What happens if you are charged with money laundering

Defending you against those charges takes special skill and knowledge of U. Do NOT discuss the case with anyone but your attorney. Remember: anything you say can and will be used against you in a court of law.

Gather any and all evidence you can to refute the charges. This includes financial records, bank statements, and any other pertinent documents. Gathering and organizing this information helps your attorney build a solid defense case. In many cases, criminal organizations use international trade systems and complex documentation to shift wealth globally — in what otherwise would be legitimate commerce transactions. Because of the connection to other crimes, money laundering can involve a variety of complex laws , according to the IRS.

The FBI also lists the primary federal statutes relating to money laundering. The basic offense of money laundering at the federal level falls under U. The law includes three parts relating to:. The penalty also can include imprisonment up to 20 years. The third section calls for a penalty of imprisonment for as long as 20 years, a fine of an undetermined amount, or both.

The civil penalty can be levied in addition to any criminal penalty. In Pennsylvania, money laundering is prosecuted as a first-degree felony. In addition, a convicted individual can be sentenced to as long as 20 years in prison. Money laundering is an extremely serious crime that can result in large fines and long prison sentences.

Learn more about our federal fraud defense services by calling our Pittsburgh office at or by sending our legal team an email. We can discuss your charges and your options for moving forward during your free initial consultation. Nov 5, Money laundering. Using a chain of financial transactions in order to give illegally obtained money the illusion of legitimacy is a serious criminal offence with potentially grave consequences.

Those found guilty of money launderin g charges absolutely do face prison sentences in the most serious cases. Money laundering represents an enormous cost to the UK economy each year. As well as the massive blow to the economy, money laundering is an enabler of many other crimes that cause untold human suffering including modern slavery, drug trafficking and terrorism.

In short, the easier it is to launder money, the more crime pays. As a result, the UK has some of the strictest money laundering regulations in the world, with severe penalties for those who break the law. As this lost revenue is money the government cannot afford to lose, the National Crime Agency is under huge pressure to catch and punish the perpetrators of money laundering.

Money laundering is covered in the Proceeds of Crime Act , a powerful piece of legislation designed to deter, punish and retrieve funds from those who seek to profit from crime in various ways including money laundering. It is also prosecuted under the Money Laundering Regulations The Crown Prosecution Service generally prosecutes money laundering cases, although if the case is linked to serious fraud or corruption, the Serious Fraud Office SFO may lead the investigation and any subsequent prosecution.

However, it is important to realise that in the fight against money laundering, the authorities rely on certain professionals to play their part in combatting money laundering and a failure to do so can result in prosecution, even if the enabling of financial crime happens by mistake. Ignorance and error are not deemed to be valid excuses by the authorities.

Professions legally required to keep up to date with money laundering legislation and report any suspicious activity by submitting a Suspicious Activity Report SAR to the National Crime Agency include:.

If you are found guilty of money laundering in the Crown Court, the maximum prison sentence that can be imposed is 14 years. All offences are graded A, B or C according to severity, however, the minimum level of severity for money laundering offences is B — Medium Culpability. These serious crimes can involve the maximum prison sentence of 14 years. When it comes to financial institutions, fines can reach enormous levels. No matter the scale or circumstances of the alleged offence, every money laundering case is unique.

Money laundering convictions typically result in fines, prison, probation, or a combination of penalties. Money laundering charges are very serious, and a conviction can ruin your life. If you're charged with money laundering you need to speak to a local criminal defense attorney who can review your case, evaluate your options, and give you advice. Federal and state money laundering laws also have significant differences in what they requires and what penalties apply, so you need an attorney who knows the difference to provide you with legal advice.

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