Blog

Demystifying: What Type of Crime is Money Laundering?

If you’re asking “What type of crime is money laundering?” it’s probably time to talk to a lawyer

When the term “money laundering” comes to mind, you might think of scandals at big financial institutions like Wachovia (now owned by Wells Fargo). In 2010 it came to light that Wachovia laundered $380 billion in drug cartel money — making it the largest money laundering case of all time. With that in mind, you might wonder, “What type of crime is money laundering, anyway? Isn’t it just for the big banks?” Individuals are also susceptible to money laundering charges. Even if you never possess illegal funds, there are still serious consequences to facilitating the movement and/or concealment of those funds.

Time is of the essence when mounting a strong defense. Do not hesitate to contact the Law Offices of Keren Goldenberg to schedule a free consultation online or by phone: 978-221-2503 (Lowell), or 617-431-2701 (Belmont). 

A couple of important terms

The answer to “What kind of crime is money laundering?” requires much more space than this article can provide. If you have been accused of money laundering, or are concerned that you might be — it’s time to call on a criminal defense lawyer who can talk you through the intricacies of the law and how it may relate to you. Don’t take a chance on your freedom. Underprepared defendants risk hefty fines and prison sentences of up to 20 years. You want attorney Keren Goldenberg on your side. She has experience in both state and federal courts, as well as a long history of positive client results to show for it.

But first things first, your question: “What type of crime is money laundering?” In short, money laundering is when “dirty” wealth is “laundered” or cleaned. Said another way, it’s when criminally acquired money or other monetary instrument(s)* are knowingly transacted or concealed in order to make them appear legitimate.

Anyone who knowingly takes part in the concealment, promotion, or facilitation of criminal transactions is susceptible to charges. Chargeable offenses include, but are not limited to: directing, organizing, planning, management of, supervision or control over transportation of, or transaction of any criminally acquired monetary instrument. (MA GL c. 267A, § 2)

You began with the question, “What type of crime is money laundering?” but now you’re likely asking, “What is a monetary instrument*?” As defined by Massachusetts state law, a monetary instrument includes, “U.S. and foreign currency, gemstones (i.e. diamonds, emeralds, etc.), stocks, checks, credit/debit cards, gift certificates/cards, chips and vouchers exchangeable for cash at casinos.”

What type of crime is money laundering? Attorney Goldenberg can clarify

The meaning of the Massachusetts money laundering law can be hidden under layers of legal jargon. To be best prepared, it’s important to seek out the expert counsel of defense attorney Keren Goldenberg. She can explain the law in terms you can understand, and advise you of any available defenses. 

To get a well-rounded answer to your question, “What type of crime is money laundering?,” contact the Law Offices of Keren Goldenberg online or call 978-221-2503 (Lowell), or 617-431-2701 (Belmont). 

 

The Law Offices of Keren Goldenberg

97 Central St. #403

Lowell, MA 01852

978-221-2503

The Law Offices of Keren Goldenberg

19A Alexander Ave.

Belmont, MA 02478

617-431-2701

 

With Offices in Lowell and Belmont • Call Us Now!(978) 221-2503