What is money laundering?

The purist idea of money laundering is somebody is doing something illegal: for example, let’s say someone is selling drugs illegally and they’re getting money and so they can’t put the money in the bank because the money was made illegally. So then, let’s say the person opens a car wash and filters the money through the car wash so that it looks like people came in and got their cars washed. That way the money can be placed in the bank, and it looks like it’s from a proper, legal source.

In reality, the money laundering statutes and laws are so broad and so vague that oftentimes people are charged with money laundering when they really did not do anything nearly that elaborate. It’s just that the government claimed that the money was not made lawfully or wasn’t taxed properly, or it was placed in one account and transferred to another. So, “money laundering” is something that is probably, to some extent, overused, but certainly it’s a very serious offense and sometimes people are charged with it who maybe, at first glance, you wouldn’t think that would be money laundering. It’s a serious crime, and something that, if someone is investigating you for money laundering, you certainly need to take that seriously and seek to get a lawyer as soon as possible.

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Видео What is money laundering? канала Greg McCollum Complete Legal Defense Team