When it comes to white collar crimes, such as money laundering, most people think they will never be caught. Taking this one step further, since they aren't committing a violent crime, these people often believe that the punishment is minor.
Money laundering is a serious crime that can be punished in many ways, including a long-term prison sentence. There are many types of money laundering schemes, all of which authorities are aware of.
For example, many people turn to offshore banks in an attempt to hide their money laundering scheme. This is also one of the top strategies for tax evasion, as people attempt to hide money overseas so that they don't have to pay taxes.
However, there's something you should always remember: Regardless of the steps you take and the strategy you use, money laundering always leaves some type of paper trail. It may not be obvious to you, but it does exist.
In some cases, due to the fact that it can be difficult to trace a paper trail, it takes many years for authorities to charge someone with money laundering. However, if they finally put all the pieces together, the end result can be a serious criminal charge.
With money laundering remaining a major problem, there are times when authorities charge somebody with this crime despite the fact that they are innocent.
If you find yourself charged with money laundering, you should review your past financial activity as it relates to the charge. From there, you can decide how to best move forward with your defense strategy.
Source: Equities.com, "The Hows and Whys of Money Laundering," Eileen Meng Lu, accessed Nov. 07, 2016