NCJ Number
117701
Date Published
1988
Length
62 pages
Annotation
The Anti-Drug Abuse Act of 1986 contains a component known as the Money Laundering Control Act of 1986, which amends the Bank Secrecy Act and introduces the new offenses of laundering of monetary instruments and engaging in monetary transactions in property derived from certain unlawful activity.
Abstract
The law prohibits knowingly engaging in a broad range of transactions involving the proceeds of criminal activity with the intent to promote the unlawful activity or the knowledge that the transaction is designed to conceal some aspect of the funds or to avoid the requirements for reporting currency transactions. The law also prohibits the transportation of monetary instruments in foreign commerce with the same intent or knowledge. Elements of the offense include knowledge, conduct of the transaction, proceeds, and intent. The law includes civil and criminal forfeiture provisions. It also fails to exempt defense counsel from its reach regarding the receipt of attorneys' fees and has thereby discouraged defense counsel from performing their role of zealous advocacy of those accused of crime. It interferes with the attorney-client relationship and the Sixth Amendment right to counsel. Footnotes.