Occurs with virtually any form of financial transaction involving funds associated with statutorily specified unlawful activity. There are two federal money laundering statutes, Title 18 USC word section 1956 and 1957. Each of them contains different levels of criminal conduct, all involving financial transactions from criminally derived property. Section 1956 carries a 20 year maximum imprisonment punishment; section 1957 carries a 10 year maximum imprisonment punishment. Money laundering entails processing cash from illegal activities through a legitimate business, disguising the ill-gotten cash as legitimate profits. Any cash-based business that assists a criminal operation in this manner can face severe criminal penalties for money laundering.
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