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Money Laundering Schemes: The Unassuming Consumer

You may be shopping online, exchanging money through one of dozens of apps, or building your small business from the ground up, and at the same time—helping a thief launder money. Money laundering schemes are adapting to changes in technology just like humans are and getting smarter, as well. Whether you know it or not, you may be an accomplice to a money laundering scheme and subsequently, susceptible to facing charges. As currency exchange models transform, you must know about both real world and online money laundering schemes to protect yourself.

The attorneys at Mitchell & West, LLC can help you determine what to do, and can represent you in court, if you are facing charges of money laundering in Florida. Our team is experienced and dedicated to protecting your rights, using a personalized and compassionate approach. Don’t face the legal system alone, contact our team for help.

Types of Money Laundering Schemes

There are numerous types of money laundering schemes to be aware of. They can be implemented both in in-person transactions as well as virtually, online.

Money laundering schemes include:

  • Becoming an unknowing mule: Either through dating websites, secret shopper scams, or through work from home scams, you may be moving money (or drugs) illegally without even knowing it. From traveling to meet a distant love interest, to being provided cash to shop and then returning the items and returning the cash, minus commission, you may be transferring funds that are part of a laundering scheme.
  • Using cryptocurrency: Launderers can clean their money using cryptocurrency exchange. Cryptocurrency brokers can transfer millions of dollars in cryptocurrency across international borders, always staying one step ahead of authorities.
  • Online gaming: Exchange real cash for online cash and money can be moved around inside a game, washing it and multiplying it through users and game-credits.
  • Gift Cards: Cards can be manipulated in several ways as a tactic to wash money, either by stealing the card codes and then using them once activated, to purchasing prepaid cards in bulk and then selling them for cash.

If you are a small business owner, watch out for:

  • Prepaid cards: If customers are making large purchases on prepaid cards, beware of the number of times one customer is using prepaid cards. Many launderers will target small businesses to move money and products, then making returns for clean money.
  • Know your clientele: Pay attention to regular clients or shoppers who are making multiple transactions, especially larger transactions. If something suspicious, trust your gut and investigate.
  • Educate your employees: Make sure your employees know what to watch for, and that they have a right to refuse service to anyone who seems suspicious. It is better to be safe than sorry.

When It’s Too Lat, Contact Our Team: (305) 783-3301

If you are facing charges for money laundering, you need a strong defense that will fight for you to protect your rights and try to get the charges reduced. You may have fallen prey to a money laundering scheme and not known it or were tricked into being a money mule despite your best efforts at self-protection. Don’t try to fight charges on your own, let our Miami criminal defense attorneys help.

Contact our firm at (305) 783-3301.

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