6 1 2 3 4 5 6 7 with requirements imposed under this chapter. For of any civil or criminal penalty, a separate violation of any requirement under this paragraph oc the purposes curs with respect to each day and each separate office, branch, or place of business in which the violation occurs or continues. (b) The authority of the Secretary under this section 8 extends to any person engaging in the business of carrying 9 on any of the following functions: 10 (1) Issuing or redeeming checks or travelers' checks 11 for third parties, except as an incident to the conduct of its 12 own business. 13 (2) Transferring funds or credits domestically or inter14 nationally. 15 (3) Operating a currency exchange or otherwise dealing 16 in foreign currencies or credits. 17 18 19 (4) Operating a credit card system. § 124. Injunctions Whenever it appears to the Secretary that any person 20 has engaged, is engaged, or is about to engage in any acts 21 22 223 23 or practices constituting a violation of any regulation under this chapter, he may in his discretion bring an action, in the proper district court of the United States or the proper 24 United States court of any territory or other place subject 25 to the jurisdiction of the United States, to enjoin such acts 7 1 or practices, and upon a proper showing a permanent or 2 temporary injunction or restraining order shall be granted 3 without bond. Upon application of the Secretary, any such 4 court may also issue mandatory injunctions commanding 5 any person to comply with any regulation of the Secretary 6 under this chapter. 7 § 125. Civil penalties 8 (a) For each willful violation of any regulation under 9 this chapter, the Secretary may assess upon any person to 10 which the regulation applies, and, if such person is a partner11 ship, corporation, or other entity, upon any partner, director, 12 officer, or employee thereof who willfully participates in 13 the violation, a civil penalty not exceeding $1,000. 15 14 (b) In the event of the failure of any person to pay any penalty assessed under this section, a civil action for the 16 recovery thereof may, in the discretion of the Secretary, be 17 brought in the name of the United States. 18 § 126. Criminal penalty 19 Whoever willfully violates any regulation under this 20 chapter shall be fined not more than $1,000 or imprisoned 21 not more than one year, or both. 22 23 § 127. Additional criminal penalty in certain cases Whoever willfully violates any regulation under this 24 chapter, section 21 of the Federal Deposit Insurance Act, 25 or section 411 of the National Housing Act, where the vio 8 1 lation is committed in furtherance of the commission of any 2 violation of Federal law punishable by imprisonment for 3 more than one year shall be fined not more than $10,000 4 or imprisoned not more than five years, or both. 5 TITLE II-REPORTS OF CURRENCY AND FOREIGN 3. REPORTS OF EXPORTS AND IMPORTS OF MONETARY INSTRUMENTS_ 231 241 9 This title may be cited as the "Currency and Foreign 10 Transactions Reporting Act". 11 § 202. Purposes 12 The purposes of this title are (1) to facilitate the super13 vision of financial institutions properly subject to Federal 14 supervision, (2) to aid duly constituted authorities in lawful 15 investigations, and (3) to provide for the collection of sta16 tistics necessary for the formulation of monetary and eco17 nomic policy. 9 1 § 203. Definitions and rules of construction 2 (a) The definitions and rules of construction set forth 3 in this section apply for the purposes of this title. 4 (b) The term "Secretary" means the Secretary of the 5 Treasury. 6 (c) The term "individual” means a natural person. 7 (d) The term "person" includes individuals, partner8 ships, trusts, estates, associations, corporations, and all other 9 entities cognizable as legal personalities. 10 (e) The term “financial institution” means any person 11 which does business in any one or more of the following 12 capacities: 234 13 14 (1) an insured bank as defined in section 3 of the Federal Deposit Insurance Act; (2) a commercial bank or trust company; (3) a private banker; (4) a branch within the United States of any foreign bank; (5) an insured institution as defined in section 401 of the National Housing Act; (6) a savings bank, building and loan association, or other thrift institution; (7) a broker or dealer registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934; S. 3678-2 46-824 O 70-2 11 12 13 14 15 16 10 (8) a broker or dealer in securities or commodities; (9) an investment banker or investment company; (10) a currency exchange; (11) an issuer or redeemer of travelers' checks, checks, money orders, or similar instruments otherwise than for its own account; (12) an operator of a credit card system; (13) an insurance company; (14) a dealer in precious metals, stones, or jewels; (15) a pawnbroker; (16) a loan or finance company; or (17) any other type of business or institution performing similar or related functions specified by the Secretary by regulation for the purposes of the provision of this title to which the regulation relates. (f) The term "domestic financial institution" means 17 any person which does business as a financial institution 18 in any place subject to the jurisdiction of the United States. (g) The term "financial agency" means any person 19 20 which acts in the capacity of a financial institution or in 21 the capacity of a bailee, depository, trustee, agent, or in 22 any other similar capacity with respect to money, credit, 23 securities, or gold or transactions therein, on behalf of any 24 person other than a government, a monetary or financial 25 authority when acting as such, or an international financial 26 institution of which the United States is a member. |