Louisiana Money Laundering Attorney

Money Laundering Laws in Louisiana

Louisiana law defines money laundering as a transaction involving money from criminal activity. This definition is broad and covers a large spectrum of schemes that have the sole purpose of “cleaning” money to appear legitimate via what appears as innocent business dealings.  The state government also charges persons who aid or oversee these transactions with money laundering regardless of whether they had any part in the activity itself.

Louisiana Revised Statute 14:230 defines money laundering as:

• The conducting, supervision, and/or facilitation of financial transactions involving monies derived from criminal activities
• Trading in any way monetary proceeds from crime
• Participating in the transportation or transferring of funds originating from criminal activities
• Benefiting from proceeds created by the intentional transacting of funds generated from criminal activity. 
• Acquiring or maintaining an interest in, receiving, concealing, possessing, transferring, or transporting the proceeds of illegal activity.
• Using monies deriving from criminal transactions to conduct further investment, spending or receiving of said money, or offering to do these things.  

For those accused of this crime, the impacts will bring devastating consequences to their lives. Consulting with an attorney at the first signs of an investigation into money laundering activities is the wisest choice a person can make to help in defending against suspicion. This will help to reduce instances of salacious news stories that could damage your reputation, job, and future in your community while protecting your rights throughout the investigation and criminal trial process. 

State and Federal Preventative Measures Against Money Laundering

The Bank Secrecy Act of 1970 requires all financial institutions and banks within the U.S. to report suspicious account activities to the U.S. Treasurer’s Office. Transactions that garner this type of attention usually involve cash amounts that are greater than $10,000 and will get added to the Currency Transaction Report (CTR). This report begins the process of discovering who was behind the transaction and where the cash went.

Another preventative tracking measure is the Suspicious Activities Report (SAR). This report tracks individuals who use multiple bank locations for frequent deposits of cash. If amounts exceed $10,000, the IRS has a form for businesses to use that regularly deal in transaction types of this nature.

Louisiana and Federal Money Laundering Penalties

Those who commit crimes involving money laundering may face federal and state charges. Louisiana criminal law has two thresholds for this offense, which are:

• Laundering of $3,000 or less is a misdemeanor that carries punishments of up to six months in prison and up to $1,000 in fines. 
• Cases involving more than $3,000 carry penalties of up to 99 years in prison and up to $50,000 in fines.

While state-level charges alone for this crime are devastating in their own right, federal statutes are equally as harsh and life-changing if you’re convicted. If facing charges in federal court, defendants could receive penalties of up to twenty years in prison along with a fine of:

• Five hundred thousand dollars or,
• Twice the amount laundered

It’s critical to hire a seasoned white-collar crime attorney if facing charges in one or both levels of court in these types of cases as the punishments are extensive and will impact your life dramatically. 

The punishment for money laundering activities depends on the particular charges and varies from case to case, but in most instances, defendants face a lengthy prison sentence.