When you engage in the white collar crime of money laundering, you are participating in a particular crime that includes disguising proceeds from financial transactions to show where the money actually came from. Every day, people are caught money laundering because law enforcement officials are constantly on the lookout for these crimes taking place. If you have been charged with money laundering, you probably know that you are facing large fines and other penalties, such as time in prison. Today we will discuss the stages of money laundering and defenses you may be able to use.
Stages of Money Laundering
Placement: This stage happens when finances hit the system to be used and be hidden. In many cases, people take the money that they got ahold of illegally and they transfer it in ways that will offer them security, even if it’s illegal. Financial officials are always looking for suspicious transactions, making this the riskiest time.
Layering: This happens when money is separated from its original source and put into different areas. This usually includes moving the money between various countries.
Integration: This, the final stage, involves getting the funds back from what looks like a reputable source, keeping it under the radar. A criminal will do anything to avoid detection in this stage of the crime.
Defenses to Money Laundering
Lack of Evidence: Perhaps the prosecutor does not have enough evidence against you to convict you of the crime. If they cannot show that you received the money illegally, then you cannot be convicted.
No Intent: Did you intend to take the money from illegal sources and then hide this information? If the prosecution can’t prove that you were aware of the source of the illegal funds, then your case won’t be successful.
Duress: Duress occurs when you have been roped into money laundering through threats. You may be able to use this as a defense.
As you can see, money laundering is extremely complicated and is always handled delicately because there are many factors to prove in these cases. Call us for more information on how we can handle your money laundering case and what it means for you, depending on the circumstances.