For those unaware, money laundering is a crime categorized as a federal white-collar offense involving the process of disguising the proceeds of illegal activity as legitimate money and involving individuals in multiple states or countries. Money laundering is taken very seriously by law enforcement authorities and can carry severe criminal penalties like fines, significant prison time, and asset forfeiture. If you have been charged with money laundering, immediately contact a criminal defense attorney to fight these charges.
Everything You Need to Know About Federal Money Laundering
When it comes to federal money laundering, the core elements of the offense involve using the financial system to conceal the illegal source of funds. Specifically, federal money laundering often consists of a series of transactions designed to make it appear that funds are from a legitimate source when in reality, the funds come from criminal activities such as drug trafficking, fraud, or other illegal activity.
Federal money laundering can involve a wide variety of financial transactions, including structuring transactions in a way that avoids triggering financial reporting requirements, using financial institutions in different jurisdictions to transfer funds, buying and selling high-value items such as real estate or jewelry with illegal proceeds, and using cash to buy assets or to fund businesses, and more.
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