18 U.S.C. § 1956 – Laundering of Monetary Instruments
This law makes it a federal crime to conduct financial transactions with proceeds of unlawful activity to promote crime, conceal proceeds, evade reporting requirements, or avoid taxes.
This statute targets money laundering involving financial transactions conducted with proceeds derived from criminal activity.
It applies to transactions intended to promote unlawful activity, conceal or disguise criminal proceeds, evade transaction reporting requirements, or facilitate tax evasion.
What the law prohibits.
A person violates this statute if they knowingly:
- Conduct or attempt to conduct a financial transaction involving proceeds of specified unlawful activity with intent to promote the carrying on of that unlawful activity
- Conduct or attempt to conduct a financial transaction involving proceeds of specified unlawful activity knowing the transaction is designed to conceal or disguise the nature, location, source, ownership, or control of the proceeds
- Conduct or attempt to conduct a financial transaction involving proceeds of specified unlawful activity knowing the transaction is designed to avoid a transaction reporting requirement under federal or state law
- Transport, transmit, or transfer, or attempt to transport, transmit, or transfer monetary instruments or funds into or out of the United States with intent to promote unlawful activity, conceal criminal proceeds, or evade reporting requirements
- Conduct or attempt to conduct a financial transaction involving property represented to be the proceeds of specified unlawful activity for the purpose of promoting or concealing criminal conduct
Penalties.
A person convicted under this statute shall be fined not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisoned for not more than twenty years, or both.
If you’re being investigated or charged under a federal money laundering statute, call (314) 900-HELP or contact our criminal defense attorneys to discuss your situation.
