South Carolina Money Laundering Lawyer

State legislature implemented new and harsher prohibitions against unlawfully concealing finances to avoid tax obligations with the 2016 Anti-Money Laundering Act. To make matters worse, allegedly laundering money across state or international borders could lead to prosecution by federal authorities.

When you are accused of or are being investigated for laundering any amount of money, speaking with a seasoned defense attorney should be your top priority. A South Carolina money laundering lawyer with experience handling cases like yours could provide irreplaceable guidance throughout your legal proceedings, working diligently to secure a positive resolution on your behalf.

How State Law Addresses Money Laundering

The South Carolina Anti-Money Laundering Act, which went into effect on May 25, 2018, after first being introduced in 2016, is codified in Title 35, Chapter 11 of the South Carolina Code of Laws. In broad terms, this Act requires all businesses in South Carolina to obtain a license before transferring business funds, engaging in currency exchange, or advertising that they provide any such services. Knowingly engaging in any activity restricted under this Act and, as a result, receiving more than $500 in compensation within 30 days is also a class B felony. Receiving less than $500 through such activity is a class A misdemeanor.

This law also states that only properly licensed delegates can conduct these types of financial activities on behalf of a business. Under S.C. Code § 35-11-725, any person who knowingly makes a false statement or misinterpretation while applying for one of these licenses has committed a class B felony offense. Upon conviction, this charge may lead to a maximum prison term of 25 years.

According to S.C. Code § 35-11-740, conducting a financial transaction involving proceeds that came directly or indirectly from criminal activity, and intending to either facilitate further criminal activity or conceal the origin, location, source, or ownership of those proceeds, is a felony. The specific class of the felony charge in these cases depends on the amount of money involved. A South Carolina attorney could explain the specifics of this Act and how it may apply to a particular money laundering case during a private initial consultation.

When Does Money Laundering Become a Federal Crime?

Laundering money across state lines or in any way that involves federal employees or interests may result in charges being brought under the U.S. Code rather than South Carolina state law. Specifically, 18 U.S.C. § 1956 outlaws structuring, concealing, and laundering funds unlawfully acquired through specified “predicate offenses.” Individuals convicted of violating this statute may face federal prison sentences of up to 20 years.

Furthermore, 18 U.S.C. § 1957 prohibits any person who obtains funds through an aforementioned predicate offense from spending or depositing more than $10,000 of those funds. Convictions for this offense are punishable by a maximum 10-year prison term. Guidance from a seasoned South Carolina lawyer could be especially crucial to disputing money laundering charges involving the federal government.

Work With a South Carolina Money Laundering Attorney

Money laundering allegations may result in prosecution under state or federal laws. Either scenario could lead to a life-altering felony conviction. Put simply, your quality of legal representation and the defense you build could affect what the rest of your life looks like.

Working with a knowledgeable South Carolina money laundering lawyer could make all the difference in protecting your rights and resolving your case favorably. Call today to learn more.