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It for the first time in the United States criminalized money laundering. Section 1956 prohibits individuals from engaging in a financial transaction with proceeds that were generated from certain specific crimes, known as "specified unlawful activities" (SUAs). Additionally, the law requires that an individual specifically intends in making ...
providing, selling, leasing, registering, or reflagging a vessel, aircraft, or other conveyance, or providing insurance or any other shipping or transportation service used to transport goods to or from North Korea, for purposes of facilitating a specified unlawful activity or evading a regulation established under this Act or the International ...
The law, contained at section 1956 of Title 18 of the United States Code, prohibits individuals from engaging in a financial transaction with proceeds that were generated from certain specific crimes, known as "specified unlawful activities" (SUAs).
Subsection (b) of the statute defines "unlawful activity" for the purposes of the Travel Act. The activities specified in this subsection include illegal gambling, liquor on which the Federal excise tax has not been paid, controlled substance offenses, prostitution offenses, extortion, bribery, or arson which violate either Federal law or the laws of the state in which they are committed.
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 ...
Timothy France Johnson, 61, was indicted March 20 on seven counts of wire fraud and three counts of engaging in monetary transactions in property derived from specified unlawful activity, federal ...
“Additionally, he faces a maximum statutory penalty of 10 years in prison and a fine of $250,000 for each of the three counts of monetary transactions with proceeds of specified unlawful activity.
Whoever, knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, conducts or attempts to conduct such a financial transaction which involves the proceeds of specified unlawful activity— (A)(i) with the intent to promote the carrying on of specified unlawful activity; or