Having regular customers when you run a small retail business can give you dependable revenue. The only thing better than customers who regularly come in and patronize your business would be those who spend cash.
Cash purchases can be great for small businesses because you don’t have to worry about a check bouncing or paying the fees associated with credit card processing. Taking 2% off of every purchase can really eat into your profit margins over time.
Customers paying cash for food, small electronics or gift cards can be very lucrative for your store. Unfortunately, if you aren’t careful about how frequently you engage in certain cash transactions, law enforcement officers might eventually start to suspect you of money laundering.
Law enforcement track funds involved in criminal activity
When local police departments or federal agencies discover major drug trafficking operations, prostitution rings or underground gambling facilities, one of the many ways that they establish evidence for prosecution is through the use of traceable currency. Having an undercover officer or a civilian informant use marked bills can help the state figure out where the money goes.
Unfortunately, if criminals come to your store and buy items that they can use like legitimate currency (like gift cards), it could look like your business intentionally cooperates with their money laundering efforts. The same thing could happen if police often find receipts or products from your store when they arrest involved individuals.
Any retail owner or manager implicated in a money-laundering operation will need help reviewing the evidence so that they can fight back against those serious financial crime allegations. An experienced criminal defense attorney can guide you.