Page:United States Statutes at Large Volume 108 Part 3.djvu/499

 PUBLIC LAW 103-325—SEPT. 23, 1994 108 STAT. 2251 "(1) The name and location of the business. "(2) The name and address of each person who— "(A) owns or controls the business; "(B) is a director or officer of the business; or "(C) otherwise participates in the conduct of the affairs of the business. "(3) The name and address of any depository institution at which the business maintains a transaction account (as defined in section 19(b)(1)(C) of the Federal Reserve Act). "(4) An estimate of the volume of business in the coming year (which shall be reported annually to the Secretary). "(5) Such other information as the Secretary of the Treasury may require. "(c) AGENTS OF MONEY TRANSMITTING BUSINESSES.— " (1) MAINTENANCE OF LISTS OF AGENTS OF MONEY TRANSMIT- TING BUSINESSES. —Pursuant to regulations which the Secretary of the Treasury shall prescribe, each money transmitting business shall— "(A) maintain a list containing the names and addresses of all persons authorized to act as an agent for such business in connection with activities described in subsection (d)(1)(A) and such other information about such agents as the Secretary may require; and "(B) make the list and other information available on request to any appropriate law enforcement agency. "(2) TREATMENT OF AGENT AS MONEY TRANSMITTING BUSI- NESS.—The Secretary of the Treasury shall prescribe regulations establishing, on the basis of such criteria as the Secretary determines to be appropriate, a threshold point for treating an agent of a money transmitting business as a money transmitting business for purposes of this section. "(d) DEFINITIONS.— For purposes of this section, the following definitions shall apply: "(1) MONEY TRANSMITTING BUSINESS.— The term 'money transmitting business' means any business other than the United States Postal Service which— "(A) provides check cashing, currency exchange, or money transmitting or remittance services, or issues or redeems money orders, travelers' checks, and other similar instruments; "(B) is required to file reports under section 5313; and "(C) is not a depository institution (as defined in section 5313(g)). "(2) MONEY TRANSMITTING SERVICE.—The term 'money transmitting service' includes accepting currency or funds denominated in the currency of any country and transmitting the currency or funds, or the value of the currency or funds, by any means through a financial agency or institution, a Federal reserve bank or other facility of the Board of Governors of the Federal Reserve System, or an electronic funds transfer network. "(e) CIVIL PENALTY FOR FAILURE TO COMPLY WITH REGISTRA- TION REQUIREMENTS.— "(1) IN GENERAL.— Any person who fails to comply with any requirement of this section or any regulation prescribed Reports. Regulations. Regulations.

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