Bill That Would Counter Supreme Court Decision on Laundering Likely to Pass, Say Legal Experts

By Matt Squire

A Congressional bill intended to counter a Supreme Court decision that scaled back the definition of money laundering will likely become a law, say legal experts. The measure, introduced by the U.S. Justice Department, answers the June 2 ruling in United States v. Efrain Santos that only the disguising of criminal profits constituted money laundering. Department officials said the 5-4 decision has hamstrung money laundering cases by requiring investigators to forensically discern between the net and gross proceeds of criminal operations. The department's bill, which is "literally one sentence," defines profits in the Money Laundering Control Act as gross and...