Money Laundering

As of today, money laundering is a term used to describe the practice of depositing or transferring money obtained from illegal sources (of any type).

The money involved can be derived from any criminal acts including corruption, drug dealing, trafficking, fraud, etc. Yet in the past, money laundering was the practice of concealing and legitimizing money earned by gambling, prostitution, and drug sale.

Many authorities quote estimates each year for the amount of money laundered, either worldwide or within their national economy. In 1996 the International Monetary Fund estimated that two to five percent of the worldwide global economy involved laundered money. However, the FATF, an intergovernmental body set up to combat money laundering, admitted that it is absolutely impossible to produce a reliable estimate of the amount of money laundered and therefore the FATF does not publish any figures in this regard.

Today’s prosecutors will bring money laundering charges against anyone associated with the transfer or deposit of money that descends from illegal sources of any kind.

Additionally, prosecutors seek forfeiture of assets that they claim were acquired through money laundering. Attorney Richard Alamia can defend you hostilely against this.

Some of the evidence that can be proven as money laundering is wire transfers, money orders, or cashier checks in large amounts, loan, purchase, or lease transactions indicating the transfer of cash obtained from unlawful sources, credit card services used in connection with unlawful activities, or misrepresentation of financial data, tax returns, periodic reports, and loan applications.

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