Money Laundering is a serious crime in the US and in the state of Florida. Certain law enforcement agencies go to great lengths to obtain information regarding organized money laundering groups and systems.
Occasionally, people can get mixed up in money laundering systems without knowing it or knowing the money’s intent. For those who have been charged with it or think they may be unintentionally involved in a similar scheme, it’s important to understand what it is and what the laws are surrounding it. For these reasons, we have laid out what money laundering is and how it works.
Statues of Money Laundering
Money Laundering is considered a federal white-collar crime; however, separate and additional state laws make legislation around what constitutes it.
Money laundering in the state of Florida generally involves one or more financial transactions that have been concealed and generated through illegal or criminal activity.
Florida legislature actually states
“It is unlawful for a person:
(a) Knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, to conduct or attempt to conduct such a financial transaction which in fact involves the proceeds of specified unlawful activity:
1. With the intent to promote the carrying on of specified unlawful activity; or
2. Knowing that the transaction is designed in whole or in part:
a. To conceal or disguise the nature, the location, the source, the ownership, or the control of”
There are many other clauses and sections relating to this in Florida’s legislature, which is linked here.
Federal money laundering generally involves the concealment of the origins of illegally obtained money. This is usually done by transferring money to a foreign country or bank.
The justice department has stated that there are three different types of federal money laundering crimes, which go as follows: “Section 1956(a) defines three types of criminal conduct: domestic money laundering transactions; international money laundering transactions; and undercover "sting" money laundering transactions."
If you have been charged with money laundering, contact Hager & Schwartz, P.A. today to get started on building a defense for your case. We may be able to help!