18 U.S.C. § 1957 – Engaging in Monetary Transactions in Property Derived From Specified Unlawful Activity
This law makes it a federal crime to knowingly engage in large monetary transactions involving criminally derived property.
This statute targets money laundering conduct involving the use of proceeds derived from specified unlawful activity.
It applies to monetary transactions conducted through financial institutions when the property involved exceeds a statutory threshold and is known to be criminally derived.
What the law prohibits.
A person violates this statute if they knowingly:
- Engage or attempt to engage in a monetary transaction through a financial institution involving criminally derived property valued at more than $10,000
- Engage in such a transaction knowing that the property is derived from specified unlawful activity
Penalties.
A person convicted under this statute shall be fined under this title or imprisoned for not more than ten years, or both.
The court may impose an alternate fine of not more than twice the amount of the criminally derived property involved in the transaction.
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.
