Money Laundering Control Act
The Money Laundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made money laundering a federal crime. It was passed in 1986. It consists of two sections, 18 U.S.C. § 1956 and 18 U.S.C. § 1957. 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 intend in making the transaction to conceal the source, ownership or control of the funds. There is no minimum threshold of money, nor is there the requirement that the transaction succeed in actually disguising the money. Moreover, a “financi
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Money Laundering Control Act
The Money Laundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made money laundering a federal crime. It was passed in 1986. It consists of two sections, 18 U.S.C. § 1956 and 18 U.S.C. § 1957. 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 intend in making the transaction to conceal the source, ownership or control of the funds. There is no minimum threshold of money, nor is there the requirement that the transaction succeed in actually disguising the money. Moreover, a “financi
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The Money Laundering Control A ...... rough a financial institution.
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Wikipage page ID
Wikipage revision ID
589,202,980
agreedbody
agreeddate
1986-10-17
agreedvote
unanimous consent
cite public law
cite statutes at large
aka 100 Stat. 3207-18
committees
effective date
1986-10-27
enacted by
introducedby
James C. Wright Jr.
introduceddate
1986-09-08
introducedin
leghisturl
longtitle
An Act to strengthen Federal e ...... forts, and for other purposes.
Nickname
Anti-Drug Abuse Act of 1986
othershorttitles
Alcohol and Drug Abuse Amendments of 1986
Money Laundering Control Act of 1986
passedbody
passeddate
1986-09-11
1986-09-30
public law url
sections amended
sections created
shorttitle
Money Laundering Control Act
signeddate
1986-10-27
signedpresident
title amended
subject
hypernym
type
comment
The Money Laundering Control A ...... he money. Moreover, a “financi
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label
Money Laundering Control Act
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