With the prosecution resting on a civil complaint charging Gold and Silver Reserve, Inc. with operating as an unlicensed money-transmitting business, Jackson finally acquiesced in July 2008 and plead guilty to conspiracy to commit money laundering (a victimless crime) and operation of an unlicensed money transmitting business rather than the alternative threat of 20 years in jail and a half million dollar fine.
These costs might all be worth it if there were any proof that anti-money-laundering laws lowered crime rates.
"Money laundering is a complex crime and one which HMRC is tackling, " said the HMRC spokeswoman.
The aim of this initiative is to combat drug trafficking, transnational crime and money laundering.
Not all proposed sales of FINRA member firms get shot down because of organized crime or money laundering concerns.
FORBES: Brokerage Firm Sale Runs Afoul of FINRA Private Securities Transaction Rule
And the U.S. Sentencing Commission reported that only 715 people were sentenced in 2000 for the crime of money laundering (an additional 800 people were sentenced for money laundering plus another offense).
In November, a Nicaraguan judge found Puracal guilty of money laundering, drug trafficking and organized crime and sentenced the American to 22 years.
The 49-year-old was sentenced by a court in Sofia last month to seven-and-a-half years in jail after being found guilty of heading an organised crime gang and money laundering.
The legislation also authorizes the U.S Government to offer rewards for information leading to the arrest or conviction of individuals involved in transnational organized crime, such as money laundering and trafficking in persons, arms, and illicit goods.
They have also helped in countering organised crime and in tracking money-laundering.
Money laundering is the process of disguising the proceeds of crime so that the money cannot be linked to the wrongdoing.
Lawmakers should give serious thought to junking the current anti-money-laundering system and figuring out smarter ways to fight crime.
By contrast, with money laundering, the cash has to be related to an underlying crime.
It is conceivable that some of the companies livedoor acquired were in the pocket of yakuza crime syndicates, for instance, which used them for money-laundering.
Their actual crime was not following the paperwork regulations about money transfers, not money laundering itself.
FORBES: Regulating Against Too Big To Fail Is Going To Increase Too Big To Fail
We decided to strengthen efforts to prevent and combat other transnational crimes, such as illicit drug trafficking, trafficking in persons, people smuggling, money laundering, arms smuggling, sea piracy, armed robbery against ships, cybercrime and other forms of international economic crime in accordance with national laws and regulations.
WHITEHOUSE: Joint Statement of the 4th ASEAN-U.S. Leaders' Meeting
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