As seen on:
1610 Southern Blvd.
West Palm Beach, FL
Board Certified Criminal Trial Specialist
There are two money laundering statutes. They are found in 18 USC Section 1956 and Section 1957. The following elements are included in the section 1957:
1. Defendant must engage in a monetary transaction;
2. Involving more than $10,000 in tainted funds;
3. Defendant must know the funds are from a criminal activity; and
4. Funds are from a specific unlawful activity.
Generally, this section of the statute is used regarding a transaction at a financial institution such as a bank. Also, it is utilized regarding offenses under the RICO Act including drug offenses, mail fraud, wire fraud, and bank fraud.