Individuals who are involved in the drug trade will sometimes need to make the money they make look legitimate. To do this, they “launder” the money. There are many methods that might be used to do it, but doing it successfully isn’t always that simple. The evidence left behind during the process will get a person caught by the authorities.
Many money laundering schemes are broken up by federal authorities. The Federal Bureau of Investigation has task forces and other assets that it can use to try to unearth these cases and bring them to trial.
Financial institutions are at the heart of these efforts. They must report transactions that meet certain requirements to the authorities. This includes any single transaction that totals more than $10,000. To try to slip under the radar, some individuals make smaller transactions that won’t have to go through the reporting process.
That isn’t always a way out of having to go through the reporting process. These institutions are also required to report suspicious transactions, so they might report a person based on them having several smaller deposits that total over $10,000 in a short period of time.
If you’re facing money laundering charges stemming from drug transactions or any other questionable source, you might feel as though you’re facing an uphill battle. Your criminal defense attorney can help you to find ways that you can combat those charges so that you’re able to minimize the penalties you face or possibly work toward a not guilty finding. Think carefully about the options so that you can do what you feel is in your best interests.