basic money laundering provision
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NATIONAL SECURITY & PUBLIC SAFETY
Financial Investigations
The University of New Haven
What is Money Laundering?
How Money Laundering Works
The University of New Haven
Basic Money Laundering Provision
The University of New Haven
Title 18 U.S.C. § 1956
Title 18 U.S.C. § 1956 (a)(1) makes it a crime to knowingly conduct, or attempt to conduct, a “financial transaction” with proceeds from “specified unlawful activity” (SUA) with specific intent to:
–Promote SUAOR
–Conceal or disguise the source, origin, nature, ownership, or control of the proceeds OR–Evade reporting requirements
OR–Evade taxes
Basic Money Laundering ProvisionDefinition
• Financial transaction means a transaction:oAffecting interstate or foreign commerce involving: The movement of funds by wire or other means One or more monetary instruments Transfer of title to any real property, vehicle, vessel, or
aircraft OR
o Involving the use of a financial institution engaged in activities affecting interstate or foreign commerce.
18 U.S.C. § 1956(c)(4)