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What are the key anti-money laundering laws in the United States?

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What are the key anti-money laundering laws in the United States?

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Money laundering has been defined as “the movement of illicit cash or cash equivalent proceeds into, out of, or through the United States [or] … United States financial institutions.”2 Anti-money laundering laws also apply to terrorist financing, including any funds that are legally obtained if they are intended for use in the planning, committing, or concealing a terrorist act.3 History has shown that financing has a critical role in terrorism, corruption, and other criminal acts. Money launderers and terrorists want to be able to transfer funds across international lines, move money quickly, and minimize inquiries into their finances and activities. U.S. anti-money laundering laws are designed to prevent terrorists and other criminals from utilizing U.S. financial institutions to commit their crimes. Three key laws lay out the basic anti-money laundering obligations of U.S. financial institutions, the Bank Secrecy Act of 1970, the Money Laundering Control Act of 1986, and the USA P

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