Money Laundering Act of 2001
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Financial Institutions and Consumer Credit.
Money Laundering Act of 2001 - Modifies money laundering provisions of various laws, including the Federal criminal code (the code), the Internal Revenue Code, the Controlled Substances Act, the Federal Deposit Insurance Act (FDIA), and the Immigration and Nationality Act (INA). Grants the U.S. district courts jurisdiction over money laundering offenses of certain foreign persons. Expands the definition of "specified unlawful activity" to cover certain listed offenses, including computer fraud and abuse, fraud in the purchase of securities, certain Clean Air Act violations, alien smuggling, and wildlife protection offenses. Prohibits knowingly concealing, with intent to evade a currency reporting requirement, more than $10,000 in currency or other monetary instruments on an individual's person or in any conveyance, article of luggage, merchandise, or other container and transporting or transferring such currency or monetary instruments from a place within, to a place outside, the United States, or vice versa. Sets forth penalties for violations. Modifies civil and criminal forfeiture provisions, including to provide that if the seizure warrant is obtained after the property to be seized has been listed in an indictment, criminal information, or related bill of particulars, the requirement that the warrant be executed within ten days shall not apply. Amends: (1) the FDIA and specified monetary law to increase civil and criminal penalties for violation of record-keeping requirements; and (2) the INA to include as an excludable alien any individual who is engaged in money laundering activities.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on October 2, 2001. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on November 2, 2001: Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 107th Congress (2001-02), 377 of the 9,126 bills and joint resolutions introduced became law, about 4.1 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
MARGE ROUKEMA (R-NJ) introduced it on October 2, 2001. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on October 2, 2001, 9109 days ago. The most recent recorded action was 9078 days ago, on November 2, 2001.
Measures do not carry over. Anything the 107th Congress has not finished by January 3, 2003 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers