Proposals to Reform the Federal Money Laundering Statutes
page 25
APPENDIX B
§ 1957. Engaging in monetary transactions in property derived from specified unlawful activity (a) Whoever, other than a person who was involved in the specified unlawful activity, in any of the circumstances set forth in subsection (d) (c), knowingly engages or attempts to engage in a monetary transaction in criminally derived property of a value greater than $10,000 $25,000, and knowing that the property is derived from specified unlawful activity some form of unlawful activity, which property in fact is derived from specified unlawful activity as defined in section 1956(c)(7), shall be punished as provided in subsection (b). (b)(1) Except as provided in paragraph (2), the punishment for an offense under this section is a fine under title 18, United States Code, or imprisonment for not more than ten years one year or both. (2) The court may impose an alternate fine to that imposable under paragraph (1) of not more than twice the amount of the criminally derived property involved in the transaction. (2) If the defendant engages in a pattern of three or more violations of this section involving more than $500,000 within a 12-month period, the punishment is a fine under title 18, United States Code, or imprisonment for not more than five years or both. (c) In a prosecution for an offense under this section, the Government is not required to prove the defendant knew that the offense from which the criminally derived property was derived was specified unlawful activity.
(d) (c) The circumstances referred to in subsection (a) are —
(1) that the offense under this section takes place in the United States or in the special maritime and territorial jurisdiction of the United States; or
Made with FlippingBook Online document maker