H. R. 3162—41
with respect to liabilities arising from the restraint, seizure,
or arrest of such funds, and that such suspension or termi-
nation would be in the interest of justice and would not
harm the national interests of the United States.
‘‘(2) NO REQUIREMENT FOR GOVERNMENT TO TRACE FUNDS.—
If a forfeiture action is brought against funds that are
restrained, seized, or arrested under paragraph (1), it shall
not be necessary for the Government to establish that the
funds are directly traceable to the funds that were deposited
into the foreign bank, nor shall it be necessary for the Govern-
ment to rely on the application of section 984.
‘‘(3) CLAIMS BROUGHT BY OWNER OF THE FUNDS.—If a for-
feiture action is instituted against funds restrained, seized,
or arrested under paragraph (1), the owner of the funds depos-
ited into the account at the foreign bank may contest the
forfeiture by filing a claim under section 983.
‘‘(4) DEFINITIONS.—For purposes of this subsection, the fol-
lowing definitions shall apply:
‘‘(A) 
INTERBANK
ACCOUNT.—The 
term 
‘interbank
account’ has the same meaning as in section 984(c)(2)(B).
‘‘(B) OWNER.—
‘‘(i) IN
GENERAL.—Except as provided in clause
(ii), the term ‘owner’—
‘‘(I) means the person who was the owner,
as that term is defined in section 983(d)(6), of
the funds that were deposited into the foreign
bank at the time such funds were deposited; and
‘‘(II) does not include either the foreign bank
or any financial institution acting as an inter-
mediary in the transfer of the funds into the inter-
bank account.
‘‘(ii) EXCEPTION.—The foreign bank may be consid-
ered the ‘owner’ of the funds (and no other person
shall qualify as the owner of such funds) only if—
‘‘(I) the basis for the forfeiture action is wrong-
doing committed by the foreign bank; or
‘‘(II) the foreign bank establishes, by a prepon-
derance of the evidence, that prior to the restraint,
seizure, or arrest of the funds, the foreign bank
had discharged all or part of its obligation to the
prior owner of the funds, in which case the foreign
bank shall be deemed the owner of the funds to
the extent of such discharged obligation.’’.
(b) BANK RECORDS.—Section 5318 of title 31, United States
Code, as amended by this title, is amended by adding at the end
the following:
‘‘(k) BANK RECORDS RELATED TO ANTI-MONEY LAUNDERING PRO-
GRAMS.—
‘‘(1) DEFINITIONS.—For purposes of this subsection, the fol-
lowing definitions shall apply:
‘‘(A) APPROPRIATE
FEDERAL
BANKING
AGENCY.—The
term ‘appropriate Federal banking agency’ has the same
meaning as in section 3 of the Federal Deposit Insurance
Act (12 U.S.C. 1813).
‘‘(B) INCORPORATED
TERM.—The term ‘correspondent
account’ has the same meaning as in section 5318A(f)(1)(B).
H. R. 3162—42
‘‘(2) 120-HOUR
RULE.—Not later than 120 hours after
receiving a request by an appropriate Federal banking agency
for information related to anti-money laundering compliance
by a covered financial institution or a customer of such institu-
tion, a covered financial institution shall provide to the appro-
priate Federal banking agency, or make available at a location
specified by the representative of the appropriate Federal
banking agency, information and account documentation for
any account opened, maintained, administered or managed in
the United States by the covered financial institution.
‘‘(3) FOREIGN BANK RECORDS.—
‘‘(A) SUMMONS OR SUBPOENA OF RECORDS.—
‘‘(i) IN GENERAL.—The Secretary of the Treasury
or the Attorney General may issue a summons or sub-
poena to any foreign bank that maintains a cor-
respondent account in the United States and request
records 
related 
to 
such 
correspondent 
account,
including records maintained outside of the United
States relating to the deposit of funds into the foreign
bank.
‘‘(ii) SERVICE OF SUMMONS OR SUBPOENA.—A sum-
mons or subpoena referred to in clause (i) may be
served on the foreign bank in the United States if
the foreign bank has a representative in the United
States, or in a foreign country pursuant to any mutual
legal assistance treaty, multilateral agreement, or
other request for international law enforcement assist-
ance.
‘‘(B) ACCEPTANCE OF SERVICE.—
‘‘(i) 
MAINTAINING
RECORDS
IN
THE
UNITED
STATES.—Any covered financial institution which main-
tains a correspondent account in the United States
for a foreign bank shall maintain records in the United
States identifying the owners of such foreign bank
and the name and address of a person who resides
in the United States and is authorized to accept service
of legal process for records regarding the correspondent
account.
‘‘(ii) LAW ENFORCEMENT REQUEST.—Upon receipt
of a written request from a Federal law enforcement
officer for information required to be maintained under
this paragraph, the covered financial institution shall
provide the information to the requesting officer not
later than 7 days after receipt of the request.
‘‘(C) TERMINATION OF CORRESPONDENT RELATIONSHIP.—
‘‘(i) TERMINATION UPON RECEIPT OF NOTICE.—A cov-
ered financial institution shall terminate any cor-
respondent relationship with a foreign bank not later
than 10 business days after receipt of written notice
from the Secretary or the Attorney General (in each
case, after consultation with the other) that the foreign
bank has failed—
‘‘(I) to comply with a summons or subpoena
issued under subparagraph (A); or
‘‘(II) to initiate proceedings in a United States
court contesting such summons or subpoena.
H. R. 3162—43
‘‘(ii) LIMITATION ON LIABILITY.—A covered financial
institution shall not be liable to any person in any
court or arbitration proceeding for terminating a cor-
respondent relationship in accordance with this sub-
section.
‘‘(iii) FAILURE
TO
TERMINATE
RELATIONSHIP.—
Failure to terminate a correspondent relationship in
accordance with this subsection shall render the cov-
ered financial institution liable for a civil penalty of
up to $10,000 per day until the correspondent relation-
ship is so terminated.’’.
(c) GRACE PERIOD.—Financial institutions shall have 60 days
from the date of enactment of this Act to comply with the provisions
of section 5318(k) of title 31, United States Code, as added by
this section.
(d) AUTHORITY TO ORDER CONVICTED CRIMINAL TO RETURN
PROPERTY LOCATED ABROAD.—
(1) FORFEITURE OF SUBSTITUTE PROPERTY.—Section 413(p)
of the Controlled Substances Act (21 U.S.C. 853) is amended
to read as follows:
‘‘(p) FORFEITURE OF SUBSTITUTE PROPERTY.—
‘‘(1) IN GENERAL.—Paragraph (2) of this subsection shall
apply, if any property described in subsection (a), as a result
of any act or omission of the defendant—
‘‘(A) cannot be located upon the exercise of due dili-
gence;
‘‘(B) has been transferred or sold to, or deposited with,
a third party;
‘‘(C) has been placed beyond the jurisdiction of the
court;
‘‘(D) has been substantially diminished in value; or
‘‘(E) has been commingled with other property which
cannot be divided without difficulty.
‘‘(2) SUBSTITUTE PROPERTY.—In any case described in any
of subparagraphs (A) through (E) of paragraph (1), the court
shall order the forfeiture of any other property of the defendant,
up to the value of any property described in subparagraphs
(A) through (E) of paragraph (1), as applicable.
‘‘(3) RETURN OF PROPERTY TO JURISDICTION.—In the case
of property described in paragraph (1)(C), the court may, in
addition to any other action authorized by this subsection,
order the defendant to return the property to the jurisdiction
of the court so that the property may be seized and forfeited.’’.
(2) PROTECTIVE ORDERS.—Section 413(e) of the Controlled
Substances Act (21 U.S.C. 853(e)) is amended by adding at
the end the following:
‘‘(4) ORDER TO REPATRIATE AND DEPOSIT.—
‘‘(A) IN GENERAL.—Pursuant to its authority to enter
a pretrial restraining order under this section, the court
may order a defendant to repatriate any property that
may be seized and forfeited, and to deposit that property
pending trial in the registry of the court, or with the
United States Marshals Service or the Secretary of the
Treasury, in an interest-bearing account, if appropriate.
‘‘(B) FAILURE TO COMPLY.—Failure to comply with an
order under this subsection, or an order to repatriate prop-
erty under subsection (p), shall be punishable as a civil
H. R. 3162—44
or criminal contempt of court, and may also result in an
enhancement of the sentence of the defendant under the
obstruction of justice provision of the Federal Sentencing
Guidelines.’’.
SEC. 320. PROCEEDS OF FOREIGN CRIMES.
Section 981(a)(1)(B) of title 18, United States Code, is amended
to read as follows:
‘‘(B) Any property, real or personal, within the jurisdiction
of the United States, constituting, derived from, or traceable
to, any proceeds obtained directly or indirectly from an offense
against a foreign nation, or any property used to facilitate
such an offense, if the offense—
‘‘(i) involves the manufacture, importation, sale, or dis-
tribution of a controlled substance (as that term is defined
for purposes of the Controlled Substances Act), or any
other conduct described in section 1956(c)(7)(B);
‘‘(ii) would be punishable within the jurisdiction of
the foreign nation by death or imprisonment for a term
exceeding 1 year; and
‘‘(iii) would be punishable under the laws of the United
States by imprisonment for a term exceeding 1 year, if
the act or activity constituting the offense had occurred
within the jurisdiction of the United States.’’.
SEC. 321. FINANCIAL INSTITUTIONS SPECIFIED IN SUBCHAPTER II OF
CHAPTER 53 OF TITLE 31, UNITED STATES CODE.
(a) CREDIT UNIONS.—Subparagraph (E) of section 5312(2) of
title 31, United States Code, is amended to read as follows:
‘‘(E) any credit union;’’.
(b) FUTURES COMMISSION MERCHANT; COMMODITY TRADING
ADVISOR; COMMODITY POOL OPERATOR.—Section 5312 of title 31,
United States Code, is amended by adding at the end the following
new subsection:
‘‘(c) ADDITIONAL DEFINITIONS.—For purposes of this subchapter,
the following definitions shall apply:
‘‘(1) CERTAIN INSTITUTIONS INCLUDED IN DEFINITION.—The
term ‘financial institution’ (as defined in subsection (a)) includes
the following:
‘‘(A) Any futures commission merchant, commodity
trading advisor, or commodity pool operator registered, or
required to register, under the Commodity Exchange Act.’’.
(c) CFTC INCLUDED.—For purposes of this Act and any amend-
ment made by this Act to any other provision of law, the term
‘‘Federal functional regulator’’ includes the Commodity Futures
Trading Commission.
SEC. 322. CORPORATION REPRESENTED BY A FUGITIVE.
Section 2466 of title 18, United States Code, is amended by
designating the present matter as subsection (a), and adding at
the end the following:
‘‘(b) Subsection (a) may be applied to a claim filed by a corpora-
tion if any majority shareholder, or individual filing the claim
on behalf of the corporation is a person to whom subsection (a)
applies.’’.
SEC. 323. ENFORCEMENT OF FOREIGN JUDGMENTS.
Section 2467 of title 28, United States Code, is amended—