Bounties and Bounty Hunters are nothing new to players. After all, there are rules that just have to be broken, people that hunt those rule breakers, and groups willing to spend money to get the job done; especially when the guards can't manage it. Bounties can be both great source of pay and experience for players, sometimes even having special items or information that can be very benefical in the long run.
Because Magience is filled with many diverse groups and races, each has their own set rules, customs, and laws in which they follow. Likewise each group has their own tolerance of law breakers and how they are dealt with. As long as the bounty is set up and the money is paid then it's first come, first served. Bounties differ on how dangerous it is, the severity of the crime, etc, but usually need to be turned into the group or individual that issued it. In other words, even if someone has a bounty on them, as long as they avoid the area or group that issues the bounty they need not fear being arrested, less some comes and captures them. Although bounties are usually regional, if a person reaches a a high enough Infamy (Bounty) Level the bounty can become a Universal Bounty.
Universal Bounties, as the name implies, are bounties placed on an individual that can be taken by anyone anywhere and is not bound by just one region. In other words, it can be turned in to any group for the reward. Of course, if one can reach such a level of infamy then they most be pretty skilled, but it will more than likely pay very well.
Bounties on Sleepers are a little more complicated. If a criminal can be proven to be a Sleeper their bounty from before their awakening will be completely removed. However, if the Sleeper returns to their previously criminal ways their prior bounty will be fully reinstated.
In most cases the prisoner claiming to be a Sleeper is held a few weeks for observation, and if they turn out to really be a Sleeper they're set free with a cleared record. If it's a false claim then, obviously, they remain in jail and the bounty hunter who brought them in is paid (if applicable).
The problem with this is many bounty hunters don't want to bring in a bounty only to: A) have to wait up to several weeks for the final verdict of Sleeperdom and/or B) not get paid at all should it prove to be true. It's a lot of trouble for possibly no pay, so most won't take on a bounty if there's any reasonable suspicion they could really be a Sleeper post-crime.
They are, of course, still expected to be brought to justice for crimes committed AFTER they become a Sleeper.
Individuals who make a living hunting down bounties are known as Bounty Hunters. Though some do work in groups, many prefer to go solo, especially seeing as they do not need to split the reward. Because bounties can vary from place to place, most are more likely to choose to go after bounties that are closer to where they are when they will recieve the reward, unless the pay is tempting. Bounty Hunters are not always just a Player; even NPCs can be bounty hunters.