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?

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Avoid financial reporting requirements under U.S. federal or state law. Essentially, Section 1956 prohibits the use of financial transactions to further a criminal act, referred to as specified unlawful activity and defined in the next section. Furthermore, money laundering occurs whenever a person attempts to obscure the source of the funds or avoid reporting requirements. Taken as a whole, Section 1956 makes it illegal to conduct financial transactions with money or property derived from criminal activity. Federal Money Laundering Penalties
In terms of the punishment for money laundering, a conviction typically results in a 20-year prison sentence and a variable fine structure. The offender might have to pay the greater of $500,000 or twice the value of the financial transaction in question, whichever is greater. Money laundering offenses can also give rise to a civil action under Section 1956. From a civil standpoint, the potential penalty is usually $10,000 or the value of financial transaction in question, whichever is greater. What is the U.S. Federal Definition of “Specified Unlawful Activity”? The U.S. federal definition of “specified unlawful activity” also appears under Section 1956.