I understood the term "money laundering" to be moving cash through several accounts and names to conceal its source and destination. If I take cash out of my own account under my own name for illegal purposes, I can certainly be busted for whatever I used the cash for, but how the hell am I "laundering" the money? The source is on record, the withdrawal is on record, and all of it is subject to subpoena I assume, so it's not like I'm actually hiding it.

Keeping withdrawals below the legal reporting limit may hide one's activities for a while, and perhaps that would be illegal under some rule (what isn't), but it isn't "laundering."