People who are involved in illegal activities will sometimes need to make their profits appear to have come from a legitimate source. This is done through money laundering, which is a criminal activity. There are various different manners of “cleaning” money, but none of them are legal.
One goal of money laundering is to be able to put the money in a bank. Laws provide stipulations for banks that note they can’t put any money into an account if it didn’t come from a legitimate source. Yet, it isn’t safe for them to carry around massive amounts of cash, so they need to clean the money to make these financial transactions.
Money laundering by usually involves putting the money into the financial system, concealing the source of the money and then withdrawing it to use. This is sometimes done by putting the money into a business owned by a criminal enterprise. This could be a restaurant, nightclub or any other business. They may use a cash receipt system that makes it appear as though the illegal money was made legally through the business. This is done by using some bookkeeping deception.
There are other forms of money laundering that can occur. The key to the charge is that the actions have to be purposeful and must involve trying to make illegally earned money appear to have been legally obtained.
People who are accused of money laundering are facing a very serious criminal charge. They must take the time to think about their defense very carefully so that they can determine how to address the charges. Because money laundering charges might come with a lengthy paper trail, you should leave ample time to develop your defense.
