Category: FL-Specific Laws · Statute: F.S. 896.101 · Source: Florida Legislature
Understanding Anti-Money Laundering (FL) in Florida
Under Florida Statute Section 896.101, also known as the Florida Money Laundering Act, money laundering is a serious financial crime involving transactions designed to conceal the origin, ownership, or control of illegally obtained funds. To combat this, Florida law imposes strict reporting requirements on financial institutions and businesses for transactions exceeding $10,000. Additionally, the law targets "structuring"—the practice of deliberately breaking up large cash transactions into smaller amounts under the $10,000 threshold to evade state and federal reporting systems. Doing so is classified as a third-degree felony in Florida.
Unlike federal money laundering charges, which are prosecuted in federal court, Florida's state-level anti-money laundering laws allow local state attorneys to prosecute individuals who conduct financial transactions involving proceeds from specific unlawful activities, such as drug trafficking, fraud, or racketeering. To secure a conviction under F.S. 896.101, the state must prove the defendant knew the property involved represented the proceeds of some form of unlawful activity and initiated the transaction to promote the crime or conceal the nature, location, source, or ownership of the funds.
Bail and Source of Funds Inquiries
When a defendant is charged under Florida’s anti-money laundering statute, securing pretrial release through a bail bond faces unique hurdles. Florida courts frequently implement a "Nebbia hearing" requirement (or a source-of-funds inquiry) for these offenses. Under this rule, the defendant or the person paying the bail must present clear financial documentation proving that the money or collateral used to secure the bail bond originates from legitimate, lawful sources, rather than the proceeds of the alleged money laundering scheme itself.