A bill to amend title 18, United States Code, to create an offense prohibiting the laundering of money in the furtherance of criminal activities.
Money Laundering Crimes Act - Amends the Federal criminal code to establish money laundering as a Federal criminal offense. Sets forth fines and penalties to be imposed against anyone who conducts transactions involving monetary instruments through a financial institution engaged in or affecting interstate commerce: (1) with the intention of carrying out specified types of unlawful activity; or (2) with knowledge that such monetary instruments represent income derived from such unlawful activity. Requires investigation of such an offense by the Federal Bureau of Investigation, the Drug Enforcement Administration, and the Internal Revenue Service, as appropriate. Establishes extraterritorial jurisdiction over such prohibited conduct.
Introduced in Senate
Read twice and referred to the Committee on Judiciary.
Referred to Subcommittee on Criminal Law.
Committee on Judiciary requested executive comment from Justice Department.
Committee on Judiciary requested executive comment from Treasury Department.
Committee on Judiciary. Subcommittee on Criminal Law discharged from further consideration thereof.
Committee on Judiciary. Hearings held. Hearings printed: S.Hrg. 99-540.
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