Miami Money Laundering Lawyer
What is Structuring in Money Laundering?
Have you been accused of money structuring? The government—particularly the IRS—relies on banking and financial reports to identify large deposits of money for tax collection purposes. "Money structuring" is the act of breaking these large cash deposits down into smaller sums in order to conceal the actual size of the transaction.
If you have been accused of money structuring, then we invite you to contact the Law Office of Michael Mirer, P.A. today. Attorney Mirer was formerly the Assistant State Attorney in Miami-Dade County and now provides unparalleled legal insight for clients facing state or federal charges. He has successfully navigated over 100 trials and always aggressively endeavors to secure the best possible outcome for his clients.
Do not hesitate to start countering the allegations against you for money structuring. Contact our firm for a free consultation today.
Is Money Structuring a Crime?
Money structuring (or "smurfing" as it is sometimes called) is described in 31 U.S. Code § 5324. It prohibits breaking down large deposits into smaller deposit amounts of less than $10,000.
It is federal law that all banks and financial institutions report deposits of $10,000 or more, so when a pattern of significant cash deposits of less than $10,000 emerges, it becomes suspected that a larger transaction is being concealed for tax evasion or money laundering purposes.
Money structuring is a felony that can result in:
- Up to five years in prison
- Fines in accordance with title 18 of the U.S. Code
It should also be noted that money structuring can be charged even if the source of the money is legal and if the suspect pays the proper income tax on the cash in question.
Defense Against Structuring Charges
If you've been accused, then we invite you to contact our firm today. An award-winning, aggressive Miami money laundering attorney is prepared to hear your story and provide you the emphatic, seasoned defense for the serious charges you face.
It is possible to face the allegations against you with confidence. Call us at the Law Office of Michael Mirer, P.A. today.
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