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The Money Laundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made money laundering a federal crime. It was passed in 1986. It consists of two sections, 18 U.S.C. § 1956 and 18 U.S.C. § 1957. It for the first time in the United States criminalized money laundering.
The predicate offences are codified in 18 USC § 1956(c)(7). [6] With the passage of the 6th EU Money Laundering Directive, [ 7 ] the European Union has now adopted as standard set of Predicate Offences to mitigate loopholes in member state AML legislation.
Finally, the Act defines proceeds in the money laundering statute (18 U.S.C. § 1956) as "any property derived from or obtained or retained, directly or indirectly, through some form of unlawful activity, including the gross receipts of such activity". [9]
Several statutes, mostly codified in Title 18 of the United States Code, provide for federal prosecution of public corruption in the United States.Federal prosecutions of public corruption under the Hobbs Act (enacted 1934), the mail and wire fraud statutes (enacted 1872), including the honest services fraud provision, the Travel Act (enacted 1961), and the Racketeer Influenced and Corrupt ...
Title 31 - Money and Finance; Title 32 ... Title 18 of the United States Code is the main ... Prohibition of illegal gambling businesses § 1956. Laundering of ...
3.3 Title III: Anti-money-laundering to prevent terrorism. 3.4 Title IV: ... 18 USC § 1363, 18 USC § 1366, 18 USC § 1956, 18 USC § 1960, 18 USC § 1961, 18 USC ...
Anti-Money Laundering ... contained at section 1956 of Title 18 of the United States Code, prohibits individuals from engaging in a financial transaction with ...
an offense described in section 1956 of title 18 (relating to laundering of monetary instruments) or section 1957 of that title (relating to engaging in monetary transactions in property derived from specific unlawful activity) if the amount of the funds exceeded $10,000;