§ 5326. Records of certain domestic transactions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1988

   Money Laundering Prosecution Improvements Act of 1988

   Pub. L. 100–690 title VI § 6185(c) · 102 Stat. 4181

   Enacted · 31 U.S.C. § 5326

   Added Pub. L. 100–690, title VI, § 6185(c), Nov. 18, 1988, 102 Stat. 4355

   Source evidence

   Code source credit
   Added Pub. L. 100–690, title VI, § 6185(c), Nov. 18, 1988, 102 Stat. 4355

   Enacted provision · exact public law section
   (c) Secretary Authorized to Require Recordkeeping for Domestic Coin and Currency Transactions.— Subchapter II of chapter 53 of title 31, United States Code, is amended by inserting after section 5325 (as added by subsection (b) of this section) the following new section: “§ 5326. Records of certain domestic coin and currency transactions “(a) In General.— If the Secretary of the Treasury finds, upon the Secretary’s own initiative or at the request of an appropriate Federal or State law enforcement official, that reasonable grounds exist for concluding that additional recordkeeping and reporting requirements are necessary to carry out the purposes of this subtitle and prevent evasions thereof, the Secretary may issue an order requiring any domestic financial institution or group of domestic financial institutions in a geographic area— “(1) to obtain such information as the Secretary may describe in such order concerning— “(A) any transaction in which such financial institution is involved for the payment, receipt, or transfer of United States coins or currency (or such other monetary instruments as the Secretary may describe in such order) the total amounts or denominations of which are equal to or greater than an amount which the Secretary may prescribe; and “(B) any other person participating in such transaction; “(2) to maintain a record of such information for such period of time as the Secretary may require; and “(3) to file a report with respect to any transaction described in paragraph (1)(A) in the manner and to the extent specified in the order. “(b) Maximum Effective Period for Order.— No order issued under subsection (a) shall be effective for more than 60 days unless renewed pursuant to the requirements of subsection (a).”.

2. 1992

   AnnunzioWylie Anti-Money Laundering Act

   Pub. L. 102–550 title XV · 106 Stat. 3672

   1. Added · 31 U.S.C. § 5326(b)(d)

      Pub. L. 102–550 added subsecs. (b) and (c)

   2. Redesignated · 31 U.S.C. § 5326(b)(d)

      Pub. L. 102–550 redesignated former subsec. (b) as (d)

   Source evidence

   Code amendment note
   Subsecs. (b) to (d). Pub. L. 102–550 added subsecs. (b) and (c) and redesignated former subsec. (b) as (d).

   Enacted provision · exact public law
   TITLE XV— ANNUNZIOWYLIE ANTI- MONEY LAUNDERING ACT SEC. 1500. SHORT TITLE. This title may be cited as the “AnnunzioWylie Anti-Money Laundering Act”. Subtitle A— Termination of Charters, Insurance, and Offices SEC. 1501. AUTHORITY TO APPOINT CONSERVATOR FOR DEPOSITORY INSTITUTIONS CONVICTED OF MONEY LAUNDERING. (a) Insured Depository Institutions.— Section 11(c)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1821(c)(5)) is amended by adding at the end the following new subparagraph: “(M) Money laundering offense.— The Attorney General notifies the appropriate Federal banking agency or the Corporation in writing that the insured depository institution has been found guilty of a criminal offense under section 1956 or 1957 of title 18, United States Code, or section 5322 of title 31, United States Code.”. (b) Insured Credit Unions.— Section 2Q(h)(1) of the Federal Credit Union Act (12 U.S.C. 1786(h)(1)) is amended— (1) by redesignating subparagraphs (C) and (D) as subparagraphs (D) and (E), respectively; and (2) by inserting after subparagraph (B) the following new subparagraph: “(C) the Attorney General notifies the Board in writing that an insured credit union has been found guilty of a criminal offense under section 1956 or 1957 of title 18, United States Code, or section 5322 of title 31, United States Code;”. (c) Effective Date.— The amendments made by this section 12 USC 1786 note. shall take effect on December 20, 1992. SEC. 1502. REVOKING CHARTER OF FEDERAL DEPOSITORY INSTITUTIONS CONVICTED OF MONEY LAUNDERING OR CASH TRANSACTION REPORTING OFFENSES. (a) National Banks.— Section 5239 of the Revised Statutes (12 U.S.C. 93) is amended by adding at the end the following: “(c) Forfeiture of Franchise for Money Laundering or Cash Transaction Reporting Offenses.— “(1) In general.— “(A) Conviction of title is offenses.— “(i) Duty to notify.— If a national bank, a Federal branch, or Federal agency has been convicted of any criminal offense under section 1956 or 1957 of title 18, United States Code, the Attorney General shall provide to the Comptroller of the Currency a written notification of the conviction and shall include a certified copy of the order of conviction from the court rendering the decision. “(ii) Notice of termination; pretermination hearing.— After receiving written notification from the Attorney General of such a conviction, the Comptroller of the Currency shall issue to the national bank, Federal branch, or Federal agency a notice of the Comptroller’s intention to terminate all rights, privileges, and franchises of the bank, Federal branch, or Federal agency and schedule a pretermination hearing. “(B) Conviction of title 3i offenses.— If a national bank, a Federal branch, or a Federal agency is convicted of any criminal offense under section 5322 of title 31, United States Code, after receiving written notification from the Attorney General, the Comptroller of the Currency may issue to the national bank, Federal branch, or Federal agency a notice of the Comptroller’s intention to terminate all rights, privileges, and franchises of the bank, Federal branch, or Federal agency and schedule a pretermination hearing. “(C) Judicial review.— Section 8(h) of the Federal Deposit Insurance Act shall apply to any proceeding under this subsection. “(2) Factors to be considered.— In determining whether a franchise shall be forfeited under paragraph (1), the Comptroller of the Currency shall take into account the following factors: “(A) The extent to which directors or senior executive officers of the national bank, Federal branch, or Federal agency knew of, or were involved in, the commission of the money laundering offense of which the bank, Federal branch, or Federal agency was found guilty. “(B) The extent to which the offense occurred despite the existence of policies and procedures within the national bank, Federal branch, or Federal agency which were designed to prevent the occurrence of any such offense. “(C) The extent to which the national bank, Federal branch, or Federal agency has fully cooperated with law enforcement authorities with respect to the investigation of the money laundering offense of which the bank, Federal branch, or Federal agency was found guilty. “(D) The extent to which the national bank, Federal branch, or Federal agency has implemented additional internal controls (since the commission of the offense of which the bank, Federal branch, or Federal agency was found guilty) to prevent the occurrence of any other money laundering offense. “(E) The extent to which the interest of the local community in having adequate deposit and credit services available would be threatened by the forfeiture of the franchise. “(3) Successor liability.— This subsection shall not apply to a successor to the interests of, or a person who acquires, a bank, a Federal branch, or a Federal agency that violated a provision of law described in paragraph (1), if the successor succeeds to the interests of the violator, or the acquisition is made, in good faith and not for purposes of evading this subsection or regulations prescribed under this subsection. “(4) Definition.— The term ‘senior executive officer’ has the same meaning as in regulations prescribed under section 32(f) of the Federal Deposit Insurance Act.”. (b) Federal Savings Associations.— Section 6 of the Home Owners’ Loan Act (12 U.S.C. 1464) is amended by adding at the end the following: “(w) Forfeiture of Franchise for Money Laundering or Cash Transaction Reporting Offenses.— “(1) In general.— “(A) Conviction of title is offense.— “(I) Duty to notify.— If a Federal savings association has been convicted of any criminal offense under section 1956 or 1957 of title 18, United States Code, the Attorney General shall provide to the Director a written notification of the conviction and shall include a certified copy of the order of conviction from the court rendering the decision. “(II) Notice of termination; pretermination hearing.— After receiving written notification from the Attorney General of such a conviction, the Director shall issue to the savings association a notice of the Director’s intention to terminate all rights, privileges, and franchises of the savings association and schedule a pretermination hearing. “(B) Conviction of title 31 offenses.— If a Federal savings association is convicted of any criminal offense under section 5322 of title 31, United States Code, after receiving written notification from the Attorney General, the Director may issue to the sayings association a notice of the Director’s intention to terminate all rights, privileges, and franchises of the savings association and schedule a pretermination hearing. “(C) Judicial review.— Subsection (d)(1)(B)(vii) shall apply to any proceeding under this subsection. “(2) Factors to be considered.— In determining whether a franchise shall be forfeited under paragraph (1), the Director shall take into account the following factors: “(A) The extent to which directors or senior executive officers of the savings association knew of, were involved in, the commission of the money laundering offense of which the association was found guilty. “(B) The extent to which the offense occurred despite the existence of policies and procedures within the savings association which were designed to prevent the occurrence of any such offense. “(C) The extent to which the savings association has fully cooperated with law enforcement authorities with respect to the investigation of the money laundering offense of which the association was found guilty. “(D) The extent to which the savings association has implemented additional internal controls (since the commission of the offense of which the savings association was found guilty) to prevent the occurrence of any other money laundering offense. “(E) The extent to which the interest of the local community in having adequate deposit and credit services available would be threatened by the forfeiture of the franchise. “(3) Successor liability.— This subsection shall not apply to a successor to the interests of, or a person who acquires, a savings association that violated a provision of law described in paragraph (1), if the successor succeeds to the interests of the violator, or the acquisition is made, in good faith and not for purposes of evading this subsection or regulations prescribed under this subsection. “(4) Definition.— The term ‘senior executive officer’ has the same meaning as in regulations prescribed under section 32(f) of the Federal Deposit Insurance Act.”. (c) Federal Credit Unions.— Title I of the Federal Credit Union Act (12 U.S.C. 1752 et seq.) is amended by adding at the and the following new section: ‘SEC. 131. FORFEITURE OF ORGANIZATION CERTIFICATE FOR MONEY LAUNDERING OR CASH TRANSACTION REPORTING OFFENSES. “(a) Forfeiture of Franchise for Money Laundering or Dash Transaction Reporting Offenses.— “(1) Conviction of title is offenses.— “(A) Duty to notify.— If a credit union has been convicted of any criminal offense under section 1956 or 1957 of title 18, United States Code, the Attorney General shall provide to the Board a written notification of the conviction and shall include a certified copy of the order of conviction from the court rendering the decision. “(B) Notice of termination; pretermination hearing.— After receiving written notification from the Attorney General of such a conviction, the Board shall issue to such credit union a notice of its intention to terminate all rights, privileges, and franchises of the credit union and schedule a pretermination hearing. “(2) Conviction of title 31 offenses.— If a credit union is convicted of any criminal offense under section 5322 of title 31, United States Code, after receiving written notification from the Attorney General, the Board may issue to such credit union a notice of its intention to terminate all rights, privileges, and franchises of the credit union and schedule a pretermination hearing. “(3) Judicial review.— Section 206(j) shall apply to any proceeding under this section. “(b) Factors To Be Considered.— In determining whether a franchise shall be forfeited under subsection (a), the Board shall take into account the following factors: “(1) The extent to which directors, committee members, or senior executive officers (as defined by the Board in regulations which the Board shall prescribe) of the credit union knew of, or were involved in, the commission of the money laundering offense of which the credit union was found guilty. “(2) The extent to which the offense occurred despite the existence of policies and procedures within the credit union which were designed to prevent the occurrence of any such offense. “(3) The extent to which the credit union has fully cooperated with law enforcement authorities with respect to the investigation of the money laundering offense of which the credit union was found guilty. “(4) The extent to which the credit union has implemented additional internal controls (since the commission of the offense of which the credit union was found guilty) to prevent the occurrence of any other money laundering offense. “(5) The extent to which the interest of the local community in having adequate deposit and credit services available would be threatened by the forfeiture of the franchise. “(c) Successor Liability.— This section shall not apply to a successor to the interests of, or a person who acquires, a credit union that violated a provision of law described in subsection (a), if the successor succeeds to the interests of the violator, or the acquisition is made, in good faith and not for purposes of evading this section or regulations prescribed under this section.”. SEC. 1503. TERMINATING INSURANCE OF STATE DEPOSITORY INSTITUTIONS CONVICTED OF MONEY LAUNDERING OR CASH TRANSACTION REPORTING OFFENSES. (a) State Banks and Savings Associations.— (1) In general.— Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is amended by adding at the end the following new subsection: “(w) Termination of Insurance for Money Laundering or Cash Transaction Reporting Offenses.— “(1) In general.— “(A) Conviction of title is offenses.— “(i) Duty to notify.— If an insured State depository institution has been convicted of any criminal offense under section 1956 or 1957 of title 18, United States Code, the Attorney General shall provide to the Corporation a written notification of the conviction and shall include a certified copy of the order of conviction from the court rendering the decision. “(ii) Notice of termination; pretermination hearing.— After receipt of written notification from the Attorney General by the Corporation of such a conviction, the Board of Directors shall issue to the insured depository institution a notice of its intention to terminate the insured status of the insured depository institution and schedule a hearing on the matter, which shall be conducted in all respects as a termination hearing pursuant to paragraphs (3) through (5) of subsection (a). “(B) Conviction of title 31 offenses.— If an insured State depository institution is convicted of any criminal offense under section 5322 of title 31, United States Code, after receipt of written notification from the Attorney General by the Corporation, the Board of Directors may initiate proceedings to terminate the insured status of the insured depository institution in the manner described in subparagraph (A). “(C) Notice to state supervisor.— The Corporation shall simultaneously transmit a copy of any notice issued under this paragraph to the appropriate State financial institutions supervisor. “(2) Factors to be considered.— In determining whether to terminate insurance under paragraph (1), the Board of Directors shall take into account the following factors: “(A) The extent to which directors or senior executive officers of the depository institution knew of, or were involved in, the commission of the money laundering offense of which the institution was found guilty. “(B) The extent to which the offense occurred despite the existence of policies and procedures within the depository institution which were designed to prevent the occurrence of any such offense. “(C) The extent to which the depository institution has fully cooperated with law enforcement authorities with respect to the investigation of the money laundering offense of which the institution was found guilty. “(D) The extent to which the depository institution has implemented additional internal controls (since the commission of the offense of which the depository institution was found guilty) to prevent the occurrence of any other money laundering offense. “(E) The extent to which the interest of the local community in having adequate deposit and credit services available would be threatened by the termination of insurance. “(3) Notice to state banking supervisor and public.— When the order to terminate insured status initiated pursuant to this subsection is final, the Board of Directors shall— “(A) notify the State banking supervisor of any State depository institution described in paragraph (1) and the Office of Thrift Supervision, where appropriate, at least 10 days prior to the effective date of the order of termination of the insured status of such depository institution, including a State branch of a foreign bank; and “(B) publish notice of the termination of the insured Federal Register, publication. status of the depository institution in the Federal Register. “(4) Temporary insurance of previously insured deposits.— Upon termination of the insured status of any State depository institution pursuant to paragraph (1), the deposits of such depository institution shall be treated in accordance with subsection (a)(7). “(5) Successor liability.— This subsection shall not apply to a successor to the interests of, or a person who acquires, an insured depository institution that violated a provision of law described in paragraph (1), if the successor succeeds to the interests of the violator, or the acquisition is made, in good faith and not for purposes of evading this subsection or regulations prescribed under this subsection. “(6) Definition.— The term ‘senior executive officer’ has the same meaning as in regulations prescribed under section 32(f) of this Act.”. (2) Technical amendment.— Section 8(a)(3) of the Federal Deposit Insurance Act (12 U.S.C. 1818(a)(3)) is amended by inserting “of this subsection or subsection (w) ” after “subparagraph (B)”. (b) State Credit Unions.— Section 206 of the Federal Credit Union Act (12 U.S.C. 1786) is amended by adding at the end the following new subsection: “(v) Termination of Insurance for Money Laundering or Cash Transaction Reporting Offenses.— “(1) In general.— “(A) Conviction of title is offenses.— “(i) Duty to notify.— If an insured State credit union has been convicted of any criminal offense under section 1956 or 1957 of title 18, United States Code, the Attorney General shall provide to the Board a written notification of the conviction and shall include a certified copy of the order of conviction from the court rendering the decision. “(ii) Notice of termination.— After written notification from the Attorney General to the Board of such a conviction, the Board shall issue to such Insured credit union a notice of its intention to terminate the insured status of the insured credit union and schedule a hearing on the matter, which shall be conducted as a termination hearing pursuant to subsection (b) of this section, except that no period for correction shall apply to a notice issued under this subparagraph. “(B) Conviction of title 31 offenses.— If a credit union is convicted of any criminal offense under section 5322 of title 31, United States Code, after prior written notification from the Attorney General, the Board may initiate proceedings to terminate the insured status of such credit union in the manner described in subparagraph (A). “(C) Notice to state supervisor.— The Board shall simultaneously transmit a copy of any notice under this paragraph to the appropriate State financial institutions supervisor. “(2) Factors to be considered.— In determining whether to terminate insurance under paragraph (1), the Board shall take into account the following factors: “(A) The extent to which directors, committee members, or senior executive officers (as defined by the Board in regulations which the Board shall prescribe) of the credit union knew of, or were involved in, the commission of the money laundering offense of which the credit union was found guilty. “(B) The extent to which the offense occurred despite the existence of policies and procedures within the credit union which were designed to prevent the occurrence of any such offense. “(C) The extent to which the credit union has fully cooperated with law enforcement authorities with respect to the investigation of the money laundering offense of which the credit union was found guilty. “(D) The extent to which the credit union has implemented additional internal controls (since the commission of the offense of which the credit union was found guilty) to prevent the occurrence of any other money laundering offense. “(E) The extent to which the interest of the local community in having adequate deposit and credit services available would be threatened by the termination of insurance. “(3) Notice to state credit union supervisor and public.— When the order to terminate insured status initiated pursuant to this subsection is final, the Board shall— “(A) notify the commission, board, or authority (if any) having supervision of the credit union described in paragraph (1) at least 10 days prior to the effective date of the order of the termination of the insured status of such credit union; and “(B) publish notice of the termination of the insured status of the credit union. “(4) Temporary insurance of previously insured deposits.— Upon termination of the insured status of any State credit union pursuant to paragraph (1), the deposits of such credit union shall be treated in accordance with section 2O6(d)(2). “(5) Successor liability.— This subsection shall not apply to a successor to the interests of, or a person who acquires, an insured credit union that violated a provision of law described in paragraph (1), if the successor succeeds to the interests of the violator, or the acquisition is made, in good faith and not for purposes of evading this subsection or regulations prescribed under this subsection.”. SEC. 1504. REMOVING PARTIES INVOLVED IN CURRENCY REPORTING VIOLATIONS. (a) FDIC-Insured Institutions.— (1) Violation of reporting requirements.— Section 8(e)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1818(e)(2)) is amended to read as follows: “(2) Specific violations.— “(A) In general.— Whenever the appropriate Federal banking agency determines that— “(i) an institution-affiliated party has committed a violation of any provision of subchapter II of chapter 53 of title 31, United States Code, and such violation was not inadvertent or unintentional; “(ii) an officer or director of an insured depository institution has knowledge that an institution-affiliated party of the insured depository institution has violated any such provision or any provision of law referred to in subsection (g)(1)(A)(ii); or “(iii) an officer or director of an insured depository institution has committed any violation of the Depository Institution Management Interlocks Act, the agency may serve upon such party, officer, or director a written notice of the agency’s intention to remove such party from office. “(B) Factors to be considered.— In determining whether an officer or director should be removed as a result of the application of subparagraph (A)(ii), the agency shall consider whether the officer or director took appropriate action to stop, or to prevent the recurrence of, a violation described in such subparagraph.”. (2) Certain felony charges.— Section 8(g)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1818(g)(1)) is amended to read as follows: “(1) Suspension or prohibition.— “(A) In general.— Whenever any institution-affiliated party is charged in any information, indictment, or com-plaint, with the commission of or participation in— “(i) a crime involving dishonesty or breach of trust which is punishable by imprisonment for a term exceeding one year under State or Federal law, or “(ii) a criminal violation of section 1956, 1957, or 1960 of title 18, United States Code, or section 5322 of title 31, United States Code, the appropriate Federal banking agency may, if continued service or participation by such party may pose a threat to the interests of the depository institution’s depositors or may threaten to impair public confidence in the depository institution, by written notice served upon such party, suspend such party from office or prohibit such party from further participation in any manner in the conduct of the affairs of the depository institution. “(B) Provisions applicable to notice.— “(i) Copy.— A copy of any notice under subparagraph (A) shall also be served upon the depository institution. “(ii) Effective period.— A suspension or prohibition under subparagraph (A) shall remain in effect until the information, indictment, or complaint referred to in such subparagraph is finally disposed of or until terminated by the agency. “(C) Removal or prohibition.— “(i) In general.— If a judgment of conviction or an agreement to enter a pretrial diversion or other similar program is entered against an institution-affiliated party in connection with a crime described in subparagraph (A)(i), at such time as such judgment is not subject to further appellate review, the appropriate Federal banking agency may, if continued serv-ice or participation by such party may pose a threat to the interests of the depository institution’s depositors or may threaten to impair public confidence in the depository institution, issue and serve upon such party an order removing such party from office or prohibiting such party from further participation in any manner in the conduct of the affairs of the depository institution without the prior written consent of the appropriate agency. “(ii) Required for certain offenses.— In the case of a judgment of conviction or agreement against an institution-affiliated party in connection with a violation described in subparagraph (A)(ii), the appropriate Federal banking agency shall issue and serve upon such party an order removing such party from office or prohibiting such party from further participation in any manner in the conduct of the affairs of the depository institution without the prior written consent of the appropriate agency. “(D) Provisions applicable to order.— “(i) Copy.— A copy of any order under subparagraph (C) shall also be served upon the depository institution, whereupon the institution-affiliated party who is subject to the order (if a director or an officer) shall cease to be a director or officer of such depository institution. “(ii) Effect of acquittal.— A finding of not guilty or other disposition of the charge shall not preclude the agency from instituting proceedings after such finding or disposition to remove such party from office or to prohibit further participation in depository institution affairs, pursuant to paragraph (1), (2), or (3) of subsection (e) of this section. “(iii) Effective period.— Any notice of suspension or order of removal issued under this paragraph shall remain effective and outstanding until the completion of any hearing or appeal authorized under paragraph (3) unless terminated by the agency.”. (b) Credit Unions.— (1) Violation of reporting requirements.— Section 206(g)(2) of the Federal Credit Union Act (12 U.S.C. 1786(g)(2)) is amended to read as follows: “(2) Specific violations.— “(A) In general.— Whenever the Board determines that— “(i) an institution-affiliated party has committed a violation of any provision of subchapter II of chapter 53 of title 31, United States Code, unless such violation was inadvertent or unintentional; “(ii) an officer or director of an insured credit union has knowledge that an institution-affiliated party of the insured credit union has violated any such provision or any provision of law referred to in subsection (l)(1)(A)(C); or “(iii) an officer or director of an insured credit union has committed any violation of the Depository Institution Management Interlocks Act, the Board may serve upon such party, officer, or director a written notice of the Board’s intention to remove such officer or director from office. “(B) Factors to be considered.— In determining whether an officer or director should be removed as a result of the application of subparagraph (A)(h), the Board shall consider whether the officer or director took appropriate action to stop, or to prevent the recurrence of, a violation described in such subparagraph.”. (2) Certain felony charges.— Section 206(i))(1) of the Federal Credit Union Act (12 U.S.C. 1786(i))(1) is amended to read as follows: “(1) Suspension or prohibition authorized.— “(A) In general.— Whenever any institution-affiliated party is charged in any information, indictment, or com-plaint, with the commission of or participation in— “(i) a crime involving dishonesty or breach of trust which is punishable by imprisonment for a term exceeding one year under State or Federal law, or “(ii) a criminal violation of section 1956, 1957, or 1960 of title 18, United States Code, or section 5322 of title 31, United States Code, the Board may, if continued service or participation by such party may pose a threat to the interests of the credit unions members or may threaten to impair public confidence in the credit union, by written notice served upon such party, suspend such party from office or prohibit such party from further participation in any manner in the conduct of the affairs of the credit union. “(B) Provisions applicable to notice.— “(i) Copy.— A copy of any notice under subparagraph (A) shall also be served upon the credit union. “(ii) Effective period.— A suspension or prohibition under subparagraph (A) shall remain in effect until the information, indictment, or complaint referred to in such subparagraph is finally disposed of or until terminated by the Board. “(C) Removal or prohibition.— “(i) In general.— If a judgment of conviction or an agreement to enter a pretrial diversion or other similar program is entered against an institution-affiliated party in connection with a crime described in subparagraph (A(i), at such time as such judgment is not subject to farther appellate review, we Board may, if continued service or participation by such party may pose a threat to the interests of the credit union–s members or may threaten to impair public confidence in the credit union, issue and serve upon such party an order removing such party from office or prohibiting such party from further participation in any manner in the conduct of the affairs of the credit union without the prior written consent of the Board. “(ii) Required for certain offenses.— In the case of a judgment of conviction or agreement against an institution-affiliated party in connection with a violation described in subparagraph (A)(ii), the Board shall issue and serve upon such party an order removing such party from office or prohibiting such party from further participation in any manner in the conduct of the affairs of the credit union without the prior written consent of the Board. “(D) Provisions applicable to order.— “(i) Copy.— A copy of any order under subparagraph (C) shall also be served upon such credit union, whereupon such party (if a director or an officer) shall cease to be a director or officer of such credit union. “(ii) Effect of acquittal.— A finding of not guilty or other disposition of the charge shall not preclude the Board from instituting proceedings after such finding or disposition to remove such party from office or to prohibit further participation in credit union affairs, pursuant to paragraph (1), (2), or (3) of sub-section (g) of this section. “(iii) Effective period.— Any notice of suspension or order of removal issued under this paragraph shall remain effective and outstanding until the completion of any hearing or appeal authorized under paragraph (3) unless terminated by the Board,”. (c) Attorney General Notice Requirement.— Section 1956 of title 18, United States Code, is amended by adding at the end the following new subsection: “(g) Notice of Conviction of Financial Institutions.— If any financial institution or any officer, director, or employee of any financial institution has been found guilty of an offense under this section, section 1957 or 1960 of this title, or section 5322 of title 31, the Attorney General shall provide written notice of such fact to the appropriate regulatory agency for the financial institution.”. (d) Technical Corrections to Provisions Relating to Money Laundering Enforcement Activities.— (1) Section 5318(a)(1) of title 31, United States Code, is amended— (A) by striking “or the Postal Inspection Service”; and (B) by inserting “United States” before “Postal Service”. (2) Section 5322(a) of title 31, United States Code, is amended by striking “imprisonment” and inserting “imprisoned for”. SEC. 1505. UNAUTHORIZED PARTICIPATION. Section 19(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1829(a)(1) is amended by inserting “or money laundering” after “breach of trust”. SEC. 1506. ACCESS BY STATE FINANCIAL INSTITUTION SUPERVISORS TO CURRENCY TRANSACTIONS REPORTS. Section 5319 of title 31, United States Code, is amended— (1) in the first sentence, by striking “to an agency” and inserting “to an agency, including any State financial institutions supervisory agency,”; and (2) by inserting after the second sentence the following new sentence: “The Secretary may only require reports on the use of such information by any State financial institutions supervisory agency for other than supervisory purposes.”. SEC. 1507. RESTRICTING STATE BRANCHES AND AGENCIES OF FOREIGN RANKS CONVICTED OF MONEY LAUNDERING OFFENSES. Section 7 of the International Banking Act of 1978 (12 U.S.C, 3105) is amended by inserting after subsection (h) the following new subsection: “(i) Proceedings Related to Conviction for Money Laundering Offenses.— “(1) Notice of intention to issue order.— If the Board finds or receives written notice from the Attorney General that— “(A) any foreign bank which operates a State agency, a State branch which is not an insured branch, or a State commercial lending company subsidiary; “(B) any State agency; “(C) any State branch which is not an insured branch; or “(D) any State commercial lending subsidiary^ has been found guilty of any money laundering offense, the Board shall issue a notice to the agency, branch, or subsidiary of the Board’s intention to commence a termination proceeding under subsection (e). “(2) Definitions.— For purposes of this subsection— “(A) Insured branch.— The term ‘insured branch’ has the meaning given such term in section 3(s) of the Federal Deposit Insurance Act. “(B) Money laundering offense defined.— The term ‘money laundering offense’ means any criminal offense under section 1956 or 1957 of title 18, United States Code, or under section 5322 of title 31, United States Code.”. Subtitle B— Nonbank Financial Institutions and General Provisions SEC. 1511. IDENTIFICATION OF FINANCIAL INSTITUTIONS. (a) In General.— Subchapter II of chapter 53 of title 31, United States Code, is amended by inserting after section 5326 the following new section: “§ 5327. Identification of financial institutions “(a) Regulations Required.— The Secretary of the Treasury shall prescribe regulations requiring each depository institution to identify any customer (of the depository institution) which— “(1) is a financial institution described in— “(A) any subparagraph of section 5312(a)(2) other than subparagraphs (A) through (G); or “(B) any regulation under any such subparagraph; and “(2) has any account with the depository institution. “(b) Reports Required.— Each depository institution shall report the names of and other information about financial institution customers required to be identified under subsection (a) to the Secretary at such times and in such manner as the Secretary shall prescribe by regulation. “(c) Reporting Offenses.— No person shall cause or attempt to cause any depository institution to fail to file a report required by this section or to file a report containing a material omission or misstatement of fact. “(d) Availability of Reports.— The Secretary shall provide reports filed under subsection (b) to appropriate State financial institution supervisory agencies for supervisory purposes. “(e) Depository Institution Defined.— For purposes of this section, the term ‘depository institution’ means any financial institution described in subparagraph (A), (B), (C), (D), (E), or (F) of section 5312(a)(2).”. (b) Technical and Conforming Amendment.— Section 5321(a) of title 31, United States Code, is amended by adding at the end the following new paragraph: “(7) Financial institution identification violations.— “(A) Penalty authorized.— The Secretary may impose a civil money penalty on any person who willfully violates any provision of section 5327 or any regulation prescribed under such section. “(B) Maximum amount limitation.— The amount of any civil money penalty imposed under subparagraph (A) shall not exceed $10,000 per day for each day during which a report remains unfiled or a report containing a material omission or misstatement of fact remains uncorrected.”. “(c) Clerical Amendment.— The table of sections for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5326 the following new item: “5327. Identification of financial institutions.”. (d) Effective Date of Regulations.— The initial final regulations 31 USC 5327 note. prescribed pursuant to section 5327 of title 31, United States Code (as added by subsection (a) of this section) shall take effect before January 1, 1994. SEC. 1512. PROHIBITION OF ILLEGAL MONEY TRANSMITTING BUSINESSES. (a) In General.— Chapter 95 of title 18, United States Code, is amended by adding at the end the following section: “§1960. Prohibition of illegal money transmitting businesses “(a) Whoever conducts, controls, manages, supervises, directs, or owns all or part of a business, knowing the business is an illegal money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both. “(b) As used in this section— “(1) the term ‘illegal money transmitting business’ means a money transmitting business that affects interstate or foreign commerce in any manner or degree and which is knowingly operated in a State— “(A) without the appropriate money transmitting State license; and “(B) where such operation is punishable as a misdemeanor or a felony under State law; “(2) the term ‘money transmitting’ includes but is not limited to transferring funds on behalf of the public by any and all means including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or courier; and “(3) the term ‘State’ means any State of the United States, the District of Columbia, the Northern Mariana Islands, and any commonwealth, territory, or possession of the United States.”. (b) Clerical Amendment.— The table of sections for chapter 95 of title 18, United States Code, is amended by adding at the end the following item: “1960. Prohibition of illegal money transmitting busineesses.”. (c) Criminal Forfeiture.— Section 982(a)(1) of title 18, United States Code, is amended by striking “or 1957” and inserting “, 1957, or 1960”. SEC. 1513. COMPLIANCE PROCEDURES. Section 5318(a)(2) of title 31, United States Code, is amended by inserting “or to guard against money laundering” before the semicolon. SEC. 1514. NONDISCLOSURE OF ORDERS. Section 5326 of title 31, United States Code, is amended by adding at the end the following: “(c) Nondisclosure of Orders.— No financial institution or officer, director, employee or agent of a financial institution subject to an order under this section may disclose the existence of, or terms of, the order to any person except as prescribed by the Secretary.”. SEC. 1515. PROVISIONS RELATING TO RECORDKEEPING WITH RESPECT TO CERTAIN FUNDS TRANSFERS. (a) Recordkeeping Regulations Required.— Section 21(b) of the Federal Deposit Insurance Act (12 U.S.C. 1829b(b)) is amended— (1) by striking “(b) Where” and inserting “(b) Record-keeping Regulations .— “(1) In general.— Where”; and (2) by adding at the end the following new paragraphs: “(2) Domestic funds transfers.— Whenever the Secretary and the Board of Governors of the Federal Reserve System (hereafter in this section referred to as the ‘Board’) determine that the maintenance of records, by insured depository institutions, of payment orders which direct transfers of funds over wholesale funds transfer systems has a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, the Secretary and the Board shall jointly prescribe regulations to carry out the purposes of this section with respect to the maintenance of such records. “(3) International funds transfers.— “(A) In general.— The Secretary and the Board shall jointly prescribe, after consultation with State banking supervisors, final regulations requiring that insured depository institutions, businesses that provide check cashing services, money transmitting businesses, and businesses that issue or redeem money orders, travelers’ checks or other similar instruments maintain such records of payment orders which— “(i) involve international transactions; and “(ii) direct transfers of funds over wholesale funds transfer systems or on the books of any insured depository institution, or on the books of any business that provides check cashing services, any money transmit-ting business, and any business that issues or redeems money orders, travelers’ checks or similar instruments, that will have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings. “(B) Factors for consideration.— In prescribing the regulations required under subparagraph (A), the Secretary and the Board shall consider— “(i) the usefulness in criminal, tax, or regulatory investigations or proceedings of any record required to be maintained pursuant to the proposed regulations; and “(ii) the effect the recordkeeping required pursuant to such proposed regulations will have on the cost and efficiency of the payment system. “(C) Availability of records.— Any records required to be maintained pursuant to the regulations prescribed under subparagraph (A) shall be submitted or made available to the Secretary or the Board upon request.”. (b) Technical and Conforming Amendments.— Section 21 of the Federal Deposit Insurance Act (12 U.S.C. 1829b) is amended— (1) in subsection (c), by striking “Each insured” and inserting “Subject to the requirements of any regulations prescribed jointly by the Secretary and the Board under paragraph (2) or (3) of subsection (b), each insured”; (2) in subsection (e), by striking “Whenever any” and inserting “Subject to the requirements of any regulations prescribed jointly by the Secretary and the Board under paragraph (2) or (3) of subsection (b), whenever any”; and (3) in subsection (f), by striking “In addition to” and inserting “Subject to the requirements of any regulations prescribed jointly by the Secretary and the Board under paragraph (2) or (3) of subsection (b) and in addition to”. (c) Effective Date of Regulations.— The initial final regulations 12 USC 1829b note. prescribed pursuant to section 21(b)(3) of the Federal Deposit Insurance Act (as added by subsection (a)(2) of this section) shall take effect before January 1, 1994. SEC. 1516. USE OF CERTAIN RECORDS. Section 1112(0 of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3412(f)) is amended— (1) in paragraph (1), by inserting “or the Secretary of the Treasury” after ‘‘the Attorney General”; and (2) in paragraph (2), by inserting “and only for criminal investigative purposes relating to money laundering and other financial crimes by the Department of the Treasury” after “the Department of Justice”. SEC. 1517. SUSPICIOUS TRANSACTIONS AND FINANCIAL INSTITUTION ANTI-MONEY LAUNDERING PROGRAMS. (a) Reporting Requirement.— Section 5324 of title 31, United States Code, is amended by inserting “or section 5325 or regulations prescribed under such section 5325” after “section 5313(a)” each place such term appears. (b) Suspicious Transactions and Enforcement Programs.— Section 5314 of title 31, United States Code, is amended by adding at the end the following new subsections: “(g) Reporting of Suspicious Transactions.— “(1) In general.— The Secretary may require any financial institution, and any director, officer, employee, or agent of any financial institution, to report any suspicious transaction relevant to a possible violation of law or regulation. “(2) Notification prohibited.— A financial institution, and a director, officer, employee, or agent of any financial institution, who voluntarily reports a suspicious transaction, or that reports a suspicious transaction pursuant to this section or any other authority, may not notify any person involved in the transaction that the transaction has been reported. “(3) Liability for disclosures.— Any financial institution that makes a disclosure of any possible violation of law or regulation or a disclosure pursuant to this subsection or any other authority, and any director, officer, employee, or agent of such institution, shall not be liable to any person under any law or regulation of the United States or any constitution, law, or regulation of any State or political subdivision thereof, for such disclosure or for any failure to notify the person involved in the transaction or any other person of such disclosure. “(h) Anti-Money Laundering Programs.— “(1) In general.— In order to guard against money laundering through financial institutions, the Secretary may require financial institutions to carry out anti-money laundering pro-grams, including at a minimum “(A) the development of internal policies, procedures, and controls, “(B) the designation of a compliance officer, “(C) an ongoing employee training program, and “(D) an independent audit function to test programs. “(2) Regulations.— The Secretary may prescribe minimum standards for programs established under paragraph (1).”. SEC. 1518. ANTI-MONEY LAUNDERING TRAINING TEAM. The Secretary of the Treasury and the Attorney General shall jointly establish a team of experts to assist and provide training to foreign governments and agencies thereof in developing and expanding their capabilities for investigating and prosecuting violations of money laundering and related laws. SEC. 1519. INTERNATIONAL MONEY LAUNDERING REPORTS. (a) United States Objectives.— Section 481(a)(1) of the Foreign Assistance Act of 1961 (22 U.S.C. 2291(a)(1) is amended— (1) by striking out “and” at the end of subparagraph (D); (2) by redesignating subparagraph (E) as subparagraph (F); and (3) by inserting after subparagraph (D) the following new subparagraph: “(E) the objective of the United States in dealing with the problem of international money laundering should be to ensure that countries adopt comprehensive domestic measures against money laundering and cooperative with each other in narcotics money laundering investigations, prosecutions, and related forfeiture actions; and” (b) Annual Reports.— Section 481(e) of that Act (22 U.S.C. 2291(e)) is amended— (1) by redesignating paragraphs (7) and (8) as paragraphs (8) and (9), respectively; and (2) by inserting after paragraph (6) the following new paragraph (7): (7) (A) Each report pursuant to this subsection shall include a report on major money laundering countries. This report shall specify— “(i) which countries are major money laundering countries; “(ii) which countries identified pursuant to clause (i) have financial institutions engaging in currency transactions involving international narcotics trafficking proceeds that include significant amounts of United States currency or currency derived from illegal drug sales in the United States or that otherwise significantly affect the United States; “(iii) which countries identified pursuant to clause (ii) have not reached agreement with the United States authorities on a mechanism for exchanging adequate records in connection with narcotics investigations and proceedings; “(iv) which countries identified pursuant to clause (iii)— “(I) are negotiating in good faith with the United States to establish such a record-exchange mechanism, or “(II) have adopted laws or regulations that ensure the availability to appropriate United States Government personnel and those of other governments of adequate records in connection with narcotics investigations and proceedings; and “(v) which countries identified pursuant to clause (i)— “(I) have ratified the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances and are taking steps to implement that Convention and other applicable agreements and conventions such as the recommendations of the Financial Action Task Force, the policy directive of the European Community, the legislative guidelines of the Organization of American States, and other similar declarations, and “(II) have entered into bilateral agreements for the exchange of information on money-laundering with countries other than the United States, “(B) In addition, for each major money laundering country, the report shall include findings on the country’s adoption of law and regulations considered essential to prevent narcotics-related money laundering. Such findings shall include whether a country has— “(i) criminalized narcotics money laundering; “(ii) required banks and other financial institutions to know and record the identity of customers engaging in significant transactions, including the recording of large currency trans-actions at thresholds appropriate to that country’s economic situation; “(iii) required banks and other financial institutions to maintain, for an adequate time, records necessary to reconstruct significant transactions through financial institutions in order to be able to respond quickly to information requests from appropriate government authorities in narcotics-related money laundering cases; “(iv) required or allowed financial institutions to report suspicious transactions; “(v) established systems for identifying, tracing, freezing, seizing, and forfeiting narcotics-related assets; “(vi) enacted laws for the sharing of seized narcotics assets with other governments; “(vii) cooperated, when requested, with appropriate law enforcement agencies of other governments investigating financial crimes related to narcotics- and “(viii) addressed the problem on international transportation of illegal-source currency and monetary instruments. The report shall also detail instances of refusals to cooperate with foreign governments, and any actions taken by the United States Government and any international organization to address such obstacles, including the imposition of sanctions or penalties. “(C) The report shall also include information on multilateral and bilateral strategies pursued by the Department of State, the Department of Justice, the Department of the Treasury, and other relevant United States Government agencies, either collectively or individually, to ensure the cooperation of foreign governments with respect to narcotics-related money laundering. “(D) The report shall include specific detail to demonstrate that all United States Government agencies are pursuing a common strategy with respect to achieving international cooperation against money laundering and are pursuing a common strategy with respect to major money laundering countries, including a summary of United States objectives on a country-by-country basis. “(E) As used in this paragraph, the term ‘major money laundering country’ means a country whose financial institutions engage in currency transactions involving significant amounts of proceeds from international narcotics trafficking.”. (c) Definition of Major Drug-Transit Country.— Section 481(i)(5) of that Act (22 U.S.C. 2291(i)(6)) is amended— (1) by inserting “or” at the end of subparagraph (A); (2) by striking out “or” at the end of subparagraph (B) and inserting in lieu thereof a period; and (3) by striking out subparagraph (C). Subtitle C— Money Laundering Enforcement Improvements SEC. 1521. JURISDICTION IN CIVIL FORFEITURE CASES. Section 1355 of title 28, United States Code, is amended— (1) by inserting “(a)” before “The district”; and (2) by adding at the end the following new subsections: “(b) (1) A forfeiture action or proceeding may be brought in— “(A) the district court for the district in which any of the acts or omissions giving rise to the forfeiture occurred, or “(B) any other district where venue for the forfeiture action or proceeding is specifically provided for in section 1395 of this title or any other statute. “(2) Whenever property subject to forfeiture under the laws of the United States is located in a foreign country, or has been detained or seized pursuant to legal process or competent authority of a foreign government, an action or proceeding for forfeiture may be brought as provided in paragraph (1), or in the United States District court for the District of Columbia. “(c) in a civil forfeiture action or proceeding is appealed, removal of the property by the prevailing party shall not deprive the court of jurisdiction. Upon motion of the appealing party, the district court or the court of appeals shall issue any order necessary to preserve the right of the appealing party to the full value of the property at issue, including a stay of the judgment of the district court pending appeal or requiring the prevailing party to post an appeal bond. “(d) Any court with jurisdiction over a forfeiture action pursuant to subsection (b) may issue and cause to be served in any other district such process as may be required to bring before the court the property that is the subject of the forfeiture action.” SEC. 1522. CIVIL FORFEITURE OF FUNGIBLE PROPERTY. (a) In general.— Chapter 46 of title 18, United States Code, is amended by adding at the end the following new section: “§ 984. Civil forfeiture of fungible property “(a) This section shall apply to any action for forfeiture brought by the Government in connection with any offense under section 1956, 1957, or 1960 of this title or section 5322 of title 31, United States Code. “(b) (1) In any forfeiture action in rem in which the subject property is cash, monetary instruments in bearer form, funds deposited in an account in a financial institution (as defined in section 20 of this title), or other fungible property— “(A) it shall not be necessary for the Government to identify the specific property involved in the offense that is the basis for the forfeiture; and “(B) it shall not be a defense that the property involved in such an offense has been removed and replaced by identical property. “(2) Except as provided in subsection (c), any identical property found in the same place or account as the property involved in the offense that is the basis for the forfeiture shall be subject to forfeiture under this section. “(c) No action pursuant to this section to forfeit property not traceable directly to the offense that is the basis for the forfeiture may be commenced more than 1 year from the date of the offense. “(d) (1) No action pursuant to this section to forfeit property not traceable directly to the offense that is the basis for the forfeiture may be taken against funds held by a financial institution in an interbank account, unless the financial institution holding the account knowingly engaged in the offense. “(2) As used in this section, the term ‘interbank account’ means an account held by one financial institution at another financial institution primarily for the purpose of facilitating customer trans-actions”. (b) Conforming Amendment.— The chapter analysis for chapter 46 of title 18, United States Code, is amended by adding at the end the following: “984. Civil forfeiture of fungible property.”. SEC. 1523. PROCEDURE FOR SUBPOENAING BANK RECORDS. (a) In General.— Chapter 46 of title 18, United States Code, is amended by adding at the end the following new section: “§ 986. Subpoenas for bank records “(a) At any time after the commencement of any action for forfeiture in rem brought by the United States under section 1956, 1957, or 1960 of this title, section 5322 of title 31, United States Code, or the Controlled Substances Act, any party may request the Clerk of the Court in the district in which the proceeding is pending to issue a subpoena duces tecum to any financial institution, as defined in section 5312(a) of title 31, United States Code, to produce books, records and any other documents at any place designated by the requesting party. All parties to the proceeding shall be notified of the issuance of any such subpoena. The procedures and limitations set forth in section 985 of this title shall apply to subpoenas issued under this section. “(b) Service of a subpoena issued pursuant to this section shall be by certified mail. Records produced in response to such a subpoena may be produced in person or by mail, common carrier, or such other method as may be agreed upon by the party requesting the subpoena and the custodian of records. The party requesting the subpoena may require the custodian of records to submit an affidavit certifying the authenticity and completeness of the records and explaining the omission of any record called for in the subpoena. “(c) Nothing in this section shall preclude any party from pursuing any form of discovery pursuant to the Federal Rules of Civil Procedure”. (b) Conforming Amendment.— The chapter analysis for chapter 46 of title 18, United States Code, is amended by adding at the end the following: “986. Subpoenas for bank records.”. SEC. 1824. DELETION OF REDUNDANT AND INADVERTENTLY LIMITING PROVISION LN 18 U.S.C. 1958. Section 1956(c)(7)(D) of title 18, United States Code, is amended— (1) by striking “section 1341 (relating to mail fraud) or section 1343 (relating to wire fraud) affecting a financial institution, section 1344 (relating to bank fraud),”; and (2) by striking “section 1822 of the Mail Order Drug Paraphernalia Control Act (100 Stat. 3207–51; 21 U.S.C. 857)” and inserting “section 422 of the Controlled Substances Act”. SEC. 1525. STRUCTURING TRANSACTIONS TO EVADE CMIR REQUIREMENT. (a) In General.— Section 5324 of title 31, United States Code, is amended— (1) by inserting “(a) Domestic Coin and Currency Trans-actions.—” before “No person”; and (2) by adding at the end the following: “(b) International Monetary Instrument Transactions.— No person shall, for the purpose of evading the reporting requirements of section 5316— (1) fail to file a report required by section 5316, or cause or attempt to cause a person to fail to file such a report; (2) file or cause or attempt to cause a person to file a report required under section 5316 that contains a material omission or misstatement of fact; or (3) structure or assist in structuring, or attempt to structure or assist in structuring, any importation or exportation of monetary instruments.”. (b) Conforming Amendment.— Section 532i(a)(4)(C) of title 31, United States Code, is amended by striking “under section 5317(d)”. (c) Forfeiture.— (1) Title 18.— Section 981(a)(1)(A) of title 18, United States Code, is amended by striking “5324” and inserting “5324(a)”. (2) Title 31.— Section 5317(c) of title 31, United States Code, is amended by inserting after the first sentence “Any property, real or personal, involved in a transaction or attempted transaction in violation of section 5324(b), or any property traceable to such property, may be seized and forfeited to the United States Government”, SEC. 1526. CLARIFICATION OF DEFINITION OF FINANCIAL INSTITUTION. (a) Section 1956.— Section 1956(c)(6) of title 18, United States Code, is amended by striking “and the regulations” and inserting “or the regulations”. (b) Section 1957.— Section 1957(f)(1) of title 18, United States Code, is amended by striking “financial institution (as defined in section 5312 of title 31)” and inserting “financial institution (as defined in section 1956 of this title)”. SEC. 1527. DEFINITION OF FINANCIAL TRANSACTION. (a) Section 1956.— Section 1956(c) of title 18, United States Code, is amended— (1) in paragraph (4)(A)— (A) by inserting “or (¡ii) involving the transfer of title to any real property, vehicle, vessel, or aircraft,” after “monetary instruments,”; (B) by striking “which in any way or degree affects interstate or foreign commerce,”; and (C) by inserting “which in any way or degree affects interstate or foreign commerce” after “(A) a transaction”; and (2) in paragraph (3), by inserting “use of a safe deposit box,” before “or any other payment”. (b) Section 1957.— Section 1957(f)(1) of title 18, United States Code, is amended by inserting “, including any transaction that would be a financial transaction under section 1956(c)(4)(B) of this title,” before “but such term does not include”. SEC. 1528. OBSTRUCTING A MONEY LAUNDERING INVESTIGATION. Section 15(K)(b)(3)(B)(i) of title 18, United States Code, is amended by striking “or 1344” and inserting “1344, 1956, 1957, or chapter 53 of title 31”. SEC. 1529. AWARDS IN MONEY LAUNDERING CASES. Section 524(c)(1))(B) of title 28, United States Code, is amended by inserting “or of sections 1956 and 1957 of title 18, sections 5313 and 5324 of title 31, and section 60501 of the Internal Revenue Code of 1986” after “criminal drug laws of the United States”. SEC. 1530. PENALTY FOB MONEY LAUNDERING CONSPIRACIES. Section 1956 of title 18, United States Code, is amended by inserting at the end the following new subsection: “(g) Any person who conspires to commit any offense defined in this section or section 1957 shall be subject to the same penalties as those prescribed for the offense the commission of which was the object of the conspiracy.” SEC. 1531. TECHNICAL AND CONFORMING AMENDMENTS TO MONEY LAUNDERING PROVISION. (a) Transportation.— Subsections (a)(2) and (b) of section 1956 of title 18, United States Code, are amended by striking “transportation” each time such term appears and inserting “transportation, transmission, or transfer.” (b) Technical Correction.— Section 1956(a)(3) of title 18, United States Code, is amended by striking “represented by a law enforcement officer” and inserting “represented”. SEC. 1532. PRECLUSION OF NOTICE TO POSSIBLE SUSPECTS OF EXISTENCE OF A GRAND JURY SUBPOENA FOB BANK RECORDS IN MONEY LAUNDERING AND CONTROLLED SUBSTANCE INVESTIGATIONS. Section 1120(b)(1)(A) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3420(b)(1)(A)) is amended by inserting before the semicolon “or crime involving a violation of the Controlled Substance Act, the Controlled Substances Import and Export Act, section 1956 or 1957 of title 18, sections 5313, 5316 and 5324 of title 31, or section 60501 of the Internal Revenue Code of 1986”. SEC. 1533. ELIMINATION OF RESTRICTION ON DISPOSAL OF FORFEITED PROPERTY BY THE DEPARTMENT OF THE TREASURY AND THE POSTAL SERVICE. Section 981(e) of title 18, United States Code, is amended by striking “The authority granted to the Secretary of the Treasury and the Postal Service pursuant to this subsection shall apply only to property that has been administratively forfeited”. SEC. 1534. NEW MONEY LAUNDERING PREDICATE OFFENSES. Section 1956(c)(7)(D) of title 18, United States Code, is amended— (1) by striking “or” before “section 16”; (2) by inserting “section 1708 (theft from the mail),” before “section 2113”; and (3) by inserting before the semicolon; “, any felony violation of section 9(c) of the Food Stamp Act of 1977 (relating to food stamp fraud) involving a quantity of coupons having a value of not less than $5,000, or any felony violation of the Foreign Corrupt Practices Act”. SEC. 1535. AMENDMENTS TO THE BANK SECRECY ACT. (a) Title 31.— Title 31, United States Code, is amended— (1) in section 5324, by inserting “, section 5325, or the regulations issued thereunder” after “section 5313(a)” each place such term appears; and (2) in section 5321(a)(5)(A), by inserting “or any person willfully causing” after “willfully violates”. (b) Federal Deposit Insurance Act.— Section 21(j)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1829b(j)(1)) is amended by inserting “, or any person who willfully causes such a violation,” after “gross negligence violates”. (c) Recordkeeping.— Public Law 91–608 (12 U.S.C. 1961 et seq.) is amended— (1) in section 125(a), by inserting “or any person willfully 12 USC 1955. causing a violation of the regulation,” after “appliesand (2) in section 127, by inserting “, or willfully causes a 12 USC 1957. violation of after “Whoever willfully violates”. SEC. 1536. EXPANSION OF MONEY LAUNDERING LAW TO COVER PROCEEDS OF CERTAIN FOREIGN CRIMES. Section 1956(c)(7)(B) of title 18, United States Code, is amended— (1) by striking “involving the manufacture” and inserting the following: “involving— “(i) the manufacture”; and (2) by adding at the end the following: “(ii) kidnaping, robbery, or extortion; or “(iii) fraud, or any scheme or attempt to defraud, by or against a foreign bank (as defined in paragraph 7 of section 1(b) of the International Banking Act of 1978;”. Subtitle D— Reports and Miscellaneous SEC. 1541. STUDY AND REPORT ON REIMBURSING FINANCIAL INSTITUTIONS AND OTHERS FOR PROVIDING FINANCIAL RECORDS. (a) Study Required.— The Attorney General, in consultation with the Secretary of the Treasury and the Board of Governors of the Federal Reserve System and other appropriate banking regulatory agencies, shall conduct a study of the effect of amending the Right to Financial Privacy Act of 1978 by allowing reimbursement to financial institutions for assembling or providing financial records on corporations and other entities not currently covered under section 1115(a) of such Act The study shall also include analysis of the effect of allowing nondepositor licensed transmitters of funds to be reimbursed to the same extent as financial institutions under that section. (b) Report.— Before the end of the 180-day period beginning on the date of enactment of this Act, the Attorney General shall submit a report to the Congress on the results of the study conducted pursuant to subsection (a). SEC. 1542. REPORTS OF INFORMATION REGARDING SAFETY AND SOUNDNESS OF DEPOSITORY INSTITUTIONS. (a) Reports to Appropriate Federal Banking Agencies.— (1) In general.— The Attorney General, the Secretary of the Treasury, and the head of any other agency or instrumentality of the United States shall, unless otherwise prohibited by law, disclose to the appropriate Federal banking agency any information that the Attorney General, the Secretary of the Treasury, or such agency head believes raises significant concerns regarding the safety or soundness of any depository institution doing business in the United States. (2) Exceptions.— (A) Intelligence information.— (i) In general.— The Director of Centra) Intelligence shall disclose to the Attorney General or the Secretary of the Treasury any intelligence information that would otherwise be reported to an appropriate Federal banking agency pursuant to paragraph (1). After consultation with the Director of Central Intelligence, the Attorney General or the Secretary of the Treasury, shall disclose the intelligence information to the appropriate Federal banking agency. (ii) Procedures for receipt of intelligence information.— Each appropriate Federal banking agency, in consultation with the Director of Central Intelligence, shall establish procedures for receipt of intelligence information that are adequate to protect the intelligence information. (B) Criminal investigations, safety of government investigators, informants, and witnesses.— If the Attorney General, the Secretary of the Treasury or their respective designees determines that the disclosure of information pursuant to paragraph (1) may jeopardize a pending civil investigation or litigation, or a pending criminal investigation or prosecution, may result in serious bodily injury or death to Government employees, informants, witnesses or their respective families, or may disclose sensitive investigative techniques and methods, the Attorney General or the Secretary of the Treasury shall— (i) provide the appropriate Federal banking agency a description of the information that is as specific as possible without jeopardizing the investigation, litigation, or prosecution, threatening serious bodily injury or death to Government employees, informants, or witnesses or their respective families, or disclosing sensitive investigation techniques and methods; and (ii) permit a full review of the information by the Federal banking agency at a location and under procedures that the Attorney General determines will ensure the effective protection of the information while permit-ting the Federal banking agency to ensure the safety and soundness of any depository institution. (C) Grand jury investigations; criminal procedure.— Paragraph (1) shall not— (i) apply to the receipt of information by an agency or instrumentality in connection with a pending grand jury investigation; or (ii) be construed to require disclosure of information prohibited by rule 6 of the Federal Rules of Criminal Procedure. (b) Procedures for Receipt of Disclosure Reports.— (1) In general.— Within 90 days after the date of enactment of this Act, each appropriate Federal banking agency shall establish procedures for receipt of a disclosure report by an agency or instrumentality made in accordance with sub-section (a)(1). The procedures established in accordance with this subsection shall ensure adequate protection of information disclosed, including access control and information accountability. (2) Procedures related to each disclosure report.— Upon receipt of a report in accordance with subsection (a)(1), the appropriate Federal banking agency shall— (A) consult with the agency or instrumentality that made the disclosure regarding the adequacy of the procedures established pursuant to paragraph (1), and (B) adjust the procedures to ensure adequate protection of the information disclosed. (c) Effect on Agencies.— This section does not impose an affirmative duty on the Attorney General, the Secretary of the Treasury, or the head of any agency or instrumentality of the United States to collect new or to review existing information. (d) Definitions.— For purposes of this section, the terms “appropriate Federal banking agency” and “depository institution” have the same meanings as in section 8 of the Federal Deposit Insurance Act. (e) Report.— The Attorney General and the Secretary of the Treasury shall report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, not later than 90 days after the end of each calendar year on their utilization of the exceptions provided in subsection (a)(1)(B). SEC. 1543. IMMUNITY. Section 6001(1) of title 18, United States Code, is amended by inserting “the Board of Governors of the Federal Reserve System,” after “the Atomic Energy Commission,”. SEC. 1544. INTERAGENCY INFORMATION SHARING, Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is amended by adding at the end the following new subsection: “(t) Agencies May Share Information Without Waiving Privilege.— “(1) In general.— A covered agency shall not be deemed to have waived any privilege applicable to any information by transferring that information to or permitting that information to be used by— “(A) any other covered agency, in any capacity; or “(B) any other agency of the Federal Government (as defined in section 6 of title 18, United States Code). “(2) Definitions.— For purposes of this subsection: “(A) Covered agency.— The term ‘covered agency’ means any of the following: “(i) Any appropriate Federal banking agency. “(ii) The Resolution Trust Corporation. “(iii) The Farm Credit Administration. “(iv) The Farm Credit System Insurance Corporation. “(v) The National Credit Union Administration. “(B) Privilege.— The term ‘privilege’ includes any work-product, attorney-client, or other privilege recognized under Federal or State law. (3) Rule of construction.— Paragraph (1) shall not be construed as implying that any person waives any privilege applicable to any information because paragraph (1) does not apply to the transfer or use of that information.”. Subtitle E— Counterfeit Deterrence SEC. 1551. SHORT TITLE. This subtitle may be cited as the “Counterfeit Deterrence Act of 1992”. SEC. 1552. INCREASE IN PENALTIES. Section 474 of title 18, United States Code, is amended— (1) by inserting “(a)” before “Whoever” the first time it appears: (2) by striking “United States; or” at the end of the sixth undesignated paragraph and inserting “United States—”; (3) by striking the seventh undesignated paragraph; (4) by amending the last undesignated paragraph to read as follows: “Is guilty of a class C felony.”; and (5) by adding at the end thereof the following: “(b) For purposes of this section, the terms ‘plate’, ‘stone’, ‘thing’, or ‘other thing’ includes any electronic method used for the acquisition, recording, retrieval, transmission, or reproduction of any obligation or other security, unless such use is authorized by the Secretary of the Treasury. The Secretary shall establish a system (pursuant to section 504) to ensure that the legitimate use of such electronic methods and retention of such reproductions by businesses, hobbyists, press and others shall not be unduly restricted.”. SEC. 1553. DETERRENTS TO COUNTERFEITING. (a) In General.— Chapter 25 of title 18, United States Code, is amended by inserting after section 474 the following new section: “§474A. Deterrents to counterfeiting of obligations and securities “(a) Whoever has in his control or possession, after a distinctive paper has been adopted by the Secretary of the Treasury for the obligations and other securities of the United States, any similar paper adapted to the making of any such obligation or other security, except under the authority of the Secretary of the Treasury, is guilty of a class C felony. “(b) Whoever has in his control or possession, after a distinctive counterfeit deterrent has been adopted by the Secretary of the Treasury for the obligations and other securities of the United States by publication in the Federal Register, any essentially identical feature or device adapted to the making of any such obligation or security, except under the authority of the Secretary of the Treasury, is guilty of a class C felony. “(c) As used in this section— “(1) the term ‘distinctive paper’ includes any distinctive medium of which currency is made, whether of wood pulp, rag, plastic substrate, or other natural or artificial fibers or materials: and “(2) the term ‘distinctive counterfeit deterrent’ includes any ink, watermark, seal, security thread, optically variable device, or other feature or device; “(A) in which the United States has an exclusive property interest; or “(B) which is not otherwise in commercial use or in the public domain and which the Secretary designates as being necessary in preventing the counterfeiting of obligations or other securities of the United States.”. (b) Chapter Analysis.— The chapter analysis for chapter 25 of title 18, United States Code, is amended by adding after the item for section 474 the following: “474A. Deterrents to counterfeiting of obligations and securities.”. SEC. 1554. REPRODUCTIONS OF CURRENCY. Section 504 of title 18, United States Code, is amended— (1) in paragraph (1)(D), by striking the comma at the end thereof and inserting a period; (2) in paragraph (1)— (A) by striking “for philatelic” from the text following subparagraph (D) and all that follows through “albums).”; and (B) by adding at the end the following new sentence: “The Secretary of the Treasury hall prescribe regulations to Regulations. permit color illustrations of such currency of the United States as the Secretary determines may be appropriate for such purposes”. (3) by redesignating paragraph (2) as paragraph (3) and inserting after paragraph (1) the following new paragraph: “(2) The provisions of this section shall not permit the reproduction of illustrations of obligations or other securities, by or through electronic methods used for the acquisition, recording, retrieval, transmission, or reproduction of any obligation or other security, unless such use is authorized by the Secretary of the Treasury. The Secretary shall establish a system to ensure that the legitimate use of such electronic methods and retention of such reproductions by businesses, hobbyists, press or others shall not be unduly restricted.”; and (4) in paragraph (3), as redesignated by paragraph (3) of this subsection, by striking “but not for advertising purposes except philatelic advertising,”. Subtitle F— Miscellaneous Provisions SEC. 1561. CIVIL MONEY PENALTIES. (a) In General.— Section 5321(a)(6) of title 31, United States Code, is amended to read as follows: “(6) Negligence.— “(A) In general.— The Secretary of the Treasury may impose a civil money penalty of not more than $500 on any financial institution which negligently violates any provision of this subchapter or any regulation prescribed under this subchapter. “(B) Pattern of negligent activity.— If any financial institution engages in a pattern of negligent violations of any provision of this subchapter or any regulation prescribed under this subchapter, the Secretary of the Treasury may, in addition to any penalty imposed under subparagraph (A) with respect to any such violation, impose a civil money penalty of not more than $50,000 on the financial institution.”. (b) Effective Date.— The amendment made by subsection (a) shall apply with respect to violations committed after the date of the enactment of this Act. SEC. 1562. AUTHORITY TO ORDER DEPOSITORY INSTITUTIONS TO OBTAIN COPIES OF CTRS FROM CUSTOMERS WHICH ARE UNREGULATED BUSINESSES. Section 5326 of title 31, United States Code, is amended— (1) by redesignating subsection (b) as subsection (d); and (2) by inserting after subsection (a) the following new sub-section: “(b) Authority To Order Depository Institutions To Obtain Reports From Customers.— “(1) In general.— The Secretary of the Treasury may, by regulation or order, require any depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act)— “(A) to request any financial institution (other than a depository institution) which engages in any reportable transaction with the depository institution to provide the depository institution with a copy of any report filed by the financial institution under this subtitle with respect to any prior transaction (between such financial institution and any other person) which involved any portion of the coins or currency (or monetary instruments) which are involved in the reportable transaction with the depository institution; and “(B) if no copy of any report described in subparagraph (A) is received by the depository institution in connection with any reportable transaction to which such subparagraph applies, to submit (in addition to any report required under tins subtitle with respect to the reportable trans-action) a written notice to the Secretary that the financial institution failed to provide any copy of such report. “(2) Reportable transaction defined.— For purposes of this subsection, the term ‘reportable transaction’ means any transaction involving coins or currency (or such other monetary instruments as the Secretary may describe in the regulation or order) the total amounts or denominations of which are equal to or greater than an amount which the Secretary may prescribe.”. SEC. 1563. WHISTLEBLOWER PROTECTION FOR EMPLOYEES OF FINANCIAL INSTITUTIONS OTHER THAN DEPOSITORY INSTITUTIONS. (a) In General.— Subchapter II of chapter 53 of title 31, United States Code, is amended by inserting after section 5327 (as added by section 1511(a) of this title) the following new section: “ 5328. Whistleblower protections “(a) Prohibition Against Discrimination.— No financial institution may discharge or otherwise discriminate against any employee with respect to compensation, terms, conditions, or privileges of employment because the employee (or any person acting pursuant to the request of the employee) provided information to the Secretary of the Treasury, the Attorney General, or any Federal supervisory agency regarding a possible violation of any provision of this subchapter or section 1956, 1957, or 1960 of title 18, or any regulation under any such provision, by the financial institution or any director, officer, or employee of the financial institution. “(b) Enforcement.— Any employee or former employee who believes that such employee has been discharged or discriminated against in violation of subsection (a) may file a civil action in the appropriate United States district court before the end of the 2-year period beginning on the date of such discharge or discrimination. “(c) Remedies.— If the district court determines that a violation has occurred, the court may order the financial institution which committed the violation to— “(1) reinstate the employee to the employee’s former position; “(2) pay compensatory damages; or “(3) take other appropriate actions to remedy any past discrimination. “(d) Limitation.— The protections of this section shall not apply to any employee who— “(1) deliberately causes or participates in the alleged violation of law or regulation; or “(2) knowingly or recklessly provides substantially false information to the Secretary, the Attorney General, or any Federal supervisory agency. “(e) Coordination With Other Provisions of Law.— This section shall not apply with respect to any financial institution which is subject to section 33 of the Federal Deposit Insurance Act, section 213 of the Federal Credit Union Act, or section 21A(q) of the Home Owners’ Loan Act (as added by section 261(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991).” (b) Clerical Amendment.— The table of sections for chapter 53 of title 31, United States Code, is amended by inserting after the item relating to section 5327 (as added by section 1511(c) of this Act) the following new item: “5328. Whistleblower protections.”. SEC. 1564. ADVISORY GROUP ON REPORTING REQUIREMENTS. (a) Establishment.— Not later than 90 days after the date of the enactment of this Act, the Secretary of the Treasury shall establish a Bank Secrecy Act Advisory Group consisting of representatives of the Department of the Treasury, the Department of Justice, and the Office of National Drug Control Policy and of other interested persons and financial institutions subject to the reporting requirements of subchapter II of chapter 63 of title 31, United States Code, or section 60601 of the Internal Revenue Code of 1986. (b) Purposes.— The Advisory Group shall provide a means by which the Secretary— (1) informs private sector representatives, on a regular basis, of the ways in which the reports submitted pursuant to the requirements referred to in subsection (a) have been used; (2) informs private sector representatives, on a regular basis, of how information regarding suspicious financial trans-actions provided voluntarily by financial institutions has been used; and (3) receives advice on the manner in which the reporting requirements referred to in subsection (a) should be modified to enhance the ability of law enforcement agencies to use the information provided for law enforcement purposes. (c) Inapplicability of Federal Advisory Committee Act.— The Federal Advisory Committee Act shall not apply to the Bank Secrecy Act Advisory Group established pursuant to subsection (a). SEC. 1565. GAO FEASIBILITY STUDY OF THE FINANCIAL CRIMES ENFORCEMENT NETWORK. (a) Study Required.— The Comptroller General of the United States shall conduct a feasibility study of the Financial Crimes Enforcement Network (popularly referred to as “Fincen”) established by the Secretary of the Treasury in cooperation with other agencies and departments of the United States and appropriate Federal banking agencies. (b) Specific Requirements.— In conducting the study required under subsection (a), the Comptroller General shall examine and evaluate— (1) the extent to which Federal, State, and local govern-mental and nongovernmental organizations are voluntarily providing information which is necessary for the system to be useful for law enforcement purposes; (2) the extent to which the operational guidelines established for the system provide for the coordinated and efficient entry of information into, and withdrawal of information from, the system; (3) the extent to which the operating procedures established for the system provide appropriate standards or guidelines for determining— (A) who is to be given access to the information in the system; (B) what limits are to be imposed on the use of such information; and (C) how information about activities or relationships which involve or are closely associated with the exercise of constitutional rights is to be screened out of the system; and (4) the extent to which the operating procedures established for the system provide for the prompt verification of the accuracy and completeness of information entered into the system and the prompt deletion or correction of inaccurate or incomplete information. (c) Report to Congress.— Before the end of the 1-year period, beginning on the date of the enactment of this Act, the Comptroller General of the United States shall submit a report to the Congress containing the findings and conclusions of the Comptroller General in connection with the study conducted pursuant to subsection (a), together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate.

3. 2001

   International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

   Pub. L. 107–56 § 365(c)(2)(B) · 115 Stat. 272

   Inserted · 31 U.S.C. § 5326(a)

   Pub. L. 107–56, § 365(c)(2)(B), inserted “or nonfinancial trade or business” after “financial institution” and “or nonfinancial trades or businesses” for “financial institutions” in introductory provisions

   Source evidence

   Code amendment note
   Subsec.(a). Pub. L. 107–56, § 365(c)(2)(B), inserted “or nonfinancial trade or business” after “financial institution” and “or nonfinancial trades or businesses” for “financial institutions” in introductory provisions.

   Enacted provision · exact public law section
   (B) Subsections (a) through (f) of section 5318 of title 31, United States Code, and sections 5321, 5326, and 5328 of such title are each amended— (i) by inserting “or nonfinancial trade or business” after “financial institution” each place such term appears; and (ii) by inserting “or nonfinancial trades or businesses” after “financial institutions” each place such term appears.

4. 2001

   International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

   Pub. L. 107–56 § 365(c)(2)(B)(i) · 115 Stat. 272

   Inserted · 31 U.S.C. § 5326(a)(1)(A)

   Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution”

   Source evidence

   Code amendment note
   Subsec. (a)(1)(A). Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution”.

   Enacted provision · exact public law section
   (i) by inserting “or nonfinancial trade or business” after “financial institution” each place such term appears; and

5. 2001

   International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

   Pub. L. 107–56 § 365(c)(2)(B)(i) · 115 Stat. 272

   Inserted · 31 U.S.C. § 5326(b)(1)(A)

   Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution” wherever appearing

   Source evidence

   Code amendment note
   Subsec. (b)(1)(A). Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution” wherever appearing.

   Enacted provision · exact public law section
   (i) by inserting “or nonfinancial trade or business” after “financial institution” each place such term appears; and

6. 2001

   International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

   Pub. L. 107–56 § 365(c)(2)(B)(i) · 115 Stat. 272

   Inserted · 31 U.S.C. § 5326(b)(1)(B)

   Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution”

   Source evidence

   Code amendment note
   Subsec. (b)(1)(B). Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution”.

   Enacted provision · exact public law section
   (i) by inserting “or nonfinancial trade or business” after “financial institution” each place such term appears; and

7. 2001

   International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

   Pub. L. 107–56 § 365(c)(2)(B)(i) · 115 Stat. 272

   Inserted · 31 U.S.C. § 5326(c)

   Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution” in two places

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 107–56, § 365(c)(2)(B)(i), inserted “or nonfinancial trade or business” after “financial institution” in two places.

   Enacted provision · exact public law section
   (i) by inserting “or nonfinancial trade or business” after “financial institution” each place such term appears; and

8. 2001

   International Money Laundering Abatement and Financial Anti-Terrorism Act of 2001

   Pub. L. 107–56 § 353(d) · 115 Stat. 272

   Substituted · 31 U.S.C. § 5326(d)

   Pub. L. 107–56, § 353(d), substituted “more than 180 days” for “more than 60 days”

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 107–56, § 353(d), substituted “more than 180 days” for “more than 60 days”.

   Enacted provision · exact public law section
   (d) Lengthening Effective Period of Geographic Targeting Orders.— Section 5326(d) of title 31, United States Code, is amended by striking “more than 60” and inserting “more than 180”.

9. 2017

   Countering Russian Influence in Europe and Eurasia Act of 2017

   Pub. L. 115–44 § 275(a)(1) · 131 Stat. 886

   Struck · 31 U.S.C. § 5326

   Pub. L. 115–44, § 275(a)(1), struck out “coin and currency” before “transactions” in section catchline

   Source evidence

   Code amendment note
   Pub. L. 115–44, § 275(a)(1), struck out “coin and currency” before “transactions” in section catchline.

   Enacted provision · exact public law section
   (1) in the heading of such section, by striking “coin and currency”;

10. 2017

    Countering Russian Influence in Europe and Eurasia Act of 2017

    Pub. L. 115–44 § 275(a)(2)(A) · 131 Stat. 886

    Substituted · 31 U.S.C. § 5326(a)

    Pub. L. 115–44, § 275(a)(2)(A), substituted “subtitle or to” for “subtitle and” in introductory provisions

    Source evidence

    Code amendment note
    Subsec. (a). Pub. L. 115–44, § 275(a)(2)(A), substituted “subtitle or to” for “subtitle and” in introductory provisions.

    Enacted provision · exact public law section
    (A) by striking “subtitle and” and inserting “subtitle or to”; and

11. 2017

    Countering Russian Influence in Europe and Eurasia Act of 2017

    Pub. L. 115–44 § 275(a)(2)(B) · 131 Stat. 886

    Substituted · 31 U.S.C. § 5326(a)(1)(A)

    Pub. L. 115–44, § 275(a)(2)(B), substituted “funds (as the Secretary may describe in such order),” for “United States coins or currency (or such other monetary instruments as the Secretary may describe in such order)”

    Source evidence

    Code amendment note
    Subsec. (a)(1)(A). Pub. L. 115–44, § 275(a)(2)(B), substituted “funds (as the Secretary may describe in such order),” for “United States coins or currency (or such other monetary instruments as the Secretary may describe in such order)”.

    Enacted provision · exact public law section
    (B) in paragraph (1)(A), by striking “United States coins or currency (or such other monetary instruments as the Secretary may describe in such order)” and inserting “funds (as the Secretary may describe in such order),”; and

12. 2017

    Countering Russian Influence in Europe and Eurasia Act of 2017

    Pub. L. 115–44 § 275(a)(3)(A) · 131 Stat. 886

    Substituted · 31 U.S.C. § 5326(b)(1)(A)

    Pub. L. 115–44, § 275(a)(3)(A), substituted “funds” for “coins or currency (or monetary instruments)”

    Source evidence

    Code amendment note
    Subsec. (b)(1)(A). Pub. L. 115–44, § 275(a)(3)(A), substituted “funds” for “coins or currency (or monetary instruments)”.

    Enacted provision · exact public law section
    (A) in paragraph (1)(A), by striking “coins or currency (or monetary instruments)” and inserting “funds”; and

13. 2017

    Countering Russian Influence in Europe and Eurasia Act of 2017

    Pub. L. 115–44 § 275(a)(3)(B) · 131 Stat. 886

    Substituted · 31 U.S.C. § 5326(b)(2)

    Pub. L. 115–44, § 275(a)(3)(B), substituted “funds (as the Secretary may describe in the regulation or order)” for “coins or currency (or such other monetary instruments as the Secretary may describe in the regulation or order)”

    Source evidence

    Code amendment note
    Subsec. (b)(2). Pub. L. 115–44, § 275(a)(3)(B), substituted “funds (as the Secretary may describe in the regulation or order)” for “coins or currency (or such other monetary instruments as the Secretary may describe in the regulation or order)”.

    Enacted provision · exact public law section
    (B) in paragraph (2), by striking “coins or currency (or such other monetary instruments as the Secretary may describe in the regulation or order)” and inserting “funds (as the Secretary may describe in the regulation or order)”.

12 of 14 references resolved to an enrolled provision · 2 partial