Title: Federal Money Laundering Statute & Penalty | 18 USC 1956
Headings: 18 USC 1956: Federal Money Laundering Statutes & Penalties
18 USC 1956: Federal Money Laundering Statutes & Penalties
What are the U.S. Federal Laws Against Money Laundering?
Federal Money Laundering Penalties
What is the U.S. Federal Definition of “Specified Unlawful Activity”?
Are there Other U.S. Federal Laws Involving Proceeds of Specified Unlawful Activity?

Content: 18 U.S. Code Section 1957 is closely related to the federal money laundering statute. Section 1957 section prohibits any person from using – or attempting to use – the funds of a specified unlawful activity in any monetary transaction over $10,000. The key difference between Section 1957 and money laundering involves intent. There is no intent requirement under Section 1957. So, it does not matter whether the offender intended to carry out unlawful activity. If they engage in a monetary transaction above $10,000 knowing – or having a reason to know – that the funds involve specified unlawful activity, it likely qualifies as a violation of Section 1957. In terms of the punishment for this offense, a conviction typically results in a 10-year prison sentence and a variable fine structure. The offender might have to pay the greater of $250,000 or twice the value of the financial transaction in question, whichever is greater. Tagged as: 18 USC 1956, federal money laundering, money laundering
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