Currency Violations

A variety of different crimes can be classified as ‘currency violations.’ Many people think that currency violations don’t hold severe penalties or that white-collar crime isn’t as dangerous as traditional violent crime. These are myths that get people throw in jail. Many currency violations are felonies and hold severe penalties for those convicted. You could be facing, at a minimum, one year in jail. If convicted on certain currency violations, you could be doing much more time than that. Whether you’re facing money laundering charges, counterfeiting charges or wire fraud charges, the sooner you speak with an attorney who has proven currency violation case experience, the better.

Different Types of Currency Violations

Money Laundering

Money laundering is one of the most well known types of currency violations. Basically, money laundering happens when a person generates income from an illegal activity. Since, you can’t exactly report your illegally gained income to the IRS, the money gets effectively laundered, or cleaned, through some type of legitimate business. The federal government takes cases of money laundering very seriously. If you’re facing a money laundering charge, chances are, you’ve got other related charges as well. Even if you’re a first time offender with non-violent charges, you could be facing an extensive amount of time behind bars, if convicted, so don’t waste any time before speaking to an experienced criminal defense attorney.

Counterfeiting 

Counterfeiting is another common type of currency violation. Counterfeiting is essentially the manufacture of fake goods or of imitation money. Counterfeiting brands without authorization and then passing off those products as genuine can land you in hot water. An especially egregious currency violation is counterfeiting money. If you’ve been charged with manufacturing fake currency, you need to speak with a lawyer as soon as possible. These are incredibly serious charges, and you need an attorney with federal case experience.

Currency Reporting and Structuring 

Currency reporting and structuring can also get people in trouble. If you’ve been accused of not reporting currency or structuring your deposits in order to evade taxes, you’re in hot water. The Internal Revenue Service (IRS) expects you to report every cent you earn, and if you don’t you can count on them to track you down. Many small business owners and entrepreneurs may find this a difficult task, but accurately keeping records and reporting all currency is a good way to avoid legal trouble. It’s also important to recognize that structuring your bank deposits can also raise suspicion. For example, if you frequently make large deposits, but they’re not large enough that the bank has to report it, somebody is going to notice. Banks would consider frequent deposits just under the reporting minimum to be pretty suspicious.

White Collar Crime

Currency violations are usually classified as types of white collar crime. These are typically crimes that are non-violent in nature and deal with finance. They’re equated with middle, upper management or executive positions. Although many people feel that a white collar, seemingly victimless crime, is much less dangerous and damaging to society than the crimes of a violent criminal, the federal government doesn’t exactly look at it that way. Many white collar currency violation crimes hold very severe penalties, including stiff prison sentences and hefty fines.

Penalties Involving Currency Violations

Depending upon the unique circumstances of your individual case, you could be facing as little as fines and a brief jail sentence to decades in a federal prison facility, if convicted. Don’t believe the myth that you’ll be heading to a minimum security resort either. You’re not Martha Stewart, and you could be sent to a dangerous, medium or maximum security federal prison facility. Your best chance is hiring a criminal defense attorney with white collar case experience. Don’t let the federal government throw the book at you for the non-violent, victimless crime that you’re being accused of.