NCJ Number
223457
Journal
American Criminal Law Review Volume: 45 Issue: 2 Dated: Spring 2008 Pages: 741-764
Date Published
2008
Length
24 pages
Annotation
This article discusses the elements of the Federal Money Laundering Control Act.
Abstract
The Money Laundering Control Act consists of two sections: 18 U.S. Code section 1956 and section 1957. Section 1956 addresses prohibited financial transactions, prohibited financial transportation, and authorizes the Federal Government to use "sting" operations. The three subdivisions of section 1956 address domestic money laundering and participation in transactions that involve criminal proceeds; international money laundering and transportation of criminally derived monetary instruments in foreign commerce; and the use of government sting operation in order to expose criminal activity. Section 1957 pertains to transactions that involve property that exceeds $10,000 derived from the specified unlawful activities. Because the recipient need not actually exchange or launder the funds or have any specific intent to further or conceal unlawful activity, section 1957 potentially criminalizes seemingly "innocent" acts or commercial transactions that lack a participant's criminal intent. In enacting section 1957, Congress intended to dissuade people from engaging in even ordinary commercial transactions with people suspected of being involved in criminal activity; however, section 1957 does require that the violator "knowingly" engage in a transaction that involved criminally derived property. The article discusses the details of the elements of the offenses under the Money Laundering Control Act, i.e., the knowledge requirement, proceeds derived from a specified unlawful activity, and financial transaction, and intent. Defenses to charges under the Money Laundering Control Act are discussed in a separate section of the article. They pertain to constitutional vagueness, double jeopardy, and constitutionally impermissible. Penalties are discussed in the concluding section. 166 notes