8.149 Transporting Monetary Instruments for the Purpose of Laundering (18 U.S.C. Sec. 1956(a)(2)(B)) is a federal law that makes it a crime to knowingly move or transport money or other monetary instruments with the intent to promote or facilitate certain types of illegal activities, including drug trafficking, tax evasion, or money laundering. This law applies to any person who transports or attempts to transport monetary instruments into or out of the United States, or who uses or attempts to use interstate or foreign commerce to transport monetary instruments. The types of transportation activities that are illegal under this law include sending money through the mail, moving money through a financial institution, or using a courier service to transport money. Additionally, anyone who is involved in the transportation of monetary instruments can be prosecuted under this law. This includes those who are involved in the preparation of the transportation, as well as any person who is knowingly facilitating the transportation by providing information or advice.
8.149 Transporting Monetary Instruments for the Purpose of Laundering (18 U.S.C. Sec. 1956(a)(2)(B))
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FAQ
Prosecutions under 18 U.S.C. § 1957 arise when the defendant knowingly conducts a monetary transaction in criminally derived property in an amount greater than $10,000, which is in fact proceeds of a specified unlawful activity.
Conducts or attempts to conduct a financial transaction involving property represented to be the proceeds of specified unlawful activity, or property used to conduct or facilitate specified unlawful activity, shall be fined under this title or imprisoned for not more than 20 years, or both.
To be sure, 18 U.S.C. §1956 criminalizes financial transactions that satisfy the conventional understanding of money laundering-namely, transactions intended ?to conceal or disguise the nature, the location, the source, the ownership, or the control of the proceeds of specified unlawful activity.? 18 U.S.C.
A five year criminal statute of limitations applies to all money laundering violations of 18 USC §1956 and 18 USC §1957. The five year statute also applies to violations of 18 USC §1960 absent any other specific provision.
§1956. Laundering of monetary instruments. (ii) to avoid a transaction reporting requirement under State or Federal law, shall be sentenced to a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty years, or both.
18 U.S. Code § 1957 - Engaging in monetary transactions in property derived from specified unlawful activity.
Section 1956 violations are punishable by imprisonment for not more than 20 years. Section 1957 carries a maximum penalty of imprisonment for 10 years. Property involved in either case is subject to confiscation.
§1956. Laundering of monetary instruments. (ii) to avoid a transaction reporting requirement under State or Federal law, shall be sentenced to a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty years, or both.