Money Laundering


Money Laundering


Money laundering happens when a person or organization intends to convert money obtained from illegal sources to money that appears to be gotten from lawful sources.


Money Laundering Laws

Money Laundering Laws In South Carolina


It is a complex crime that consists of a high number of financial transactions across many countries. Money laundering crimes have increased in South Carolina over the past few years. Millions of dollars are sent to Mexico directly from the state. These crimes are often linked to drug trafficking and other crimes in South Carolina. All money transfers from SC are monitored and businesses need a special license to send money anywhere from SC. The charges for money laundering in SC are severe because of these reasons.


You will be facing a money laundering charge if you attempt or successfully conduct a transaction with money earned from illegal activities. If you do so, you will be guilty of one of the following charges:


• You intend to carry on with the illegal activity.
• You are aware that completing the transaction will conceal the illegal activity.


Money Laundering Penalties


A conviction for money laundering in South Carolina can lead to penalties depending on the amount of money involved in the transaction. These crimes fall under different classes of felonies as below.


○ If the transaction amount is between $300 – $19,999, it is categorized as a Class F felony and carries a 0-5 year jail term.

○ If the amount is between $20,000 – $99,999, it is categorized as a Class E felony and carries 0-10 year jail term.

○ If the amount is more than $100,000, it is categorized as a Class C felony and carries 0-20 year jail term.

○ The defendant may also be fined twice the actual value of the transaction or whichever is higher for a first offense if the transaction amount is less than $250,000.

○ If the transaction amount is more than $250,000 and below $500,000, the defendant will be fined quintuple the value of the transaction or whichever is higher for second and subsequent offenses. 

Money Laundering Laws In Virginia


Money laundering is a serious crime in VA. People who channel money from illegitimate activities to lawful enterprises are usually charged with this crime in the Commonwealth of Virginia.


For example, if a person invests money from drug trafficking to a legitimate business, he or she can be charged with money laundering in VA. It is viewed as a white collar crime in the state.


Money laundering investigations are quite complex. You need to work with a professional attorney if you or someone in your family is charged with the crime.


The Penalties

Conviction in VA can depend on the amount of money involved in the illegal transaction.


• The first offense is categorized as a class 1 misdemeanor punishable by a jail term of at least 12 months. A fine of $2,500 per count is also involved in the penalty.
• Second and subsequent offenses are categorized as a class 6 felony punishable by up to five years in prison. Fines can range from a few thousand dollars up to $500,000 or twice the value of the transaction.


Make sure you hire a professional and experienced lawyer to handle your case.

Money Laundering | Criminal Defense | Greenville SC | Roanoke VA



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