Page:United States Statutes at Large Volume 106 Part 5.djvu/422

 106 STAT. 4060 PUBLIC LAW 102-550—OCT. 28, 1992 "(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. — Afinancialinstitution, and a director, officer, employee, or agent of any financial institution, who voluntcurily reports a suspicious transaction, or tiiat reports a suspicious transaction pursuant to this section or any other auUiority, 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 oirector, 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 or 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 programs, including at a minimum "(A) the development of internal policies, procedures, and controls, "(B) the desip;nation of a compliance officer, "(D) an independent audit function to test programs. "(2) REGULATIONS. — The Secretary may prescribe minimum standards for programs established under paragraph (1).". 31 USC 5311 SEC. 1518. ANTI-MONEY LAUNDERING TRAINING TEAM. "°• The Secretary of the Treasury and the Attorney General shall jointly estoblish a team of experts to assist and provide training to foreign governmente and agencies thereof in developing and expanding their capabilities for investigating and prosecuting violations of money laundering and related laws. SEC. 1S19. INTERNATIONAL MONEY LAUNDERING REPORTS. (a) UNITED STATES OBJECTIVES.—Section 481(a)(l) of the Foreign Assistence Act of 1961 (22 U.S.C. 2291(a)(l)) 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 Stotes in dealing with the problem of international monev laimdering 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
 * (C) an ongoing employee training program, and

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