Section 97-23-101 - Laundering of monetary instruments; offense; penalties; effect of federal conviction(1)(a) Whoever, knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, conducts or attempts to conduct such a financial transaction which in fact involves the proceeds of specified unlawful activity: (i)1. With the intent to promote the carrying on of specified unlawful activity; or2. With intent to engage in conduct constituting a violation of Section 7201 or 7206 of the Internal Revenue Code of 1986; or(ii) Knowing that the transaction is designed in whole or in part:1. To conceal or disguise the nature, the location, the source, the ownership, or the control of the proceeds of specified unlawful activity; or2. To avoid a transaction reporting requirement under state or federal law, shall be sentenced to a fine of not more than Five Hundred Thousand Dollars ($500,000.00) or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty (20) years, or both.(b) Whoever transports, transmits, or transfers, or attempts to transport, transmit, or transfer a monetary instrument or funds from a place in the state to or through a place outside the state or to a place in the state from or through a place outside the state; (i) With the intent to promote the carrying on of specified unlawful activity; or(ii) Knowing that the monetary instrument or funds involved in the transportation represent the proceeds of some form of unlawful activity and knowing that such transportation is designed in whole or in part:1. To conceal or disguise the nature, the location, the source, the ownership, or the control of the proceeds of specified unlawful activity; or2. To avoid a transaction reporting requirement under state or federal law, shall be sentenced to a fine of Five Hundred Thousand Dollars ($500,000.00) or twice the value of the monetary instrument or funds involved in the transportation, whichever is greater, or imprisonment for not more than twenty (20) years, or both.(c) Whoever, with the intent:(i) To promote the carrying on of specified unlawful activity;(ii) To conceal or disguise the nature, location, source, ownership, or control of property believed to be the proceeds of specified unlawful activity; or(iii) To avoid a transaction reporting requirement under state or federal law, conducts or attempts to conduct a financial transaction involving property represented by a law enforcement officer to be the proceeds of specified unlawful activity, or property used to conduct or facilitate specified unlawful activity, shall be fined under this title or imprisoned for not more than twenty (20) years, or both. For purposes of this paragraph, the term "represented" means any representation made by a law enforcement officer or by another person at the direction of, or with the approval of, a government official authorized to investigate or prosecute violations of this section.(2) Whoever conducts or attempts to conduct a transaction described in subsection (1)(a), or a transportation described in subsection (1)(b), is liable to the state for a civil penalty of not more than the greater of:(a) The value of the property, funds, or monetary instruments involved in the transaction; or(b) Ten Thousand Dollars ($10,000.00).(3) As used in this section:(a) The term "knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity" means that the person knew the property involved in the transaction represented proceeds from some form, though not necessarily which form, of activity that constitutes a felony under state or federal law;(b) The term "conducts" includes initiating, concluding, or participating in initiating, or concluding a transaction;(c) The term "transaction" includes a purchase, sale, loan, pledge, gift, transfer, delivery, or other disposition, and with respect to a financial institution includes a deposit, withdrawal, transfer between accounts, exchange of currency, loan, extension of credit, purchase or sale of any stock, bond, certificate of deposit, or other monetary instrument, or any other payment, transfer, or delivery by, through, or to a financial institution, by whatever means effected;(d) The term "financial transaction" means a transaction involving the movement of funds by wire or other means or involving one or more monetary instruments, which in any way or degree affects interstate or foreign commerce, or a transaction involving the use of a financial institution which is engaged in, or the activities of which affect, interstate or foreign commerce in any way or degree;(e) The term "monetary instruments" means coin or currency of the United States or of any other country, travelers' checks, personal checks, bank checks, money orders, investment securities in bearer form or otherwise in such form that title thereto passes upon delivery, and negotiable instruments in bearer form or otherwise in such form that title thereto passes upon delivery;(f) The term "financial institution" has the definition given that term in Section 5312(a)(2) of Title 31, United States Code, and the regulations promulgated thereunder.(4) Nothing in this section shall supersede any provision of federal, state, or other law imposing criminal penalties or affording civil remedies in addition to those provided for in this section.(5) Violations of this section may be investigated by the Attorney General.(6) If a person is convicted of a federal violation of laundering of monetary instruments, such person shall not be prosecuted under this section for the same set of facts which resulted in the federal conviction. Laws, 1998, ch. 475, § 1, eff. 7/1/1998.