NCJ Number
227162
Journal
American Criminal Law Review Volume: 46 Issue: 2 Dated: Spring 2009 Pages: 837-862
Date Published
2009
Length
25 pages
Annotation
In discussing the elements of the Money Laundering Control Act, this article provides an overview of the offenses covered under the act, analyzes elements of the offenses, describes defenses that may be mounted against charges under the act, and discusses criminal and civil penalties that attach to offenses.
Abstract
The Money Laundering Control Act consists of two sections. Title 18 of the U.S. Code (U.S.C.) section 1956 describes prohibited financial transactions and prohibited financial transportation, and it authorizes the government to use sting operations; 18 U.S.C. section 1957 counters transactions that involve property exceeding $10,000 derived from the specified unlawful activities. The government must prove four elements in order to obtain a conviction under the act: knowledge, the existence of proceeds derived from a specified unlawful activity, a financial transaction, and intent. Three theories have been used to attack prosecutions under the Money Laundering Control Act: constitutional vagueness, double jeopardy, and constitutional impermissibility. These defenses, however, have had virtually no success in cases brought under the act. The article’s concluding section indicates the civil and criminal penalties that attach to offenses specified in the act. 172 notes