Title: 2101. Money Laundering Overview | JM | Department of Justice
Headings: 2101. Money Laundering Overview
2101. Money Laundering Overview
Content: 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. Section 1957 (f) (1) defines a monetary transaction as a "deposit, withdrawal, transfer, or exchange, in or affecting interstate or foreign commerce, of funds or a monetary instrument . . . by, through, or to a financial institution (as defined in section 1956 of this title), including any transaction that would be a financial transaction under section 1956 (c) (4) (B) . . . ." Section 1957 carries a maximum penalty of ten years in prison and maximum fine of $250,000 or twice the value of the transaction. There is no civil penalty provision. The most significant difference from § 1956 prosecutions is the intent requirement.