To be charged with money laundering, it is not actually necessary for the money to be converted into a different form through investing or buying something. Laundering simply refers to the act of receiving or transferring money obtained from illegal activity. By accepting money that was earned through criminal activity, a person may be charged with laundering money.
Since money laundering is defined as receiving or transferring money from illegal activity, the charges are usually combined with other criminal charges (see “predicate offence” Link to FAQ). Some examples of associated criminal activities include:
- Extortion, blackmail, or bribery
- Financial or medical fraud
- Trafficking of people or illegal goods (drugs, contraband)
Any illegal activity that results in a payment may include money laundering. In itself, money laundering is a serious charge with harsh penalties. Combined with other charges, a sentence may drastically increase in severity.
Overview | Money Laundering Offences | Other Related Offences