720 ILCS 5/29B-1 – Money Laundering

720 ILCS 5/29B-1 – Money Laundering

This law makes it illegal to hide, move, or use money that came from crime to make it look legal.

This Illinois law says a person breaks the law if they try to move, hide, or spend money that comes from illegal activity, especially if it’s done to hide where the money came from or to keep from reporting it to the government.

(a) A person commits money laundering when he or she handles money or property that came from a crime and tries to make it look legal by doing any of the following:

• (1) When they know the money came from a crime and they take part in a financial deal that:
  1. Is meant to help keep the crime going; or
  2. They know or should know is designed:
     1. To hide where the money came from, who owns it, or how it’s controlled; or
     2. To avoid a rule that requires them to report the transaction to the state.
• (1.5) When they move or try to move money or something valuable:
  1. To help continue the crime that made the money; or
  2. Knowing or having reason to know it’s meant:
     1. To hide where the money came from, who owns it, or how it’s controlled; or
     2. To avoid a reporting requirement under state law.
• (2) When, with the intent to:
  1. Promote or help a specific criminal activity; or
  2. Hide or disguise property they believe came from a specific crime; or
  3. Avoid a legal reporting rule,

  they do or try to do a financial deal with money or property they believe is from a crime or used to help commit a crime.

(b) (Blank.)

(c) Sentence:

1. Laundering money worth up to $10,000 is a Class 3 felony.
2. Laundering money worth more than $10,000 but up to $100,000 is a Class 2 felony.
3. Laundering money worth more than $100,000 but up to $500,000 is a Class 1 felony.
4. Doing money laundering under part (a)(2) is a Class X felony.
5. Laundering money worth over $500,000 is a Class 1 felony, and probation is not allowed.
6. In cases under part (a)(1.5)(B)(ii), the sentences are:
   1. For $10,000 or less, a Class 3 felony.
   2. For more than $10,000 but up to $100,000, a Class 2 felony.
   3. For more than $100,000 but up to $500,000, a Class 1 felony.
   4. For over $500,000, a Class 1 felony without the possibility of probation.

View the full statute here.

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