What is Money Laundering?
In Utah, an individual can be charged with money laundering for the following reasons:
- He transports, receives, or acquires property/money which derives from an unlawful activity, and he knows the that the property/money is the proceeds of the unlawful activity;
- He makes property/money which derives from an unlawful activity available to someone else whether by transaction, transportation, or other means, knowing that the property/money is to be used for the purpose of continuing or furthering the commission of the unlawful activity;
- He conducts a transaction knowing the property/money involved in the transaction is proceeds from an unlawful activity and he has the intent: (1) to promote the unlawful activity; (2) to conceal or disguise the nature, location, source, ownership, or control of the property/money; or (3) to avoid a transaction reporting requirement under state or federal law; or
- He knowingly accepts or receives property/money which is proceeds of an unlawful activity.
The first three of the four bullet points above constitute second degree felony money laundering. The last bullet point constitutes a third degree felony.
The Reporting Requirement
To help combat money laundering the state of Utah requires businesses to report anytime they receive $10,000 or more in cash in one transaction or in two or more related transactions in one business day. A knowing and intentional violation of the reporting requirement can range in criminal liability from anywhere to a class C misdemeanor to a third degree felony.
Each time a business violates the reporting requirement it constitutes a separate offense.
Money Laundering Defense
If you are facing criminal charges for money laundering call our Criminal Defense at 801.413.1753 to get immediate help with your defense. We’re happy to talk to you over the phone to answer your questions and help you understand the nature of the charges brought against you. Time is of the essence. We recommend that before you speak to investigating law enforcement that you retain us so that we can guide you through the process and protect your rights.