What is money laundering?

Money laundering is a white collar crime that happens when money that was obtained illegally is disguised as coming from a legitimate source. This crime often occurs alongside other illegal activities such as drug trafficking and fraud. In South Carolina, money laundering is a crime that can lead to serious consequences if convicted. Money laundering is defined as using financial transactions with the intent of disguising the true nature of the proceeds and making them appear as coming from a legitimate source. This includes making a financial transaction with money that was obtained illegally in order to hide the source of the money. The penalties for money laundering in South Carolina depend on the amount of money involved in the crime. If the amount is more than $10,000, the person can be charged with a felony and face up to 10 years in prison. In addition, a defendant may have to pay a fine, fees, or restitution to the victim. It is important to remember that money laundering is a serious crime, and that a person convicted of money laundering in South Carolina can face serious consequences. If you have been charged with money laundering, it is important to contact an experienced criminal defense attorney who can help you understand your legal options and protect your rights.

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