I 
115TH CONGRESS 
2D SESSION 
H. R. 6068 
To update dollar amount thresholds for certain currency transaction reports 
and suspicious activity reports, to improve the sharing of suspicious 
activity reports within a financial group, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 12, 2018 
Mr. PEARCE (for himself and Mr. LUETKEMEYER) introduced the following 
bill; which was referred to the Committee on Financial Services 
A BILL 
To update dollar amount thresholds for certain currency 
transaction reports and suspicious activity reports, to 
improve the sharing of suspicious activity reports within 
a financial group, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Counter Terrorism and 
Illicit Finance Act’’. 
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SEC. 2. UPDATING THRESHOLDS FOR CERTAIN CURRENCY 
TRANSACTION REPORTS AND SUSPICIOUS 
ACTIVITY REPORTS. 
(a) THRESHOLDS FOR CERTAIN CURRENCY TRANS-
ACTION REPORTS.— 
(1) IN GENERAL.—Not later than the end of 
the 180-day period beginning on the date of the en-
actment of this Act, the Secretary of the Treasury 
shall revise regulations issued with respect to section 
5313 of title 31, United States Code, to update each 
$10,000 threshold amount in such regulations to 
$30,000. 
(2) THRESHOLD FOR REPORTS RELATING TO 
COINS AND CURRENCY RECEIVED IN NONFINANCIAL 
TRADE
OR
BUSINESS.—Section 5331 of title 31, 
United States Code, is amended by striking 
‘‘$10,000’’ each place such term appears in heading 
or text and inserting ‘‘$30,000’’. 
(b) THRESHOLDS
FOR SUSPICIOUS ACTIVITY RE-
PORTS.—Not later than the end of the 180-day period be-
ginning on the date of the enactment of this Act, each 
Federal department or agency that issues regulations with 
respect to reports on suspicious transactions described 
under section 5318(g) of title 31, United States Code, 
shall update each $5,000 threshold amount in such regula-
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tions to $10,000 and each $2,000 threshold amount in 
such regulation to $3,000. 
(c) UPDATING
THE MONEY SERVICES BUSINESS 
DEFINITION THRESHOLDS.—Not later than the end of the 
180-day period beginning on the date of the enactment 
of this Act, the Secretary of the Treasury shall revise sec-
tion 1010.100(ff) of title 31, Code of Federal Regulations, 
to update each $1,000 threshold amount in such regula-
tions to $3,000. 
SEC. 3. STREAMLINING REQUIREMENTS FOR CURRENCY 
TRANSACTION REPORTS AND SUSPICIOUS 
ACTIVITY REPORTS. 
(a) REVIEW.—The Secretary of the Treasury (in con-
sultation with Federal law enforcement agencies, the Di-
rector of National Intelligence, and the Federal functional 
regulators and in consultation with other relevant stake-
holders) shall undertake a formal review of the current 
financial institution reporting requirements under the 
Bank Secrecy Act and its implementing regulations and 
propose changes to further reduce regulatory burdens, and 
ensure that the information provided is of a ‘‘high degree 
of usefulness’’ to law enforcement, as set forth under sec-
tion 5311 of title 31, United States Code. 
(b) CONTENTS.—The review required under sub-
section (a) shall include a study of— 
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(1) whether the timeframe for filing a sus-
picious activity report should be increased from 30 
days; 
(2) whether or not currency transaction report 
and suspicious activity report thresholds should be 
tied to inflation or otherwise periodically be ad-
justed; 
(3) whether the circumstances under which a fi-
nancial institution determines whether to file a ‘‘con-
tinuing suspicious activity report’’, or the processes 
followed by a financial institution in determining 
whether to file a ‘‘continuing suspicious activity re-
port’’ (or both) can be narrowed; 
(4) analyzing the fields designated as ‘‘critical’’ 
on the suspicious activity report form and whether 
the number of fields should be reduced; 
(5) the categories, types, and characteristics of 
suspicious activity reports and currency transaction 
reports that are of the greatest value to, and that 
best support, investigative priorities of law enforce-
ment and national security personnel; 
(6) the increased use of exemption provisions to 
reduce currency transaction reports that are of little 
or no value to law enforcement efforts; 
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