Pennsylvania Money Laundering Laws

Money laundering, known as “dealing in the proceeds of unlawful activities” in Pennsylvania, describes financial transactions used to conceal, disguise, hide, or shield money and other proceeds gained through criminal acts. For an offense to qualify as a criminal act for money laundering, state or federal laws must classify the offense as a first degree misdemeanor or a felony. State and federal laws allow for the prosecution of money laundering offenses to discourage financial gain through crime and to weaken groups engaged in organized crime or racketeering.

Penalties

Pennsylvania state laws include specific penalties and sentences for the offense of money laundering. The state prosecutes money laundering as a first degree felony. A conviction can result in a fine, a term of imprisonment, or both. The court may impose a fine in an amount up to $100,000 or double the total value of the financial transactions involved in the offense. The term of imprisonment may not exceed a sentence of twenty years.

In addition to establishing the criminal penalties, Pennsylvania state laws also allow civil penalties for money laundering. The civil penalty, paid to the state, may equal the value of the financial transaction or require a set fine of $10,000.

Questions about Pennsylvania Money Laundering Laws? Contact Atty. Munley directly at 570-420-0620 or ask him a question by using the form below.