Federal Money Laundering Lawyers in Boston, Massachusetts
Money Laundering Charges Carry Serious Penalties
Money laundering involves transferring money and other gains into legitimate channels in order to (1) cover up unlawful activity (“specified unlawful activity” or “SUA”) from which the money actually came; and (2) avoid taxation by the Internal Revenue Service.
Money laundering is a very complex area of the law and is regulated under legislation that requires banks and other financial institutions to report cash transactions of $10,000 or more to the Department of the Treasury. Regulated institutions include:
- Banks
- Credit card companies
- Insurance companies
- Securities broker-dealers
These entities have to report suspicious transactions that may be related to criminal activity, or appear to be intentionally made in order to avoid bank-reporting requirements.
Individuals may not make financial transactions with money that was gained from certain crimes. Individuals are also prohibited from transferring money to another person or making multiple cash deposits at different banks in order to avoid bank-reporting requirements (also know as “structuring” or “smurfing”).
Federal Charges Are Complex
Banks must verify the identity of their customers and check their identities against lists of known and suspected terrorists. The Federal Reserve and the Office of the Comptroller of the Currency may become involved in an investigation of your financial institution.
In today’s complex economy, experienced money-laundering defense lawyers are few and far between. At the Yannetti Criminal Defense Law Firm, our attorneys have the experience to produce a solid defense against the federal charges you face.
Aggressive Attorneys With The Right Experience
If you think you or your business may be under investigation for money laundering, or if you are facing charges of money laundering, call the Yannetti Criminal Defense Law Firm for a free phone consultation at 617-297-9213.
Our attorneys have over 30 years of combined experience from both the prosecutor’s angle and defense. Providing legal advocacy for clients in Boston and New England, our knowledge in the courtroom can help you get the best results possible. Email us today.
