2 common types of money laundering 

On Behalf of | Jul 25, 2024 | White Collar Crimes

Money laundering is a type of white-collar crime. White-collar crimes are often thought of as less serious crimes, but this is not the case. A conviction for money laundering can result in significant criminal penalties. 

In a nutshell, money laundering amounts to taking illicit proceeds and passing them through a legitimate business to make those proceeds seem lawful. What exactly does this look like? 

1. Laundering through real estate 

Utilizing real estate to launder money is one of the most common methods. In some cases, an individual may buy a piece of real estate with illicit cash outright. They will then sell the property and the money from the sale seems like a legitimate source of income.

However, this is highly likely to raise alarm bells for the authorities. So, the individual with illicit cash may get someone else to make the purchase on their behalf or utilize a shell company. 

2. Using gambling to launder money 

In some cases, an individual may attempt to pass off illicit money as winnings from a gambling outing. A person may exchange illicit cash for casino chips, and then cash those chips in so that they leave the casino with “winnings”. Often, the individual is willing to take a small loss just to launder the money through the casino. 

Accusations of money laundering are not always justified. It is not illegal to buy a piece of real estate outright or win money at a casino. If you are facing charges of this nature, then it is important to address them properly. Seeking legal guidance is where you want to start. 

FindLaw Network
Gary Jay Kaufman
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