Money Laundering

Money laundering is considered a serious offense in the United States. Individuals who are charged with this crime are liable to be sentenced to many years in prison. In 2001, there were over 900 people charged and convicted for committing this act, and they spent an average time of six years apiece in prison.

Typically, money laundering is defined as the act of claiming that money collected from an illegitimate source is actually obtained by legal means. This is a necessary act for individuals engaged in criminal activities that bring in some sort of profit if he or she does not want the money to be taken away. Should the individual use the illicit profits without first disguising them, then the money would tie them to the criminal activity and he or she would be convicted of the crime.

Anti-Money Laundering

Anti-money laundering (AML) refers to a set of laws and procedures put in place to prevent people from obtaining money through illegal activities. These laws target individuals attempting to hide the original source of their earnings. For example, one particular AML law requires that credit institutions go through a number of due-diligence processes in order to ensure that they are not engaging in any money laundering activities.

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Individuals charged with money laundering face heavy punishment by law. If you have been charged with money laundering, the Milwaukee criminal defense lawyers Kohler & Hart, LLP can help you. Please contact us at 888-565-7579 to set up an appointment today.