Domestic Money Laundering

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Domestic Money Laundering is when an individual or entity is prohibited from:

Conducting or attempting to conduct financial transactionsInvolving the proceeds of “specified unlawful activity”Knowing that the proceeds are criminally derivedHas any of the engages in the following characteristics:With the intent to promote that specified unlawful activitywith the intent to violate certain tax lawsWith knowledge that the transaction is designed to concealTo Disguise the location, source, ownership, control of the proceeds of a specified unlawful activityWith knowledge that the transaction is designed to avoid a reporting requirement under federal or state lawSource: https://complianceconcourse.willkie.com/resources/anti-money-laundering-us-money-laundering-control-act