Money laundering, like other white collar crimes, is currently on the rise in America. As a result, courts are cracking down on criminals who commit these crimes, with severer consequences and less leniency. But what exactly is a white collar crime and, more specifically, money laundering? And what do you need to know so you can make sure your rights are protected?

In this article, our team of talented criminal lawyers will walk you through the most important things to consider when it comes to money laundering: what it is, the consequences, and how you can protect yourself.

Let’s start by looking at the white collar crime category as a whole.

White Collar Crime – What Is It Exactly?

The FBI termed the coin “white collar crime” in the late 1930s, which can be used to describe frauds committed by professional in business and government positions. Typically, white collar crimes are committed with the intention of gaining money using a variety of illegal and uncouth methods. These crimes are typically non-violent and, instead, are conducted in order to manipulate organizations and individuals for money.

More well-known examples of white collar crimes include things like identity theft, corruption of public officials, and money laundering. How are these separate from blue collar crimes? Breaking these two crime categories down to their simplest forms, the difference between “white” collar and “blue” collar is the consideration of the access an induvial has (or does not have) to the resources needed in order to commit the crime in question. Blue collar crimes are often more “straight-forward”; things like robbery, for example. On the other hand, white collar crimes are often more position-based in order to commit fraud (e.g. an employee who works at a bank and decides to rob it).

Unfortunately, the list of white collar crimes people have committed is a long one, and it’s still growing as country and people continue to expand and evolve. Due to the complex nature of these crimes, U.S. state and federal organizations who are responsible for investigating them must come up with more and more creative methods of investigation.

But even with these investigative agencies in place, white collar crimes have extreme financial and economic consequences, costing the nation approximately $300 billion dollars every year. For this reason, corporate white collar crimes continue to be a high priority for federal investigators.

Money Laundering and Arizona Law

So now that you have a better understanding of white collar crimes in general, it’s time to take a closer look at money laundering starting with: what is it?

Money laundering is the intentional act (by an individual or company) of concealing illegal/illegally obtained money by transferring it through various accounts or making significant commercial purchases in order to conceal its origins.

One of the reasons money laundering is such a dangerous and damaging crime is that it involves significant amounts of money. In the Arizona case USA v. Monarque-Orozco, for example, more than $10 million was transferred through an Arizona bank as part of a concealment method for illegal drug money. The transactions were made through more than 80 fraudulent bank accounts, which was made possible by a corrupted bank official.

An area that has experienced a significant amount of money laundering in the past is the southern border between the United States and Mexico. As a result, the state of Arizona’s Attorney General and Western Union Financial Services created an agency called the Southwest Border Anti-Money Laundering Alliance. This alliance is dedicated to investigating and prosecuting money launderers in the region. Both parties agreed to this alliance in the hopes that with the decrease in money laundering, there will also be a significant decrease in cross-border violence.

Money laundering can be closely related to other serious crimes such as drug and weapons trafficking, and by investigating and disrupting the money laundering, there is also an expectation that this should disrupt the movement of these illegal products and the networks of criminals who create, transport, and distribute them.

Participating law enforcement and members of the legal justice system are specially trained to recognize, investigate, and prosecute money laundering in order to help continue these efforts.

Arizona Penalties for Money Laundering

Many white collar crimes, money laundering included, can be prosecuted at a federal level. This means more severe charges, fines, and jail time. Depending upon the severity of crime (including the amount of money that was illegal laundered), guilty parties can be charged with one of three tiers: 1st Degree Money Laundering, 2nd Degree Money Laundering, or 3rd Degree Money Laundering.

An individual charged with 1st Degree Money Laundering faces a Class 2 felony and up to 12 ½ years in prison (as a first-time offender) with a fine of three times the amount involved in the crime. 2nd Degree offenses equate to a Class 3 felony and 8.75 years in prison, also with a fine of three times the amount involved. Finally, a 3rd Degree crime is considered a Class 6 felony with prison sentencing of up to 6 years in prison and a fine of $2,000 or three times the amount of money involved in the crime – whichever amount is higher.

Possible Defenses Against Money Laundering Charges

If you have been arrested and charged with money laundering, it is crucial that you contact a criminal, white collar lawyer. Specifically, someone experienced in the laws surrounding money laundering.

White collar crime is a specific area of practice, so you’ll want someone who knows these laws and practices inside and out. Your lawyer will help educated you on your rights and assist you in coming up with a defense strategy that fits the circumstances of your particular case.

When it comes to building your defense, your lawyer may suggest a number of options depending upon your situation. These defenses could include arguing duress (if you were forced to commit the crime by another party), lack of intent, illegal search (meaning the police did not have a valid warrant to search your belongings or records), or entrapment.

While these defenses have worked for cases in the past, it’s important to recognize that pleading “not guilty” due to one of these defenses could negatively impact your case if not argued properly. It’s possible – and has occurred on multiple occasions – that juries may be swayed against a defendant should they believe the defendant to be untrustworthy.

What Are My Next Steps?

We can’t reiterate it enough: if you’ve been charged with money laundering, contact a lawyer immediately. Do not wait. Ensure your rights are protected from the very beginning.

If you believe you may have evidence of money laundering, you need to report it to the police right away. Failure to do so can make you an accessory to the crime and may lead to charges and/or fines depending upon the severity.

Have questions and need guidance? Our team of lawyers is happy to help you out. Reach out to schedule a consultation and we’ll walk you through the options available to you.