1 definition by nathan christiansen
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.
by nathan christiansen August 8, 2006