(a) (1) The General Assembly finds that the State of Arkansas is experiencing an increase in crime committed by criminal gangs, organizations, or enterprises.
(2) These criminal gangs, organizations, or enterprises support themselves by engaging in criminal activity for profit, most commonly through the distribution of controlled substances and by theft of property.
(b) (1) The General Assembly further finds that with increasing frequency, criminals are using sophisticated means of concealing criminal proceeds and in most cases moving criminal proceeds out of Arkansas.
(2) (A) In order to reap the rewards of their criminal conduct, criminals must conceal the source of the criminal proceeds and the identity of the individuals who work to obtain the criminal proceeds.
(B) They convert the criminal proceeds to property or assets that appear to have come from a legitimate source.
(C) (i) Often they must maintain the property or assets in another person's name.
(ii) This also helps them to avoid detection, identification, and seizure.
(3) (A) While individual criminals launder their criminal proceeds, this is particularly common among members and associates of criminal gangs, organizations, and enterprises.
(B) There is strong evidence that this increased sophistication is due largely to contact with other criminal gangs, organizations, or enterprises from other states.
(c) The General Assembly further finds that we cannot afford to allow millions of dollars in untaxed criminal proceeds to be taken from the state's economy each year.
(d) The intent of the General Assembly is to enact penalties that will:
(1) Deter and punish the criminal use of property or the laundering of criminal proceeds; and
(2) Facilitate the investigation of the criminal use of property or the laundering of criminal proceeds.
Section: 5-42-202 5-42-203 5-42-204 5-42-205 NextLast modified: November 15, 2016