Money Laundering Charges and Penalties

Money laundering is classified as a white collar crime that involves money obtained from illegal activity. It is a relatively new crime, only listed as an offense in 1986 after Congress passed the Comprehensive Crime Control Act. Initiated as a federal offense, all 50 states now include a similar charge for laundering money. However, because it is often part of a greater circle of criminal activity, those involved in money laundering frequently find themselves facing severe federal charges.

Charges for Money Laundering

When most people think of money laundering, they think of "dirty" money being invested or used to buy property so that it is made "clean". To be charged with money laundering, it is not actually necessary for the money to be converted into a different form through investing or buying something. Laundering simply refers to the act of receiving or transferring money obtained from illegal activity. By accepting money that was earned through criminal activity, a person may be charged with laundering money.

Examples of Laundering

Because laundering is defined as receiving or transferring money from illegal activity, the charges are usually combined with other criminal charges. Some examples of associated criminal activities include:

Extortion, blackmail, or bribery

Financial or medical fraud

Trafficking of people or illegal goods (drugs, contraband)

Money obtained as a ransom

Any illegal activity that results in a payment may include money laundering. In itself, laundering is a serious charge with severe penalties. Combined with other charges, a defendant may find himself or herself spending many years in prison if convicted.

Laundering Penalties

Under Florida law, the severity of the charge and penalties for laundering depend upon the amount of money laundered in a given year. The charges and penalties are broken down as follows:

For any laundering offense, the court may also order a civil penalty of $25,000 or the value of the laundered money, whichever is greater. Clearly even a single laundering charge can have a severe impact on your personal freedoms and future life. If you have been charged with money laundering, don't hesitate to contact a criminal defense attorney immediately to begin preparing your defense.

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