When criminal entities make money using illegal means, they often try to find ways to make that money seem like legitimate earnings. This often involves the complicated process of money laundering. Money laundering typically involves numerous people working within an organized system to “clean” the money so it does not raise the suspicion of authorities.
If you are under investigation for money laundering or similar crimes, it is wise assume that police and potentially federal agents are already well into their investigation. They may also have significant evidence against you. Additionally, if the charges you are facing are at the federal level, the penalties for a conviction can be harsh and unbending.
The crime of money laundering
Authorities who suspect you of money laundering probably also suspect that you are involved in other types of criminal activity. Money laundering often means one has obtained significant cash that he or she cannot deposit into financial institutions, which are required by law to report deposits greater than $10,000. If you are experiencing other legal issues, such as allegations of tax evasion, embezzlement or drug trafficking, authorities might look into the possibility that you are also laundering money.
There are numerous ways to launder money, and investigators will trace the source of any money that goes in or out of bank accounts or legal businesses in which you may be involved. After placing illegally obtained money into a legitimate operation, money laundering then requires moving the cash through complicated investments and transactions to cloud its original source. Advances in technology also allow for the use of cryptocurrency, online gaming and internet auctions in money laundering operations, and investigations generally consider these possibilities.
What does your future hold?
If the state of Florida has charged you, you may be facing heavy penalties for a conviction, depending on the circumstances of the case. If the charges against you are at the federal level, you are dealing with tougher laws, stricter penalties and mandatory minimum sentences that leave the courts with little room for a judge’s discretion.
Because of the extreme complexity of many money laundering operations, investigators have developed sophisticated methods of gathering evidence. If you are facing these charges, you can be certain police and federal investigators already have strong evidence against you. Still, they must prove their case in court, and you will have the opportunity to defend yourself by connecting your income to sources that are legitimate.