NCJ Number
155883
Journal
Criminal Justice Dated: (Spring 1992) Pages: 1,3-5,50-51
Date Published
1992
Length
6 pages
Annotation
There is a significant need for prosecution and forfeiture guidelines in the area of money laundering, since most Federal and State crimes that generate large amounts of money are covered by money laundering statutes.
Abstract
These statutes give the government broad criminal and civil forfeiture authority in money laundering cases. The government can freeze, seize, and forfeit otherwise unfreezable assets by adding a money laundering count to an indictment. Given the severity of Federal sentencing guidelines and the availability of broad asset seizure and forfeiture in money laundering cases, a strong case can be made for establishing uniform and consistent guidelines and for requiring U.S. Department of Justice review and approval of additional categories of money laundering indictments and forfeitures. The importance of prosecution and asset forfeiture guidelines is examined in relation to Federal sentencing guidelines and sentencing ranges, tax evasion, tax fraud, and financial institution involvement in money laundering. The use of the Racketeer Influenced and Corrupt Organizations Act to prosecute money laundering cases is noted.