Money Laundering is an action taken to conceal the origin of illegally obtained money. We will be discussing a key element in a money laundering charge, which requires the government to establish that the assets in question are linked to a specified unlawful activity (SUA). SUA is a legal term that refers to a statutory list of crimes, and proceeds derived from crimes not on that list cannot be laundered. A money laundering charge in an indictment can drastically inflate the government’s ability to forfeit a defendant’s assets. We will discuss why it is crucial to know when a case involves money laundering and when it does not. Structuring is a term used to describe a violation of 31 U.S.C. §5324, which prohibits the act of evading reporting requirements. 31 U.S.C. §5324(a), the most commonly violated section of the statute, deals with transactions involving financial institutions. We will review how this section is split into three subparts, each of which defines a different type of structuring charge. The IRS and DOJ have been using the structuring statute as a means for obtaining civil and criminal asset forfeitures, We will be reviewing the differences between the subparts – specifically between §5324(a)(1) and §5324(a)(3). We will also be discussing the scrutiny that assets forfeitures based on structuring violations have been receiving, and the recent DOJ and IRS policy changes.
Money Laundering is an action taken to conceal the origin of illegally obtained money. We will be discussing a key element in a money laundering charge, which requires the government to establish that the assets in question are linked to a specified unlawful activity (SUA). SUA is a legal term that refers to a statutory list of crimes, and proceeds derived from crimes not on that list cannot be laundered. A money laundering charge in an indictment can drastically inflate the government’s ability to forfeit a defendant’s assets. We will discuss why it is crucial to know when a case involves money laundering and when it does not. Structuring is a term used to describe a violation of 31 U.S.C. §5324, which prohibits the act of evading reporting requirements. 31 U.S.C. §5324(a), the most commonly violated section of the statute, deals with transactions involving financial institutions. We will review how this section is split into three subparts, each of which defines a different type of structuring charge. The IRS and DOJ have been using the structuring statute as a means for obtaining civil and criminal asset forfeitures, We will be reviewing the differences between the subparts – specifically between §5324(a)(1) and §5324(a)(3). We will also be discussing the scrutiny that assets forfeitures based on structuring violations have been receiving, and the recent DOJ and IRS policy changes.
IRS CE: 1 Hours/Federal Tax Law Update
NASBA CE: 1 Hours/Federal Tax Law Update
CTEC CE: 1 Hours/Federal Tax Law Update
NSA ConnectED Webinar CPE Bonanza
Program Level: Basic
Prerequisites: None
Advance Preparation: None
Delivery Method: Group-Internet Based