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Embezzlers have a legal right to manage or move funds around, but they misappropriate them for personal gain. Money launderers, however, move money they have obtained illegally to distance the funds from their source before returning them to themselves or their clients.
However, unlike most theft crimes which usually involve threatening someone or using force to obtain the item you want. Embezzlement is the misappropriation or stealing of funds or property entrusted to them. Unlike money laundering, embezzlement involves taking money the embezzler obtained legally.
Learn about the critical differences between embezzlement and money laundering charges from an experienced New Jersey white collar crime lawyer.
To summarize, an embezzler obtains funds lawfully but uses them for unintentional or criminal ends. At the same time, money laundering occurs when funds are collected unlawfully and utilized for such financial offenses and illegal practices.
Embezzlement involves the intentional misappropriation of funds. By contrast, money laundering describes an attempt to make illegally gained proceeds appear to originate from a legal source. Read on to learn more. Do not hesitate to contact Keith Oliver Criminal Law to schedule your free, confidential consultation today. What Is Money Laundering?
The most important distinction between embezzling and money laundering is that embezzled funds are typically fully “legitimate” and thus do not need to be “cleaned”, unlike the illicit funds moved around by money launderers.
Embezzlement is categorised as a theft crime, while money laundering is positioned as a financial crime. Both offences bear substantial legal consequences, underscoring the significance of vigilance and adherence to compliance measures for regulated entities.