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Senate Passes Bill that Would Expand Definition of Money Laundering
By Larissa Bernardes
printThe Senate passed a measure Tuesday that would expand the U.S. definition of money laundering and make tax evasion a predicate to the crime. The measure, which focuses on increasing resources dedicated to fighting mortgage fraud, would broaden anti-money laundering laws to include funds tied to, but not the direct profit of, crimes. The Congressional house approved the bill, known as the Fraud Enforcement and Recovery Act of 2009, by a 92-4 vote. The U.S. House of Representatives has yet to vote on the measure but is likely to pass it "given the importance of several issues [in the bill],"...
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