North Carolina Enacts Stricter Organized Retail Theft & Money Laundering Laws

On June 28, 2024, Governor Roy Cooper signed House Bill 495 into law as Session Law 2024-22, overhauling North Carolina’s statutes on money laundering and organized retail theft. These changes took effect December 1, 2024, giving prosecutors new tools to target sophisticated property-crime rings and financial predators.

Key Provisions of SL 2024-22 (H 495)

Organized Retail Theft (G.S. 14-86.6) now applies to both new and used merchandise, closing a loophole that previously excluded second-hand goods.

Value-Based Felony Scalings: Aggregated over 90 days, thefts over $1,500 are a Class H felony; over $20,000, Class G; over $50,000, Class F; and over $100,000, Class C.

Price-Tag Switching: Creating, affixing, or presenting fraudulent price codes on items over $200 is now a standalone offense under organized retail theft.

Money Laundering (G.S. 75D-3): Defines laundering as knowingly acquiring, concealing, or transferring proceeds from criminal activity exceeding $10,000 in a single or aggregated transaction.

Forfeiture & Venue: Ill-gotten assets are subject to forfeiture, and counties where any part of the offense occurs share venue.

Retailers’ associations, district attorneys’ offices, and law-enforcement groups praised the legislation. “By recognizing evolving tactics—whether fencing stolen used electronics or laundering illicit proceeds—this law helps protect consumers and honest businesses alike,” said Andy Ellen, President of the North Carolina Retail Merchants Association.

Law enforcement reports that since December 1, 2024, agencies have leveraged the new statutes in at least five multi-jurisdiction retail-theft investigations, several involving cross-state fencing operations. Anyone cited under the updated larceny or money-laundering statutes now faces penalties ranging from misdemeanors to decades in prison, depending on the value and nature of the offense.