The head of a powerful Senate panel introduced legislation Thursday that would empower law enforcement to seize undeclared prepaid value at U.S. borders and enable federal prosecutors to charge suspected income tax evaders with money laundering. The bill, as proposed by Senate Judiciary Committee Chairman Chuck Grassley (R-IA) and Sen. Dianne Feinstein (D-CA), the committee's ranking member, would also permit courts to impose 30-day asset freezes on the bank accounts of persons caught moving undeclared money across international borders to give investigators time to determine if the funds are illicit in nature. Multiple sections of the bill would raise the...
A longtime congressional advocate of tough financial crime laws will soon use his new Senate chairmanship to push a measure that would expand the U.S. list of specified unlawful activities.
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