{"id":376031,"date":"2016-03-31T21:36:30","date_gmt":"2016-04-01T02:36:30","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/state\/pennsylvania-law\/pennsylvania-money-laundering-laws.html"},"modified":"2018-03-02T13:54:37","modified_gmt":"2018-03-02T18:54:37","slug":"pennsylvania-money-laundering-laws","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/state\/pennsylvania-law\/pennsylvania-money-laundering-laws.html","title":{"rendered":"Pennsylvania Money Laundering Laws"},"content":{"rendered":"\n
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Pennsylvania 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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Overview of Pennsylvania Money Laundering Laws<\/h2>\n

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<\/a>, 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<\/a>.<\/p>\n

The following chart provides additional details about Pennsylvania’s money laundering laws.<\/p>\n\n
Statute<\/b><\/td>\n18 Pa. Cons. Stat. section 5111<\/a><\/td>\n<\/tr>
What Constitutes Money Laundering?<\/b>
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  • The defendant knew that the money or other proceeds came from criminal activities and acted intentionally to promote or further those activities.<\/li>\n
  • The defendant knew that the money or other proceeds came from criminal activities and understood that the financial transaction would be made to conceal, disguise, or protect those proceeds.<\/li>\n
  • The defendant acted to avoid a "transaction reporting requirement" set by state or federal laws.<\/li>\n<\/ul>\n<\/td>\n<\/tr>
Penalties<\/b><\/td>\n1st degree felony (up to 20 yrs. in prison; fine equal to double the amount stolen, up to $100,000)<\/td>\n<\/tr><\/tbody><\/table>\n

Many types of financial transactions may qualify as money laundering in Pennsylvania. In general, financial transactions involve the deposit, movement, or transfer of money and other forms of property. Currency exchanges, gifts, loans, purchases, and sales can also serve as financial transactions for money laundering. The financial transaction may go through a financial institution such as a bank, credit card company, investment bank, loan company, or another type of institution.<\/p>\n

Defenses to Money Laundering Charges<\/h2>\n