H-3999              _______________________________________________

                                                   HOUSE BILL NO. 1989

                        _______________________________________________

State of Washington                              49th Legislature                              1986 Regular Session

By Representatives Isaacson, P. King, Winsley, Nealey, Fuhrman, West, May, Lewis, Crane, Patrick and Tilly

Read first time 1/24/86 and referred to Committee on Financial Institutions & Insurance.

AN ACT Relating to drug trafficking; adding a new chapter to Title 9A RCW; and prescribing penalties.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.     (1) Any financial institution in this state, that conducts a transaction or series of transactions involving one or more monetary instruments, involving instruments with a value in excess of one hundred thousand dollars, any part of which is derived from unlawful production or sales of narcotics or dangerous drugs, shall be fined not more than two hundred fifty thousand dollars or twice the value of the monetary instruments, whichever is greater, for the first offense, and not more than one million dollars or five times the value of the monetary instruments, whichever is greater, for each additional offense.

          (2) Any officer, director, or employee of a financial institution in this state, who launders money, as defined in  subsection (1) of this section with knowledge that the monetary instruments represent income derived, directly or indirectly, from unlawful production or trafficking in illegal narcotics and dangerous drugs, shall be imprisoned for a period of five years for the first offense, and for a period of ten years for each additional offense.

          (3) Any financial institution in this state found guilty of laundering funds derived from narcotics trafficking, as defined in subsection (1) of this section, shall forfeit all moneys laundered, plus any proceeds derived therefrom.  The funds so forfeited shall become the property of the state, to be deposited in the state's general fund.

NEW SECTION. Sec. 2.     Section 1 of this act shall constitute a new chapter in Title 9A RCW.