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Congress has incrementally expanded the government's authority to disrupt and dismantle criminal enterprises and their money-laundering activities since the early 1970s. They have done this by enacting various anti-money-laundering and forfeiture laws such as the RICO Act of 1970 and the USA Patriot Act of 2001. The concepts of asset forfeiture ...
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
Civil forfeiture has been used to restore money stolen by fraud and other schemes by corrupt politicians. [100] Civil forfeiture targets cybercrime, fraud, and scams in high finance at Wall Street, and money-laundering on a global scale. [43]
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An Act to provide for the offence of money laundering, the measures to be taken for the prevention of money laundering and terrorism financing offences and to provide for the forfeiture of property involved in or derived from money laundering and terrorism financing offences, as well as terrorist property, proceeds of an unlawful activity and instrumentalities of an offence, and for matters ...
Bharara filed a two-count criminal information charging JPMorgan with Bank Secrecy Act violations, but the charges will be dismissed within two years provided that JPMorgan reforms its anti-money laundering procedures and cooperates with the government in its investigation. The bank agreed to forfeit $1.7 billion—the largest forfeiture ever ...
(Reuters) -The U.S. Supreme Court on Thursday declined to block enforcement of an anti-money laundering law that forces millions of business entities to disclose the identities of their real ...
Counterfeit money is currency produced outside of the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery, and is illegal in all jurisdictions of the world