Money laundering refers to activities that introduce assets derived from criminal offenses into the financial and economic system, thereby concealing their true origin. The offense of money laundering includes, for example, acquiring, transferring, exchanging, holding, or concealing these assets.
Besides so-called organized crime, real estate, financial services, art dealing, car dealing and gambling are considered particularly risky.
The Money Laundering Act establishes identification, recording, determination and notification obligations for numerous business areas.
The transparency register, regulated in Sections 18 et seq. of the German Money Laundering Act (GWG), is a register for recording the beneficial owners of companies and legal arrangements. Violations of the transparency register are subject to fines.
Signs of money laundering can include, for example: large amounts of cash, origin from countries outside the EU where corruption or other crime is prevalent, services that are inconsistent with the stated sources of income, payments from unknown persons, sales where the market value differs significantly from the purchase price.
Depending on the severity, sanctions range from fines to ten years imprisonment.
Yes. A variety of circumstances can lead to a reduction in sentence in a specific case, such as full cooperation with the authorities, complete disclosure, and taking early action. A timely self-report can also result in immunity from prosecution. You should discuss which measures are advisable in your case with a criminal defense attorney.
A particularly serious case may exist in the case of commercial activity or acting as a member of a gang.
Every criminal proceeding begins with an initial suspicion, which leads to the initiation of an investigation. The investigation concludes with an indictment, a penal order, or the dismissal of the case, for example, due to insufficient suspicion of a crime or upon the imposition of conditions. Following an indictment, a main trial and a court hearing are usually held. The main trial typically ends with a verdict or, in some cases, with a dismissal. Subsequently, an appeal may be pursued.
For example, an investigation will be discontinued if it turns out that there is no sufficient suspicion of a crime or that the public interest in prosecution is so low that discontinuation subject to conditions is possible.
Money laundering offenses generally have a five-year statute of limitations. The limitation period begins as soon as the offense is completed. A variety of circumstances can cause the statute of limitations to expire significantly later.
Through review of case files, legal assessment, and strategic defense. Early engagement and defense increase the chances of avoiding severe penalties and, in suitable cases, even achieving a dismissal of the proceedings.