We recently discussed how money laundering and drug crimes go hand-in-hand. Even though this is one area that often intersects, it is far from the only situation in which a person can be accused of money laundering. Anyone who is earning money from an illegal method can face this type of charge.
When you’re facing money laundering charges, you might be looking at considerable time behind bars. Fines and restitution might also be possible. Because of this, you need to ensure that you’re reviewing all the options that you have for your defense.
There are many facets of your financial life that the authorities might review if they suspect you’re money laundering. For example, they may look into your income if you have a minimum wage job but drive a new custom luxury vehicle.
In some cases, embezzlement is also present. This might be the case if a secretary is misusing company assets without permission. Making that money look like it was legally obtained is a priority, so they will try to route it through legal means.
One way that some individuals are caught is because of the Bank Secrecy At. This requires any cash transaction over $10,000 to be reported to the Department of Treasury. Banks also have to report suspicious transactions. Other laws are also present that make it more difficult for a person to get away with money laundering.
Accusations of money laundering are sometimes made even when there isn’t anything illegal going on. Even in these cases, you have to take them seriously and plan your defense carefully.
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