You also have to ask if money laundering is bad enough of a crime to warrant all of the overkill responses to it. At some point the medicine becomes worse than the disease. Lawmakers tend to get into these inescapable loops:
Crime X exists -> Try solution Y -> Crime X still exists -> Try harsher solution Y0 -> Crime X still exists -> Try harsher solution Y1 -> Crime X still exists -> Try harsher solution Y2...
I think the problem here might be that while Crime by its definition might be the same, the way that it is executed changes drastically so Solution Y/Y0/Y1/Y2 are not required to exist in terms of severity (very likely solution Y was severe enough if you were tried and convicted of the crime) but they are needed because the way Crime X is executed changes (especially this Crime X)
Crime X exists -> Try solution Y -> Crime X still exists -> Try harsher solution Y0 -> Crime X still exists -> Try harsher solution Y1 -> Crime X still exists -> Try harsher solution Y2...