Money Laundering - Proceeds of a Specified Unlawful Activity Defined (revised 2013)

• Category: Federal - Jury Instructions - 5th Circuit - Criminal - Money Laundering
• State: Multi-State
• Control #: US-3RDCIR-6-18-1956-3-CR
• Format: Word

Description

Money Laundering - Proceeds of a Specified Unlawful Activity Defined (revised 2013) Source: http://www.ca3.uscourts.gov/model-criminal-jury-table-contents-and-instructions Money Laundering — Proceeds of a Specified Unlawful Activity Defined (revised 2013) is a term used to describe the practice of illegally obtaining money and disguising it as legitimate income. It is also referred to as ‘laundering’. Money laundering is often done by criminals who have acquired their money through unlawful activities such as drug trafficking, prostitution, fraud, extortion, embezzlement and bribery. There are four main types of money laundering: placement, layering, integration and reinvestment. Placement involves transferring money from the original source to another financial institution. Layering is the process of converting the illegally obtained money into other forms such as investments or assets to obscure its origin. Integration involves introducing the illegally obtained funds back into the financial system by making them appear to be legitimate. Finally, reinvestment is the process of using the money to generate more income. Money laundering activities are prohibited and punishable under the Anti-Money Laundering (AML) laws of many countries. It is important for financial institutions to implement measures to detect and prevent money laundering activities. These include customer due diligence, KYC (Know Your Customer) checks, suspicious activity monitoring and reporting.

Money Laundering — Proceeds of a Specified Unlawful Activity Defined (revised 2013) is a term used to describe the practice of illegally obtaining money and disguising it as legitimate income. It is also referred to as ‘laundering’. Money laundering is often done by criminals who have acquired their money through unlawful activities such as drug trafficking, prostitution, fraud, extortion, embezzlement and bribery. There are four main types of money laundering: placement, layering, integration and reinvestment. Placement involves transferring money from the original source to another financial institution. Layering is the process of converting the illegally obtained money into other forms such as investments or assets to obscure its origin. Integration involves introducing the illegally obtained funds back into the financial system by making them appear to be legitimate. Finally, reinvestment is the process of using the money to generate more income. Money laundering activities are prohibited and punishable under the Anti-Money Laundering (AML) laws of many countries. It is important for financial institutions to implement measures to detect and prevent money laundering activities. These include customer due diligence, KYC (Know Your Customer) checks, suspicious activity monitoring and reporting.