Money Laundering Process Overview & Defense
Money laundering is a process. This is a clever way of disguising illegally earned money. Illegal money refers to the sums obtained by blackmailing someone, or acquiring money through ransom or by any other illegal means. Hiding this money and then making it public as legitimate sum is called money laundering.
There are several stages of this criminal process. First the launderers obtain the money by illegal means. After this, the launderers place the money in some financial institution, especially bank. This way the money gets into authorized cycle. They do not put the whole amount in one account. They break the sum and create several small bank accounts and place the money in different accounts. When this is done successfully, they proceed to the next stage. In this level, the launderers create distance between the source and the money. They send the money to off shore accounts. After a certain time they bring the money back to the previous source and make it appear legitimate.
As this is a federal offense, you may end up in jail for a long time if incriminated for committing this. You should seek immediate help from an experienced white collar crime attorney. He/she will help you gather evidence and prepare a solid defense lineup for you.
Categories: Criminal