The state of Wisconsin has on March 3 signed SB 368 indicating that money laundering has become a serious crime in the state and attract severe penalties which depend on the amount of proceeds from the crime. The SB 368 has identified that any transaction with where the proceed of money laundering is more than $2,500 is a felony. The signed bill is expected to be effective from March 5 and contains a detailed provision of prohibited conducts and a knowledge of requirement.
