basic money laundering provision

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)