Money Laundering Legislation related to the
September 11th attacks
2003 Legislation || 2002 Legislation || 2001 Legislation
Updated July 17, 2003
External links if available
2003 Legislation
Alabama
H.B. 344
Creates the crime of money laundering and provides penalties.
S.B. 312
Creates the crime of money laundering and provides penalties.
California
A.B. 34
Provides that if the criminal activity that is involved in prohibited money laundering includes terrorist related-acts defined under certain felony provisions related to weapons of mass destruction or biological agents, a person convicted of money laundering as a felony would be punished by imprisonment in state prison for an increased term, as specified. Declares that prosecution for money laundering does not limit the prosecution of a defendant as a principal, including as an aider or abettor, in the criminal acts underlying the money laundering.
Illinois
S.B. 265
Sent to governor 6/6/03
Amends the Criminal Code of 1961. Provides that the theft of property exceeding $500,000 in value and the laundering of criminally derived property of a value exceeding $500,000 is a Class 1 non-probationable felony (rather than a Class X felony). In the provisions concerning money laundering, deletes from the new definition of "criminally derived property" "expressly or impliedly".
Massachusetts
H.B. 2742
Relates to the crime of money laundering.
S.B. 152
Relates to money laundering.
S.B. 166
Establishes the crime of money laundering.
New York
A.B. 1294
Establishes crimes for money laundering for terrorism, and the use and possession of chemical or biological weapons, and placement of devices appearing to be such weapons.
S.B. 3
Creates the crimes for money laundering for terrorism and the criminal possession and use of a chemical or biological weapon.
S.B. 1316
Enacts provisions to counter and prohibit money laundering; defines relevant terms; requires the superintendent of banking to establish certain rules and regulations and report certain suspicious activities.
S.B. 2265
Increases penalties for certain illegal activities of licensed and unlicensed money transmitters; amends definition of money laundering to include certain violations of the banking law and provides for issuance eavesdropping and video surveillance warrants to detect certain crimes involving money transmission.
Virginia
H.B. 1928
Signed by governor 3/18/03, Chapter 541
S.B. 1135
Signed by governor 3/24/03, Chapter 549
Requires a financial institution or credit card issuer to disclose bank records or credit card information concerning a customer upon the issuance of a subpoena duces tecum. Provision is made for the financial institution or credit card issuer to move to quash or modify the subpoena duces tecum if compliance would cause an undue burden and for holding harmless the financial institution or credit card issuer or its employees for releasing such information or records pursuant to an order. The statement of facts documenting the reasons the records or information are sought will be sealed upon issuance of the subpoena duces tecum, and the use of such records or information is limited to the investigation and legitimate law-enforcement purposes. At the end of the investigation the records or information will be sealed. A provision is added allowing seizure of certain property used in money laundering and punishable as a felony under the laws of another state or territory of the United States, the District of Columbia, or the United States.
2002 Legislation
Arizona
S.B. 1427
Signed by governor 5/15/02, Chapter 219
Relates to domestic security; provides for investigations of racketeering and money laundering by terrorist groups; permits wiretaps; adds terrorism to murder statutes; relates to biological weapons and weapons of mass destruction; relates to falsification of financial documents and personal identifying information; provides for joint and severable liability and restitution for terrorism hoaxes; requires reports to the attorney general.
California
A.B. 2107
Provides that if the criminal activity that is involved in the prohibited money laundering includes certain terrorist related acts defined under specified law, the person convicted is to be punished by imprisonment in state prison for a term of 10, 15, or 25 years.
Florida
H.B. 539
S.B. 274
Amends requirements for maintaining records under the Florida Control of Money Laundering in Financial Institutions Act.
Illinois
H.B. 2299
Bill Dead - Amendatory Veto 3/6/02
Provides that money laundering also includes financial transactions that do not involve criminally derived funds but in which the funds are used to conduct or facilitate specified unlawful activity.
H.B. 4072
Makes a technical change in a Section concerning money laundering.
H.B. 5658
Provides that any property expressly or impliedly represented to be property constituting or derived from proceeds obtained, directly or indirectly, pursuant to a violation of the Criminal Code of 1961, the Illinois Controlled Substances Act, or the Cannabis Control Act is criminally derived property in the money laundering statute. Provides that laundering criminally derived property in excess of $500,000 is a Class X felony (rather than a Class 1 felony).
Indiana
H.B. 1001
Signed by governor 3/26/02, Chapter 123
Establishes or enhances various criminal penalties for disorderly conduct on airport premises, use of the identity of another person with the intent to commit terrorism or to obtain a weapon of mass destruction, money laundering with the intent to further terrorism, possession of a weapon of mass destruction with the intent to carry out terrorism, dissemination of a substance with the intent to cause a person to believe that the substance is a weapon of mass destruction, or interruption or impairment of work conducted in a food processing facility.
Maryland
S.B. 716
Adding specified money laundering offenses relating to the proceeds of drug crimes to those crimes for which evidence may be gathered by interception of oral, wire, or electronic communications under specified circumstances; adding specified money laundering offenses relating to the proceeds of drug crimes to those crimes for which specified persons may apply to a judge for an order authorizing the interception of oral, wire, or electronic communications.
Michigan
H.B. 5509
Signed by governor 4/9/02, Public Act 136
Amends the Michigan Penal Code to include a violation of Chapter 83-A (Terrorism), proposed by Senate Bill 930, in the definition of "specified criminal offense" under the Code's money laundering provisions. Under the bill, it would be a crime to receive or acquire a monetary instrument or other property that constituted the proceeds or substituted proceeds of a terrorism offense prohibited by Chapter 83-A, if the offender met the knowledge element of the money laundering offense.
Missouri
S.B. 712
Signed by governor 7/1/02
Current law prohibits money laundering. This act expands the crime to include currency transactions that are conducted or attempted in order to promote or aid the carrying on of criminal activity to further terrorism (Section 574.105).
New Jersey
A.B. 150
Establishes the New Jersey Money Laundering Study Commission to study the nature and operations of money laundering in this state and its connection to other states and the international setting, review existing federal and state laws dealing with money laundering and propose new state legislation, as appropriate.
A.B. 1650
Requires financial institutions and persons licensed to cash checks to file a report of any suspicious transaction with the Commissioner of Banking and Insurance. Defines a "suspicious transaction" as a transaction which: (1) involves funds derived from illegal activities, or is intended or conducted in order to conceal or disguise funds or assets derived from illegal activities; (2) involves funds which are reasonably suspected of being used in any phase of committing, concealing or escaping from an act of terrorism, regardless of whether the act of terrorism was committed or intended to be committed; (3) is part of a plan to violate or evade any law or regulation or to avoid any transaction reporting requirement under the law or regulations of this State or the United States, including a plan to structure a series of transactions to avoid any transaction reporting requirement under the laws or regulations of this State or the United States; or (4) has no business or other apparent lawful purpose or is not the sort of transaction in which a person would normally be expected to engage and the licensee or person knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction.
S.B. 617
Requires financial institutions and any person who is licensed to cash checks pursuant to the Check Cashers Regulatory Act of 1993, (N.J.S.17:15A-30 et seq.) to submit to the Department of Banking and Insurance, as well as to the office of the attorney general, a report of certain records of transactions involving currency or monetary instruments in order to deter the use of financial institutions to conceal proceeds from criminal activity.
New York
A.B. 10413
S.B. 6491
Enacts provisions to counter and prohibit money laundering.
S.B. 7631
Establishes crimes for money laundering for terrorism, and the use and possession of chemical or biological weapons, and placement of devices appearing to be such weapons.
2001 Legislation
Michigan
S.B. 952
Provides for the inclusion of specified criminal offenses, including the crime of money laundering and terrorism.
New Jersey
A.B. 3828
Requires financial institutions and persons licensed to cash checks to file a report of any suspicious transaction with the commissioner of Banking and Insurance. A "suspicious transaction" is defined as a transaction which: (1) involves funds derived from illegal activities, or is intended or conducted in order to conceal or disguise funds or assets derived from illegal activities; (2) involves funds which are reasonably suspected of being used in any phase of committing, concealing or escaping from an act of terrorism, regardless of whether the act of terrorism was committed or intended to be committed; (3) is part of a plan to violate or evade any law or regulation or to avoid any transaction reporting requirement under the law or regulations of this state or the United States, including a plan to structure a series of transactions to avoid any transaction reporting requirement under the laws or regulations of this state or the United States; or (4) has no business or other apparent lawful purpose or is not the sort of transaction in which a person would normally be expected to engage and the licensee or person knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction.
 Terrorism Preparedness & Response
NCSL Contact: Heather Morton, heather.morton@ncsl.org
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