Title: 2101. Money Laundering Overview | JM | Department of Justice
Headings: 2101. Money Laundering Overview
2101. Money Laundering Overview
Content: The representation may also be made by another at the direction of or approval of a Federal officer. It should be noted that the specific intent provisions in § 1956 (a) (3) are slightly different from those in § 1956 (a) (1). First, the intent to violate the tax laws is not included in this subsection. Second, subsections 1956 (a) (3) (B) and (C) require that the transaction be conducted with the intent to conceal or disguise the nature, location, source, ownership or control of the property or to avoid a transaction reporting requirement, respectively, in contrast to subsections 1956 (a) (1) (B) (i) and (ii), which only require that defendant know that the transaction is designed, in whole or in part, to accomplish one of those ends. Violations of § 1956 have a maximum potential twenty year prison sentence and a $500,000 fine or twice the amount involved in the transaction, whichever is greater. The general sentencing provisions in 18 U.S.C. §§ 3551-3571 should also be consulted. There is also a civil penalty provision in § 1956 (b) which may be pursued as a civil cause of action. Under this provision, persons who engage in violations of subsections 1956 (a) (1), (a) (2) or (a) (3) are liable to the United States for a civil penalty of not more than the greater of $10,000 or the value of the funds involved in the transaction. Copies of pleadings in § 1956 (b) actions are available from the Section. Prosecutions under 18 U.S.C. § 1957 arise when the defendant knowingly conducts a monetary transaction in criminally derived property in an amount greater than $10,000, which is in fact proceeds of a specified unlawful activity.