HB390 Alabama 2012 Session

Summary

Primary Sponsor

Rod Scott

Democrat

Session

Regular Session 2012

Title

Crimes and offenses, crime of money laundering provided for and penalties

Summary

HB390 creates the crime of money laundering in Alabama and sets penalties for using or moving proceeds from unlawful activity.

What This Bill Does

If enacted, it makes money laundering a Class C felony when someone knowingly conducts or facilitates a financial transaction that involves illicit proceeds. It defines key terms like financial transaction, financial institution, and proceeds of unlawful activity, and outlines actions that can constitute the crime, such as concealing the source of funds or avoiding reporting requirements. It also adds a separate provision for transporting or transferring large sums of money across borders with intent to promote crime or conceal origins, carrying similar penalties. The bill includes a note about local-funding requirements, stating it is exempt from certain constitutional limits because it creates a new crime.

Who It Affects

• Individuals who knowingly conduct or facilitate financial transactions with proceeds from unlawful activity (they could face a Class C felony).
• Financial institutions and professionals who handle monetary instruments or transactions, since the bill defines these activities and sets penalties for improper conduct.

Key Provisions

• Section 1 defines terms such as conducts, financially institution, financial transaction, monetary instrument, and proceeds of unlawful activity, plus what counts as specified unlawful activity.
• Section 2 establishes the crime of money laundering as a Class C felony for knowingly conducting or attempting to conduct financial transactions involving proceeds of unlawful activity, with acts like promoting unlawful activity, concealing proceeds, or avoiding reporting requirements.
• Section 2 also covers transporting or transferring monetary instruments or funds across borders (or within the U.S. to/from outside) with intent to promote unlawful activity or to conceal/avoid reporting.
• Section 3 creates a separate offense for monetary transactions involving criminally derived property over $10,000, with certain circumstances (including cross-border or U.S. citizen context) and without needing to prove knowledge of the underlying crime.
• Section 4 explains the bill is exempt from certain local-funding requirements because it defines a new crime, but is still enforceable as law.
• Section 5 states the act becomes effective on the first day of the third month after passage and governor approval.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Crimes and Offenses