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Committee approves anti–money-laundering bill as members seek tighter limits on scope
Summary
Lawmakers advanced Senate File 116 to create a state anti–money-laundering offense after consultants flagged gaps connected to recent gaming industry growth; members asked for narrower language to avoid unintended consequences.
The House Judiciary Committee voted to advance Senate File 116, establishing a state money-laundering offense that lawmakers said is needed as gaming activity expands in the state.
Senator Nethercott, sponsor of the bill, told the committee consultants who reviewed the state’s gaming laws recommended adopting anti–money-laundering language used in other states. He said the draft borrows heavily from a New Jersey model and would criminalize conduct such as structuring, financial transactions intended to conceal the criminal source of…
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