Criminal Proceeds: When Does the “Taint” Expire?
Author: Thomas Firestone.; Terence Gilroy.
Source: Volume 54, Number 20, November 15 2021 , pp.251-253(3)
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Abstract:
The authors begin by giving an overview of the elements of criminal money laundering under U.S. law and consider when a person is deemed to have knowledge that a transaction involves the proceeds of crime. They then suggest criteria to apply in determining whether assets remain tainted as the connection with criminal activity becomes more attenuated.Keywords: Criminal Money Laundering Under 18 U.S.C. 1956; Bona Fide Recipients; Good Faith Attempt to Determine Proceeds of Crime
Affiliations:
1: Baker & McKenzie LLP; 2: Baker & McKenzie LLP.