Money Laundering Cases And Investigations
A common misconception is that money laundering only refers to drug related cases. Many cases and investigations under the umbrella of money laundering relate to non-drug illegal acts, and our law firm can help you will all types of Money Laundering cases.
- What Is Considered Money Laundering Under The Law?
- What Type Of Evidence Is Required In A Money Laundering Case?
Money laundering is a serious crime. It is the act of using legal means such as banking transactions or corporate transactions to redirect and cover up money attained from illegal activities. The process of money laundering can be extremely complex. An individual or organization involved with this type of scheme usually employs various channels to “wash” or “clean” the money gained from illegal activity with the purpose to use legitimately. Laundering money loses the trail of origin, making it possible to cover or hide the underlining crime. Some money laundering schemes are so elaborate that innocent people could be caught in between and may not even be aware of any illegitimacy. It is not always the case, but it happens. If you are caught in the middle of an illegal money-laundering operation, you’ll want to contact a skilled money laundering lawyer in Miami. A qualified money laundering lawyer in Miami can help evaluate your options and aggressively defend your case.
Though the most common, drug-related activity is not the only type of crime that employs money laundering tactics to process illegal transactions. Money laundering charges can apply to terrorist activity, illegal gambling, tax evasion, fraud, contraband smuggling, human trafficking, extortion, and prostitution. Cash is usually the primary source of transaction used because it is anonymous, interchangeable, and easily transportable. According to the FBI, money laundering involves three steps, which include placing illicit proceed into the financial system, the separation of the criminal proceeds from their origin, and the use of apparent legitimate transactions to disguise the illegal proceeds. It becomes highly difficult to trace the money once it has entered the financial system.
If an individual is found under investigation for money laundering and charged, they can be prosecuted by the state or federal government. Prosecution by the state or federal government will depend on the severity of the crime and charges. The laws regarding money laundering are complex and stringent. A conviction for money laundering carries serious penalties and ramifications that can ruin your life. If you require legal defense, you’ll want to enlist an experienced money laundering lawyer in Miami right away. A seasoned fraud attorney in Miami, Florida will know precisely how to proceed with your case while protecting your rights.
Under Florida law, money laundering is most often charged as a felony. The charges for money laundering depend on the amount of money laundered in a year. For instance, if the money laundered in a year is between $300 to $20,000, a person could face up to five years in prison with a third-degree felony charge. If the amount of money laundered is between $20,000 to $100,000, a conviction can result in a sentence of up to 15 years in prison with a second-degree felony charge. Any amount over $100,000 is a first-degree felony charge with a sentence of up to 30 years in prison. The penalties for money laundering are severe, and it is wise to seek the expertise of a knowledgeable money laundering lawyer in Miami if you’re facing fraud or money laundering charges.
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