{"id":372776,"date":"2016-09-30T11:11:49","date_gmt":"2016-09-30T16:11:49","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/georgia-law\/georgia-money-laundering-laws.html"},"modified":"2018-12-10T01:00:00","modified_gmt":"2018-12-10T06:00:00","slug":"georgia-money-laundering-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/georgia-law\/georgia-money-laundering-laws.html","title":{"rendered":"Georgia Money Laundering Laws"},"content":{"rendered":"\n
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Georgia Money Laundering Laws<\/h1>\n
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Created by FindLaw’s team<\/a> of legal writers and editors<\/i><\/p>\n\n | Last updated\n

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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Ah, the ubiquitous crime of money laundering. \u201cDirty money\u201d being made to appear as if it has been obtained by legal means. Because of the covert nature of money laundering<\/a>, it is difficult to estimate the total amount of money that is illegally laundered in places like Georgia and beyond. The estimated amount of money laundered globally in one year is 2 -5 percent of global gross domestic product<\/a> (GDP), or $800 billion — $2 trillion in current US dollars. That\u2019s a whole lot of money flowing through corrupt and illegal channels. Whether through drug trafficking<\/a> or a range of other illegal activities, Georgia money laundering laws typically focus on the banking industry, while most of these crimes are prosecuted on a federal level.<\/p>\r\n

What Does \u201cMoney Laundering\u201d Mean?<\/h2>\r\n

Simply put, money laundering happens when someone attempts to conceal or disguise the nature, location, source, ownership, or control of the proceeds from unlawful activity. For example, let\u2019s say a drug dealer owns a taxi service, but funnels money into the service via ill-gotten gains from drug sales. That would be money laundering. Because these crimes often cross state lines, they are typically prosecuted by the U. S. Justice Department<\/a> under federal law.<\/p>\r\n

Related Crimes<\/h2>\r\n

A person accused of money laundering can also be charged with related crimes, typically those activities that the laundering is attempting to hide. Money laundering is generally the anchor crime in a federal investigation. Defendants also may be charged with crimes such as drug trafficking, embezzlement<\/a>, fraud (including mail and wire fraud<\/a>), and other illegal activities while engaging in money laundering to hide the alleged criminal activity.<\/p>\r\n

Georgia Money Laundering Laws at a Glance<\/h2>\r\n

The following table provides a basic overview of Georgia\u2019s money laundering laws and penalties. Keep in mind, if you are charged under federal laws, you may also be charged with a violation of the federal racketeering laws known as \u201cRICO<\/a>.\u201d<\/p>\r\n\r\n

Statutes<\/b><\/p>\r\n<\/td>\r\n

Penalties <\/b><\/p>\r\n<\/td>\r\n

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  • Violation of 1956<\/b>: Federal felony, up to 20 years in prison, fine, restitution to the victim(s)<\/li>\r\n
  •  Violation of 1957<\/b>: Federal felony, up to 10 years in prison, fine, restitution to the victim(s)<\/li>\r\n<\/ul>\r\n<\/td>\r\n<\/tr>

RICO Statute <\/b><\/p>\r\n<\/td>\r\n