Money lost in strike location (4)
I believe the answer is:
site
'location' is the definition.
(site is a kind of location)
I don't understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for site that I've seen before include "Position for the building sounds visual" , "Building plot" , "Locate, position" , "Situation (of a building)" , "internet location" .)