basic money laundering provision
TRANSCRIPT
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NATIONAL SECURITY & PUBLIC SAFETY
Financial Investigations
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The University of New Haven
What is Money Laundering?
How Money Laundering Works
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The University of New Haven
Basic Money Laundering Provision
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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
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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)