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Criminal Proceeds: When Does the “Taint” Expire?  

Author:  Thomas Firestone.; Terence Gilroy.

Source: Volume 54, Number 20, November 15 2021 , pp.251-253(3)

Review of Securities & Commodities Regulation

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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.

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