Is money laundering a white-collar crime?

On Behalf of | Oct 11, 2021 | White Collar Crime, white collar crimes

White-collar crime can prevent you from working while you face legal repercussions. Involvement in unethical business practices in Illinois can damage your reputation and jeopardize your career.

Money laundering is just one of many types of criminal conduct in the professional realm. Minimizing the negative impacts of your involvement requires immediate and strategic action.

Identifying the process

Money laundering involves the use of deceitful and illegal practices to make a financial gain. According to the FBI, you could use a number of laundering methods to move money around including real estate, human trafficking and other financial crimes. You may have doubts as to whether or not your actions merit the seriousness of money laundering. If you have participated on any level in the process, however, you could face charges. Laundering includes the following steps:

  • Placement: When you invest your gains into the financial system
  • Layering: When you strategically move funds around to throw off auditors
  • Integration: When your proceeds return to you via a seemingly credible source

Responding carefully

Once you know of the allegations against you, it is imperative that you respond carefully to the situation. Especially if you were only a partial player, you will not want to take fault for everything that happened. Working with an attorney can help you understand everything so you can respond with confidence.

Throughout the legal process and beyond, you may need to make a consistent effort to remove distrust and regain credibility. With the right legal help, you may more effectively minimize the impact of past mistakes on your future success.