Money Laundering

What is Money Laundering?

Money laundering is the illegal process of concealing the origins of money obtained through criminal activities such as drug trafficking, fraud, corruption, or embezzlement. The goal is to make "dirty money" appear legitimate by passing it through complex financial transactions or businesses so that it can be used or invested without detection.

The process typically involves three stages: placement (introducing illicit funds into the financial system), layering (disguising the source through complex transactions), and integration (reintroducing the cleaned money into the economy as legitimate funds).

Georgia and Federal Laws on Money Laundering

Both Georgia and federal governments prosecute money laundering vigorously. Under federal law, specifically 18 U.S.C. § 1956 and § 1957, it is illegal to conduct or attempt financial transactions involving proceeds from unlawful activity, knowing that the money is the result of crimes. The statutes cover actions meant to conceal the nature, source, or ownership of illicit funds or those intended to promote unlawful activity.

Georgia law similarly criminalizes money laundering, prohibiting transactions involving illicit proceeds with the intent to disguise their illegal origin or to further criminal conduct. State penalties complement federal laws and apply to cases occurring within Georgia that may not reach federal jurisdiction.

Penalties and Sentences

Money laundering charges carry severe penalties at both the state and federal levels. Federal convictions can lead to up to 20 years imprisonment, significant fines, forfeiture of assets, and restitution orders. Sentences depend on factors such as the amount of money involved, the sophistication of the laundering scheme, and associated crimes.

Georgia state penalties can include lengthy prison terms and hefty fines, reflecting the state's commitment to combatting financial crimes. Convictions may also lead to probation, community service, and long-term legal consequences influencing personal and professional life.

Because money laundering investigations and prosecutions are complex, anyone facing such charges should seek experienced legal counsel to protect their rights and build an effective defense.