What are the legal consequences of money laundering?

Money laundering is illegal worldwide and carries serious criminal penalties. Consequences include substantial prison sentences (typically 5-20 years depending on jurisdiction), hefty fines (often millions of dollars), and asset forfeiture where authorities seize laundered funds and related property. Individuals may also face civil penalties and permanent criminal records affecting employment and reputation. Financial institutions facilitating money laundering face corporate fines, loss of banking licenses, and operational restrictions. In cryptocurrency, users attempting to launder funds through exchanges risk account freezing, transaction blocking, and law enforcement investigation. Many countries now require crypto exchanges to implement KYC (Know Your Customer) procedures to prevent laundering. The trend globally shows increasingly strict enforcement and cooperation between countries to combat financial crime.