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Three things to know about money laundering charges

On Behalf of | May 27, 2021 | Criminal Defense |

Hollywood has embraced storylines about organized crime and the white-collar charges that often follow the arrests of mobsters. However, Georgia residents should know that charges like fraud and identity theft can be lodged against anyone who is suspected of committing these financial infractions. For example, the crime of money laundering is a serious offense that can result in federal charges being pursued against an individual with serious penalties at stake if they are convicted.

This post will offer readers some information on money laundering and how it may impact the lives of everyday people. No part of this post should be read as legal advice, though legal advice can be sought from knowledgeable criminal defense attorneys.

Fact #1: Money laundering is about concealment

At the heart of money laundering charges is the allegation that a person has attempted to conceal the origins of money. When money is attained through illegal or criminal means, it can be taken by the government. Through money laundering, an individual may attempt to illegally conceal the origins of money by channeling it through a legitimate business or enterprise.

The problem with some charges of money laundering, though, is that they misidentify the origins of some financial transactions as wrongful when they are in fact legitimate. A criminal defense lawyer can help a person’s who has been wrongfully charged with money laundering.

Fact #2: Banks may play a role in money laundering charges

Readers might be aware that when they make certain transfers of money, those transfers are flagged. High value transfers, such as those of $10,000 or more, may be identified by banks as suspicious and subject to review to ensure they are legitimate. Unfortunately, an honest person may be flagged by a bank for making a legitimate transaction and find their financial matters reviewed as possible white collar criminal activity under the law.

Fact #3: The punishments for money laundering charges are serious

There are a number of laws that can be used to charge individuals with money laundering. Each one carries its own set of requirements and possible sanctions that can be imposed upon conviction. However, an individual who has been charged and convicted with money laundering can expect to receive fines, jail time, and other punishments for their alleged acts.

Moving forward after a charge of money laundering can be difficult for an individual who does not understand the criminal justice system. There are no guarantees under the law, but those who have been charged with white collar crimes like money laundering can benefit from speaking with attorneys who understand such cases. A criminal defense lawyer can work with their client to prepare a defense strategy that meets their needs and provides them with options for overcoming their legal troubles.



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