Money laundering is a serious white-collar crime. Being convicted of it can attract hefty fines and imprisonment. So, when can one be charged with this crime?
Here is when you may face charges concerning money laundering:
Financial transactions related to criminal activity
Money laundering is the process of concealing the true origins of money that was obtained through illegal activity, such as arms dealings, drug trafficking or other highly profitable (but forbidden) enterprises.
Money laundering is done in a variety of ways, including online money transfers, real estate investments, peer-to-peer payments, phony auctions, scams involving alleged art sales and gaming. Anything that involves hiding the true origins of money so that it can then be turned around and used for legitimate purchases and investments counts as money laundering. There are generally many people involved in the process, so you’re likely to be charged as part of a whole group.
Can you defend yourself when charged?
You can defend yourself when charged with money laundering. Firstly, not knowing that you were being used in a money laundering scheme can be a valid defense. It’s not uncommon for people to unknowingly perform transactions linked to larger money laundering schemes. If you show that you lacked knowledge, you can avoid a conviction.
If you are charged with money laundering, consider legal guidance to learn more about the seriousness of your case and the best way to defend yourself. Money laundering cases are always complicated, and the evidence can be difficult to wade through. That often leaves room for numerous legal challenges as part of your defense options.