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1 1 (December 11, 2006)

handle is hein.crs/crsajey0001 and id is 1 raw text is: Order Code RS22400 Updated December 11, 2006 Criminal Money Laundering Legislation in the 1 09th Congress Charles Doyle Senior Specialist American Law Division Summary Money laundering is an auxiliary federal crime, established to accentuate the seriousness of other specific federal, state, and foreign crimes (predicate offenses). It is designed to cut off the flow of money and other resources to and from those predicate offenses. Each of the racketeer influenced and corrupt organization (RICO) predicate offenses, including any of the federal crimes of terrorism, is automatically included on the money laundering predicate offense list. Money launderers face lengthy prison terms, heavy fines, and the confiscation of property associated with the laundering offense. This is an identification of bills in the 109' Congress that amend the money laundering provisions of 18 U.S.C. 1956, 1957, or use those offenses as the predicates for other federal crimes, or add new offenses to the money laundering predicate offense list either directly or indirectly. Principal among these is P.L. 109-177 (H.R. 3199), the USA PATRIOT Improvement and Reauthorization Act. Related reports include CRS Report RL33315, Money Laundering: An Overview of 18 U.S. C. 1956 and Related Federal Criminal Law, available in a shorter, abridged version as CRS Report RS22401, Money Laundering: An Abridged Overview of 18 U.S.C. 1956 and Related Federal Criminal Law, both by Charles Doyle. Introduction It is a federal crime to participate in a financial transaction or move money across a state border in order to (1) conceal the origin or ownership of the proceeds of other specific federal, state or foreign crimes (predicate offenses), (2) promote the commission of further predicate offenses, or (3) evade a state or federal reporting requirement, 18 U.S.C. 1956(a)(1),(2). Regardless of the purpose, it is also a federal crime to simply deposit or spend more than $10,000 of the proceeds from a predicate offense, 1957(a).

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