Title: What Is Money Laundering and What Is Its History? - TheStreet
Headings: What Is Money Laundering and What Is Its History?
What Is Money Laundering and What Is Its History?
Money laundering has been around for 2,000 years, and it's still pervasive - and just as hard to track - today.
Money Laundering Broken Down
History of Money Laundering
Steps Used in Money Laundering
1. Placement
2. Layering
3. Integration
The Amount of Money to Be Laundered Matters
Money Laundering in the 21st Century

Content: In that regard, money laundering is a criminal offense, as the act of hiding illegally obtained cash is a crime all its own. In the U.S., states have different interpretations of what money laundering is (and money laundering is criminalized under both state and federal statutes.) But in general, any action to hide money illegally obtained by laundering is a criminal offense. To help law enforcement officials get a better handle on prosecuting money laundering cases, the U.S. Supreme Court has ruled that, to make a case against money laundering, prosecutors must demonstrate that an individual hid money specifically to suppress the location, ownership, origin, nature, and control of the cash that was laundered. The Court ruled that money laundering wasn't an offense because of the simple act of "hiding" money - it became a criminal offense when the cash was taken and moved through channels to give it the air of legitimacy. Penalty-wise, money laundering is virtually always cited as a felony offense, although misdemeanor cases do appear from time to time. If found guilty of a misdemeanor money laundering case, a criminal can expect a year or so in jail. If found guilty of a felony, the guilty party can expect in excess of one year in jail, plus fines and penalties. Repeat offenders have been sent away to jail for as many as 35 years. Fines vary from state to state, and with federal cases.