Despite a lack of violence in most financial crimes cases, the penalties for these types of criminal activities can result in extensive prison sentences and other serious consequences. Money laundering is a type of financial crime that involves taking ill-gotten money and putting it through a process that makes it appear legitimate. These types of crimes are remarkably difficult to investigate and prosecute due to the complex nature of most money laundering operations.
Money laundering is often associated with street-level criminal operations, but also with complex white-collar crime endeavors as well. If you are under investigation for money laundering in California or another type of white-collar crime, it is important that you understand what you are up against. An understanding of the allegations against you can provide insight into the best approach for your defense.
Details of the criminal process
A simple definition of money laundering is making illegitimate funds legitimate through a series of processes to obscure the money’s origin. This allows the alleged criminal to deposit the money in accounts and use the money in normal ways. The steps of the money laundering process include:
- Placement — These are the steps required in order to take “dirty” money and place it in a legitimate financial institution.
- Layering — This is the series of transactions used to conceal the source of the money and make its origin difficult to identify.
- Integration — This is when one removes money placed in legitimate financial institutions and uses it for additional criminal activities.
Each money laundering case is different, and the steps used to conceal money can be complex and difficult to identify. There are different types and variants of money laundering, which can include investing in gold and other commodities, buying and selling real estate, counterfeiting, casino operations and the use of shell companies. The internet also offers other options for money laundering.
Fighting these allegations
If you are facing allegations of money laundering, you will benefit from seeking immediate guidance regarding the defense options available to you. These are serious charges, and your entire future, reputation and long-term opportunities are at stake. An assessment of the specific situation can help you understand how to move forward and what steps you can take to protect your rights and interests.