October 26, 1970 - 5 Pub. Law 91-508 84 STAT. 1119 as legal personalities. The term also includes any governmental department or agency specified by the Secretary either for the purpose of this title generally or any particular requirement thereunder. (d) The term "United States", used in a geographical sense, includes the States and the District of Columbia, and to the extent the Secretary shall by regulation specify, either for the purposes of this title generally or any particular requirement thereunder, the Commonwealth of Puerto Rico, the possessions of the United States, United States military establishments, and United States diplomatic establishments. (e) The term "financial institution" means any person which does business in any one or more of the following capacities: (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; an agency or 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, credit union, industrial bank, or other thrift institution; (7) a broker or dealer registered with the Securities and Ex 64 Stat. 873. 12 USC 1813. 48 Stat. 1255. 12 USC 1724. change Commission under the Securities Exchange Act of 1934; 48 Stat. 881. (8) a broker or dealer in securities or commodities; (9) an investment banker or investment company; (10) a currency exchange; (11) an issuer, redeemer or cashier of travelers' checks, checks, money orders, or similar instruments; (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; 17) a travel agency; (18) a licensed transmitter of funds; (19) a telegraph company; (20) a Federal, State, or local government institution which performs any of the functions of any of the businesses listed above; or (21) any other type of business or institution performing similar, related, or substitute 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", used with reference to institutions or agencies, limits the applicability of the provision wherein it appears to the performance by such institutions or agencies of functions within the United States. (g) The term "financial agency" means any person which acts in the capacity of a financial institution or in the capacity of a bailee, depository trustee, agent, or in any other similar capacity with respect to money, credit, securities, or gold or transactions therein, on behalf of any person other than a government, a monetary or financial authority when acting as such, or an international financial institution of which the United States is a member. (h) The term "foreign", used with reference to institutions or agencies, limits the applicability of the provision wherein it appears to the performance by such institutions or agencies of functions outside the United States. 15 USC 788. Pub. Law 91-508 84 STAT. 1120 81 Stat. 54. 62 Stat. 749. (i) References to this title or any provision thereof include regulations issued under this title or the provision thereof in question. (j) All reports required under this title and all records of any such reports are specifically exempted from disclosure under section 552 of title 5, United States Code. (k) For the purposes of section 1001 of title 18, United States Code, the contents of reports required under any provision of this title are statements and representations in matters within the jurisdiction of an agency of the United States. (1) The term "monetary instruments" means coin and currency of the United States, and in addition, such foreign coin and currencies, and such types of travelers' checks, bearer negotiable instruments, bearer investment securities, bearer securities, and stock with title passing upon delivery, or the equivalent thereof, as the Secretary may by regulation specify for the purposes of the provision of this title to which the regulation relates. § 204. Regulations The Secretary shall prescribe such regulations as he may deem appropriate to carry out the purposes of this title. $205. Compliance (a) The Secretary shall have the responsibility to assure compliance with the requirements of this title and may delegate such responsibility to the appropriate bank supervisory agency, or other supervisory agency. (b) The Secretary may by regulation require any class of domestic financial institutions to maintain such procedures as he may deem appropriate to assure compliance with the provisions of this title. For purposes of both civil and criminal penalties for violations of this section, a separate violation shall be deemed to occur with respect to each day and each separate office, branch, or place of business in which the violation occurs or continues. the § 206. Exemptions The Secretary may make such exemptions from any requirement otherwise imposed under this title as he may deem appropriate. Any such exemption may be conditional or unconditional, by regulation, order, or licensing, or any combination thereof, and may relate to any particular transaction, to the type or amount of the transaction, to the party or parties or the classification of parties, or to any combination thereof. The Secretary may in his discretion, in any manner giving actual or constructive notice to the parties affected, revoke any exemption made under this section. Any such revocation shall remain in effect pending any judicial review. § 207. Civil penalty (a) For each willful violation of this title, the Secretary may assess upon any domestic financial institution, and upon any partner, director, officer, or employee thereof who willfully participates in the violation, a civil penalty not exceeding $1,000. (b) In the event of the failure of any person to pay any penalty assessed under this title, a civil action for the recovery thereof may, in the discretion of the Secretary, be brought in the name of the United States. § 208. Injunctions Whenever it appears to the Secretary that any person has engaged, is engaged, or is about to engage in any acts or practices constituting a violation of the provisions of this title, or of any order thereunder, he may in his discretion bring an action, in the proper district court October 26, 1970 -7 Pub. Law 91-508 84 STAT. 1121 of the United States or the proper United States court of any territory or other place subject to the jurisdiction of the United States, to enjoin such acts or practices, and upon a proper showing a permanent or temporary injunction or restraining order shall be granted without bond. Upon application of the Secretary, any such court may also issue mandatory injunctions commanding any person to comply with the provisions of this title or any order of the Secretary made in pursuance thereof. $209. Criminal penalty Whoever willfully violates any provision of this title or any regulation under this title shall be fined not more than $1,000, or imprisoned not more than one year, or both. § 210. Additional criminal penalty in certain cases Whoever willfully violates any provision of this title where the violation is (1) committed in furtherance of the commission of any other violation of Federal law, or (2) committed as part of a pattern of illegal activity involving transactions exceeding $100,000 in any twelve-month period, shall be fined not more than $500,000 or imprisoned not more than five years, or both. § 211. Immunity of witnesses Whenever a witness refuses on the basis of his privilege against self-incrimination, to testify or provide other information in a proceeding involving any violation of this title before or ancillary to(1) a court or grand jury of the United States, (2) an agency of the United States, or (3) either House of Congress, a joint committee of the two Houses, or a committee or a subcommittee of either House, and the person presiding over the proceeding communicates to the witness an order requiring him to give testimony or provide other information, the witness may not refuse to comply with the order on the basis of his privilege against self-incrimination. No such testimony or other information so compelled under the order or evidence or other information which is obtained by the exploitation of such testimony may be used against the witness in any criminal case, except a prosecution for perjury, giving a false statement, or otherwise failing to comply with the order. § 212. Availability of information to other Federal agencies The Secretary shall, upon such conditions and pursuant to such procedures as he may by regulation prescribe, make any information set forth in reports filed pursuant to this title available for a purpose consistent with the provisions of this title to any other department or agency of the Federal Government on the request of the head of such department or agency. § 213. Administrative procedure Subject to section 203 (j), the administrative procedure and judicial Ante, p. 1118. review provisions of subchapter II of chapter 5 and chapter 7 of title 5, United States Code, shall apply to all proceedings under this title. 80 Stat. 381. Sec. Chapter 2-DOMESTIC CURRENCY TRANSACTIONS 221. Reports of currency transactions required. 222. Persons required to file reports. 223. Reporting procedure. 5 USC 551-559, 701-706. 37-583 74 pt. 2 14 84 STAT. 1122 Pub. Law 91-508 -8 October 26, 1970 § 221. Reports of currency transactions required Transactions involving any domestic financial institution shall be reported to the Secretary at such time, in such manner, and in such detail as the Secretary may require if they involve the payment, receipt, or transfer of United States currency, or such other monetary instruments as the Secretary may specify, in such amounts, denominations, or both, or under such circumstances, as the Secretary shall by regulation prescribe. § 222. Persons required to file reports The report of any transaction required to be reported under this chapter shall be signed or otherwise made both by the domestic financial institution involved and by one or more of the other parties thereto or participants therein, as the Secretary may require. If any party to or participant in the transaction is not an individual acting only for himself, the report shall identify the person or persons on whose behalf the transaction is entered into, and shall be made by the individuals acting as agents or bailees with respect thereto. § 223. Reporting procedure (a) The Secretary may in his discretion designate domestic financial institutions, individually or by class, as agents of the United States to receive reports required under this chapter, except that an institution which is not insured, chartered, examined, or registered as such by any agency of the United States may not be so designated without its consent. The Secretary may suspend or revoke any such designation for any violation of this Act, or section 21 of the Federal Ante, pp. 1114, Deposit Insurance Act, or section 411 of the National Housing Act. 1116. (b) Any person (other than an institution designated under subsection (a)) required to file a report under this chapter with respect to a transaction with a domestic financial institution shall file the report with that institution, except that (1) if the institution is not designated under subsection (a), the report shall be filed as the Secretary shall prescribe, and (2) any such person may, at his election and in lieu of filing the report in the manner hereinabove prescribed, file the report with the Secretary. Domestic financial institutions designated under subsection (a) shall transmit reports filed with them, and shall file their own reports, as the Secretary shall prescribe. Sec. Chapter 3.-REPORTS OF EXPORTS AND IMPORTS 231. Reports required. 232. Forfeiture. 233. Civil liability. 234. Remission by the Secretary. 235. Enforcement authority. § 231. Reports required (a) Except as provided in subsection (c) of this section, whoever. whether as principal, agent, or bailee, or by an agent or bailee, knowingly (1) transports or causes to be transported monetary instru ments (A) from any place within the United States to or through any place outside the United States, or (B) to any place within the United States from or through any place outside the United States, or (2) receives monetary instruments at the termination of their transportation to the United States from or through any place outside the United States in an amount exceeding $5,000 on any one occasion shall file a report or reports in accordance with subsection (b) of this section. October 26, 1970 -9 Pub. Law 91-508 84 STAT. 1123 (b) Reports required under this section shall be filed at such times and places, and may contain such of the following information and any additional information, in such form and in such detail, as the Secretary may require: (1) The legal capacity in which the person filing the report is acting with respect to the monetary instruments transported. (2) The origin, destination, and route of the transportation. (3) Where the monetary instruments are not legally and beneficially owned by the person transporting the same, or are transported for any purpose other than the use in his own behalf of the person transporting the same, the identities of the person from whom the monetary instruments are received, or to whom they are to be delivered, or both. (4) The amounts and types of monetary instruments transported. (c) Subsection (a) does not apply to any common carrier of passengers in respect of monetary instruments in the possession of its passengers, nor to any common carrier of goods in respect of shipments of monetary instruments not declared to be such by the shipper. $232. Forfeiture (a) Any monetary instruments which are in the process of any transportation with respect to which any report required to be filed under section 231(1) either has not been filed or contains material omissions or misstatements are subject to seizure and forfeiture to the United States. (b) For the purpose of this section, monetary instruments transported by mail, by any common carrier, or by any messenger or bailee, are in process of transportation from the time they are delivered into the possession of the postal service, common carrier, messenger, or bailee until the time they are delivered into or retained in the possession of the addressee or intended recipient or any agent of the addressee or intended recipient for purposes other than further transportation within, or across any border of, the United States. §233. Civil liability The Secretary may assess a civil penalty upon any person who fails to file any report required under section 231, or who files such a report containing any material omission or misstatement. The amount of the penalty shall not exceed the amount of the monetary instruments with respect to whose transportation the report was required to be filed. The liabilities imposed by this chapter are in addition to any other liabilities, civil or criminal, except that the liability under this section shall be reduced by any amount actually forfeited under section 232. 8234. Remission by the Secretary The Secretary may in his discretion remit any forfeiture or penalty under this chapter in whole or in part upon such terms and conditions as he deems reasonable and just. § 235. Enforcement authority (a) If the Secretary has reason to believe that monetary instru- Search ments are in the process of transportation and with respect to which warrant. a report required under section 231 has not been filed or contains material omissions or misstatements, he may apply to any court of competent jurisdiction for a search warrant. Upon a showing of probable cause, the court may issue a warrant authorizing the search of any or all of the following: (1) One or more designated persons. (2) One or more designated or described places or premises. |