christiansen

 
1.
In banking, smurfing refers to splitting of a large financial transaction into multiple smaller transactions, each of which is below a minimum limit (such as $10,000) above which banks must report any financial transaction, precisely for the purpose of evading scrutiny by regulators or law enforcement. Someone who smurfs is a smurf in this context. Usualy hired by drug runners and usualy more than one to move an large amount of cash to launder it.
How are you going to launder all that money, Don't worry I have alot of smurfs.
by nathan christiansen August 08, 2006