Page:United States Statutes at Large Volume 118.djvu/3780

 118 STAT. 3750 PUBLIC LAW 108–458—DEC. 17, 2004 the Bank Secrecy Act Advisory Group established by the Secretary, and any other group considered by the Secretary to be relevant. ‘‘(5) REGULATIONS.— ‘‘(A) IN GENERAL.—Subject to subparagraph (B), the regulations required by paragraph (1) shall be prescribed in final form by the Secretary, in consultation with the Board of Governors of the Federal Reserve System, before the end of the 3-year period beginning on the date of enactment of the National Intelligence Reform Act of 2004. ‘‘(B) TECHNOLOGICAL FEASIBILITY.—No regulations shall be prescribed under this subsection before the Sec- retary certifies to the Congress that the Financial Crimes Enforcement Network has the technological systems in place to effectively and efficiently receive, keep, exploit, protect the security of, and disseminate information from reports of cross-border electronic transmittals of funds to law enforcement and other entities engaged in efforts against money laundering and terrorist financing.’’. SEC. 6303. TERRORISM FINANCING. (a) REPORT ON TERRORIST FINANCING.— (1) IN GENERAL.—Not later than 270 days after the date of enactment of this Act, the President, acting through the Secretary of the Treasury, shall submit to Congress a report evaluating the current state of United States efforts to curtail the international financing of terrorism. (2) CONTENTS.—The report required by paragraph (1) shall evaluate and make recommendations on— (A) the effectiveness and efficiency of current United States governmental efforts and methods to detect, track, disrupt, and stop terrorist financing; (B) the relationship between terrorist financing and money laundering, including how the laundering of pro- ceeds related to illegal narcotics or foreign political corrup- tion may contribute to terrorism or terrorist financing; (C) the nature, effectiveness, and efficiency of current efforts to coordinate intelligence and agency operations within the United States Government to detect, track, dis- rupt, and stop terrorist financing, including identifying who, if anyone, has primary responsibility for developing priorities, assigning tasks to agencies, and monitoring the implementation of policy and operations; (D) the effectiveness and efficiency of efforts to protect the critical infrastructure of the United States financial system, and ways to improve the effectiveness of financial institutions; (E) ways to improve multilateral and international governmental cooperation on terrorist financing, including the adequacy of agency coordination within the United States related to participating in international cooperative efforts and implementing international treaties and com- pacts; and Certification. Deadline. VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00284 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

�