Title: Anti-Money Laundering 2020 | Laws and Regulations | USA | ICLG
Headings: 
USA: Anti-Money Laundering Laws and Regulations 2020
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1. The Crime of Money Laundering and Criminal Enforcement
2. Anti-Money Laundering Regulatory/ Administrative Requirements and Enforcement
Authorities
AML Requirements
Main Requirements
Responsible Authorities
Examination Criteria
3. Anti-Money Laundering Requirements for Financial Institutions and Other Designated Businesses
Currency Transaction Reporting
Cash Reporting or Form 8300 Reporting
Customer Due Diligence
Customer Identification Program
4. General
Contributors
Other USA Chapters

Content: 1.6 What are the maximum penalties applicable to individuals and legal entities convicted of money laundering? The maximum penalties are fines of up to $500,000 or double the amount of property involved, whichever is greater, for each violation, and for individuals, imprisonment of up to 20 years for each violation. 1.7 What is the statute of limitations for money laundering crimes? That statute of limitations is five years. 18 U.S.C. § 3282 (a). 1.8 Is enforcement only at national level? Are there parallel state or provincial criminal offences? Section 1956 (d) specifically provides that it does not supersede any provisions in federal, state or other local laws imposing additional criminal or civil (administrative) penalties. Many states, including New York and California, have parallel money laundering criminal provisions under state law. See, e.g., New York Penal Law Article 470.