NCJ Number
151636
Journal
Alabama Law Review Volume: 44 Dated: (Spring 1993) Pages: 703-723
Date Published
1993
Length
21 pages
Annotation
This analysis of the 1991 Federal Anti-Money Laundering Statutes argues that these laws are unconstitutionally vague and overly broad when applied to routine business transactions and concludes that guidelines similar to those adopted for the Racketeer Influenced and Corrupt Organizations Act are needed to prevent overzealous prosecutors from applying the Anti-Money Laundering Statutes beyond their intended purpose.
Abstract
These laws were drafted to reach drug-related activities, but they have been stretched beyond their original intent. Although recent guidelines have been enacted to address these concerns, the guidelines are largely ineffective. Therefore, additional guidelines are needed to prevent overzealous prosecutors from misapplying the laws and to ensure that corporations are not deterred from entering into legitimate business transactions. Eighty-eight reference notes