“Proceeds” of Crime in Money Laundering: A New Breakthrough from U.S. v. Santos

“Proceeds” of Crime in Money Laundering: A New Breakthrough from U.S. v. Santos

 

Title
“Proceeds” of Crime in Money Laundering: A New Breakthrough from U.S. v. Santos
Author
Chih-Chieh Lin
Keywords
Money Laundering, Proceeds, Profits, Receipts, Forfeiture
Abstract
How to prevent and combat large-scale financial crimes has become the most
critical criminal issue in many countries. To combat financial crimes, U.S. Congress
passed Money Laundering Control Act of 1986, which prohibits the use of
the “proceeds” of criminal activities for various purposes, including engaging in,
and conspiring to engage in, transactions intended to promote the carrying on of
unlawful activity. However, what “proceeds” mean was undefined in the act. Various
interpretations of “proceeds” by the Circuits caused the disorder of law enforcement.
This article analyzes the latest issue of the Money Laundering Control
Act through analyzing U.S. v. Santos and the following response from the U.S.
Congress, and hopes to respond to the challenges of financial crimes in the contemporary
Taiwanese society.
Abstract Article

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