Money laundering

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Money laundering is a US federal crime.

Domestic money laundering is prosecuted under 18 USC § 1956(a)(1). On the other hand, international money laundering is prosecuted under 18 USC § 1956(a)(2). The transactions needs to have involve the proceeds of "specified unlawful activities" (SUAs).

Section 1957[edit | edit source]

18 USC § 1957 doesn't have an intent requirement—unlike Section 1956.

Currency transaction report[edit | edit source]

A currency transaction report (CTR) is used to report transactions in excess of $10,000.

31 U.S. Code § 5324 is for attempts to evade CTR.[1]

Cases[edit | edit source]

United States v. Jackson (1991)[edit | edit source]

United States Court of Appeals, Seventh Circuit reviewed the case U.S. v. Jackson[2] involving commingling. Commingling means mixing up of "clean money" and "dirty money."

Cuellar v. United States[edit | edit source]

Cuellar v. United States (2008) addresses the issue of international money laundering.[3] The defendant was transporting $81,000 from Texas to Mexico. The indictment indicated that the defendant's money was "criminal proceeds." The Supreme Court unanimously reversed Cuellar's conviction.

References[edit | edit source]

See also[edit | edit source]