Created by FindLaw's team of legal writers and editors | Last reviewed May 25, 2018
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Individuals who channel funds from unlawful activities to legitimate enterprises can be charged with the offense of money laundering. For instance, a drug trafficker takes "dirty" money from the drugs sales and "cleans" the money by investing in a lawful business such as a nail salon. In Virginia, the money laundering statute has two subsections that coordinate with the two separate instances of money laundering violations in the state: Subsection A involves financial transactions; subsection B involves cash conversions.
Section A prohibits an individual from conducting a financial transaction with knowledge that the property involved in the transaction comes from the proceeds of a felony or felonious activity. The kind of transaction that violates the statute is one in which the individual has an intent to hide or disguise aspects of the transaction such as the nature, location, source, ownership, or control of the property, or to prevent the transaction from being reported under state or federal law.
Under Section B, it's illegal for an individual to receive compensation for the conversion of cash into negotiable instruments or electronic funds with knowledge that the cash derived from the proceeds of a felony.
While it's important to know the detailed wording of a statute, it's also helpful to refer to basic terminology to illustrate how the law functions. See the chart below for an overview of Virginia's money laundering laws.
Statute |
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Possible Penalties
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The actual penalties are contingent on the specific circumstances of the case. The following are general guidelines determined by the statute. Penalties for Section A Violations:
Penalties for Section B Violations:
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Possible Defenses |
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Related Offenses |
Note: State laws are always subject to change through the passage of new legislation, rulings in the higher courts (including federal decisions), ballot initiatives, and other means. While we strive to provide the most current information available, please consult an attorney or conduct your own legal research to verify the state law(s) you are researching.
If you're accused of violating Virginia's money laundering laws under a purported financial transaction or by a cash conversion, then you should have experienced counsel as your advocate. Consult with a Virginia criminal defense attorney near you immediately.
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