Page:United States Statutes at Large Volume 115 Part 1.djvu/320

 115 STAT. 298 PUBLIC LAW 107-56 —OCT. 26, 2001 for adequate challenge consistent with providing due process rights; (9) to clarify the terms of the safe harbor from civil liability for filing suspicious activity reports; (10) to strengthen the authority of the Secretary to issue and administer geographic targeting orders, and to clarify that violations of such orders or any other requirement imposed under the authority contained in chapter 2 of title I of Public Law 91-508 and subchapters II and III of chapter 53 of title 31, United States Code, may result in criminal and civil penalties; (11) to ensure that all appropriate elements of the financial services industry are subject to appropriate requirements to report potential money laundering transactions to proper authorities, and that jurisdictional disputes do not hinder examination of compliance by financial institutions with relevant reporting requirements; (12) to strengthen the ability of financial institutions to maintain the integrity of their employee population; and (13) to strengthen measures to prevent the use of the United States financial system for personal gain by corrupt foreign officials and to facilitate the repatriation of any stolen assets to the citizens of countries to whom such assets belong. 31 USC 5311 SEC. 303. 4 -YEAR CONGRESSIONAL REVIEW; EXPEDITED CONSIDER- note. ATION. Effective date. (a) IN GENERAL.— Effective on and after the first day of fiscal year 2005, the provisions of this title and the amendments made by this title shall terminate if the Congress enacts a joint resolution, the text after the resolving clause of which is as follows: "That provisions of the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, and the amendments made thereby, shall no longer have the force of law.". (b) EXPEDITED CONSIDERATION.—Any joint resolution submitted pursuant to this section should be considered by the Congress expeditiously. In particular, it shall be considered in the Senate in accordance with the provisions of section 601(b) of the International Security Assistance and Arms Control Act of 1976. Subtitle A—International Counter Money Laundering and Related Measures SEC. 311. SPECIAL MEASURES FOR JURISDICTIONS, FINANCIAL INSTITUTIONS, OR INTERNATIONAL TRANSACTIONS OF PRIMARY MONEY LAUNDERING CONCERN. (a) IN GENERAL. —Subchapter II of chapter 53 of title 31, United States Code, is amended by inserting after section 5318 the following new section: "§53I8A. Special measures for jurisdictions, Hnancial institutions, or international transactions of primary money laundering concern "(a) INTERNATIONAL COUNTER-MONEY LAUNDERING REQUIRE- MENTS.— "(1) IN GENERAL.— The Secretary of the Treasury may require domestic financial institutions and domestic financial

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