Page:United States Statutes at Large Volume 100 Part 4.djvu/300

 100 STAT. 3207-21

PUBLIC LAW 99-570—OCT. 27, 1986

18 USC 1957.

"§ 1957. Engaging in monetary transactions in property derived from speciHed unlawful activity "(a) Whoever, in any of the circumstances set forth in subsection (d), knowingly engages or attempts to engage in a monetary trans': -j^,'_ action in criminally derived property of a value greater than $10,000 ', and is derived from specified unlawful activity, shall be punished as provided in subsection O^)"03)(1) Except as provided in paragraph (2), the punishment for an offense under this section is a fine under title 18, United States Code, or imprisonment for not more than ten years, or both. "(2) The court may impose an alternate fine to that imposable under paragraph (1) of not more than twice the amount of the criminally derived property involved in the transaction. "(c) In a prosecution for an offense under this section, the GovernSfij:>gij 8J ment is not required to prove the defendant knew that the offense from which the criminally derived property was derived was specified unlawful activity. "(d) The circumstances referred to in subsection (a) are— ? "(1) that the offense under this section takes place in the • IJ United States or in the special maritime and territorial jurisdicZ tion of the United States; or + "(2) that the offense under this section takes place outside the ' United States and such special jurisdiction, but the defendant is 18 USC 3077. a United States person (as defined in section 3077 of this title, but excluding the class described in paragraph (2)(D) of such ^ section). "(e) Violations of this section may be investigated by such components of the Department of Justice as the Attorney General may direct, and by such components of the Department of the Treasury as the Secretary of the Treasury may direct, as appropriate. Such authority of the Secretary of the Treasury shall be exercised in accordance with an agreement which shall be entered into by the Secretary of the Treasury and the Attorney General. "(f) As used in this section— "(1) the term 'monetary transaction' means the deposit, withdrawal, transfer, or exchange, in or affecting interstate or foreign commerce, of funds or a monetary instrument (as de31 USC 5311 et fined for the purposes of subchapter II of chapter 53 of title 31) seq. by, through, or to a financial institution (as defined in section X 5312 of title 31); "(2) the term 'criminally derived property' means any property constituting, or derived from, proceeds obtained from a criminal offense; and V "(3) the term 'specified unlawful activity' has the meaning 18 USC 1956. given that term in section 1956 of this title.'. (b) The table of sections at the beginning of chapter 95 of title 18 is amended by adding at the end the following new items: "1956. Laundering of monetary instruments. "1957. Engaging in monetary transactions in property derived from specified unlawful activity.". SEC. 1353. AMENDMENTS TO THE RIGHT TO FINANCIAL PRIVACY ACT. (a) CLARIFICATION OF RIGHT OF FINANCIAL INSTITUTIONS TO REPORT SUSPECTED VIOLATIONS.—Section 1103(c) of the Right to Financial
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Privacy Act of 1978 (12 U.S.C. 3403(c)) is amended by adding at the end thereof the following new sentences: "Such information may

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