PLEASE NOTE: To protect your safety in response to the threats of Covid-19, we are offering our clients the ability to meet with us in-person, via telephone, or through video conferencing. Please call our office to discuss your options.

Tampa 813-345-4909 | En Español 813-390-2494
Orlando / Miami / West Palm Beach - 888-496-5916

How money is laundered

Money laundering is the action of making dirty money appear as if it has come from a legitimate source. To engage in money laundering, an individual or organization in Florida will take cash earned from an illegal activity and layer it. This is the process of using accounting tricks to conceal the source of the funds. When layering is complete, it will look as if a criminal entity has obtained money legally.

In some cases, money will be laundered through the use of wire transfers or currency exchanges. It can also be done by having someone physically smuggle the illicit cash into another country to take advantage of looser banking laws. Some criminal entities will create front organizations to funnel money into a bank. For example, the organization will filter money through a restaurant before it goes into a legitimate account with a financial institute.

However, banks do have the power to flag any transaction that seems to be suspicious in nature. As technology evolves, money laundering may take place using digital currencies as they offer a higher level of anonymity. Other methods of transferring illicit funds online include running gambling websites and engaging in online auctions. Money can also be laundered via the purchase and sale of real estate, gems and collectibles.

Individuals who are charged with money laundering or other types of fraud could spend years in prison. They may also be required to pay restitution or fines as part of a sentence. However, legal counsel might assert that an individual was engaging in legitimate business transactions when taken into custody. A lawyer may also assert that a client was compelled to commit illegal acts under the threat of harm. This could be enough to obtain a favorable outcome in a fraud case.

No Comments

Leave a comment
Comment Information
Mark J. O'Brien's cases have been featured in:
The New York Times | The Miami Herald | Bay News 9 | abc 7 | The Boston Globe | USA Today | Tampa Bay Times | FOX News Channel | The Washington Post | abc Good Morning America | Chicago Tribune | NT News Talk Florida | St. Petersburg Times | Deadspin
“Mark, thank you for everything. I will forever be indebted to you. You have stood by me and believed in me when it was not the popular thing to do. You are an amazing advocate.” Adam Filthaut
  • Former Partner at the Law Firm of Adams and Diaco (Robert Adams and Stephen Diaco)
  • MJ (Todd Schnitt) Morning Show/Bubba the Love Sponge Clem Trial
  • Attorney Phil Campbell DUI Setup/Florida Bar Trial
More Testimonials
American Association for Justice National Association of Criminal Defense Lawyers | NACDL 1958 Florida Association of Criminal Defense Lawyers | FACDL Super Lawyers AVVO | See Reviews LC | Lead Counsel Rated
Best Criminal
Defense Lawyers
in Orlando