Pennsylvania residents or companies may be charged with the federal crime of money laundering if they conceal or disguise funds that were obtained through criminal activities. It is rarely the only charge, as money laundering accompanies other crimes. Without financial proceeds from criminal activities, there can’t be money laundering.
Because it involves hidden or disguised money, the crimes that are combined with money laundering are typically financial crimes. Bank fraud, health care fraud and Ponzi schemes are some of the crimes that often accompany money laundering. A person who is accused of trafficking drugs or participating in organized crime may also be accused of money laundering. Some of the federal statutes that address money laundering concern international bulk cash smuggling, financing of terrorism and unlicensed money transmitting businesses.
There are many different ways that a person or organization could launder money. An individual may conceal funds that were obtained through criminal activities by hiding cash or purchasing a lot of valuable goods. A company could use fraud to disguise funds that were obtained through criminal activities to look like profits earned from a legitimate business. International bank accounts or international transfers are sometimes used to hide money that was obtained through criminal activities.
A person charged with money laundering could argue for dismissal if there is little proof that the money in question was obtained illegally. White collar crimes typically require an extensive investigation that may begin before charges can be filed. People who are being investigated for these types of financial crimes may want to have representation from a criminal defense attorney as soon as they are made aware that they are a target.