A more thorough explanation:

Definition: A smurf is a person who helps launder money by making multiple transactions of less than $10,000 at different banks to avoid federal reporting requirements. The term comes from a cartoon character from the 1980s.

Example: John is a smurf who helps his boss launder money by making small transactions at different banks. He does this to avoid detection by the authorities.

Explanation: In this example, John is participating in a money-laundering operation by making transactions of less than $10,000 at different banks. By doing this, he is helping his boss avoid detection by the authorities. This is a common tactic used by criminals to launder money and avoid getting caught.