of any such State or political subdivision regu-
lates or examines such institution.
‘‘(2) REPORTS REQUIRED TO BE FILED WITH
FEDERAL AGENCY.—Any report required under this
subchapter or regulations prescribed by the Sec-
retary of the Treasury pursuant to this subchapter
shall be filed by the person required to make the re-
port with the Secretary of the Treasury or an officer
or agency of the United States designated by the
Secretary to receive such report.’’.
(b) TECHNICAL AND CONFORMING AMENDMENTS.—
Section 5318(a) of title 31, United States Code, is amend-
ed—
(1) in paragraph (1), by inserting ‘‘or (i)’’ after
‘‘subsection (b)(2)’’; and
(2) in paragraph (5), by inserting ‘‘except as
provided in subsection (i),’’ before ‘‘prescribe an ap-
propriate exemption’’.
(c) REVOCATION OF PRIOR EXEMPTION.—Any ex-
emption granted under subchapter II of chapter 53 of title
31, United States Code, by the Secretary of the Treasury
before the date of the enactment of the Money Laundering
Suppression Act of 1994 to any State or local government
on behalf of any financial institution (as defined in such
subchapter) is hereby revoked as of the end of the 30-
day period beginning on the date of the enactment of this
Act.
SEC. 11. CRIMINAL AND CIVIL PENALTY FOR STRUCTURING
DOMESTIC 
AND 
INTERNATIONAL 
TRANS-
ACTIONS.
(a) CRIMINAL PENALTY.—Section 5324 of title 31,
United States Code, is amended by adding at the end the
following new subsection:
‘‘(c) CRIMINAL PENALTY.—
‘‘(1) IN GENERAL.—Whoever violates this sec-
tion shall be fined in accordance with title 18, Unit-
ed States Code, imprisoned for not more than 5
years, or both.
‘‘(2) ENHANCED
PENALTY
FOR
AGGRAVATED
CASES.—Whoever violates this section while violating
another law of the United States or as part of a pat-
tern of any illegal activity involving more than
$100,000 in a 12-month period shall be fined twice
the amount provided in subsection (b)(3) or (c)(3)
(as the case may be) of section 3571 of title 18,
United States Code, imprisoned for not more than
10 years, or both.’’.
(b) AMENDMENT RELATING TO CIVIL PENALTY.—
Section 5321(a)(4)(A) of title 31, United States Code, is
amended by striking ‘‘willfully’’.
(c) TECHNICAL AND CONFORMING AMENDMENT.—
Subsections (a) and (b) of section 5322 of title 31, United
States Code, are amended by inserting ‘‘or 5324’’ after
‘‘section 5315’’ each place such term appears.
SEC. 12. GAO STUDY OF CASHIERS’ CHECKS.
(a) STUDY REQUIRED.—The Comptroller General of
the United States shall conduct a study to—
(1) determine the extent to which the practice
of issuing of cashiers’ checks by financial institu-
tions is vulnerable to money laundering schemes;
(2) determine the extent to which additional
recordkeeping requirements should be imposed on fi-
nancial institutions which issue cashiers’ checks; and
(3) analyze such other factors relating to the
use and regulation of cashiers’ checks as the Comp-
troller General determines to be appropriate.
(b) REPORT REQUIRED.—Before the end of the 6-
month period beginning on the date of the enactment of
this Act, the Comptroller General shall submit a report
to the Congress containing—
(1) the findings and conclusions of the Comp-
troller General in connection with the study con-
ducted pursuant to subsection (a); and
(2) such recommendations for legislative and
administrative action as the Comptroller General
may determine to be appropriate.
SEC. 13. TECHNICAL CORRECTIONS.
(a) TITLE 31, U.S.C., AMENDMENTS.—
(1) Section 5321(a)(5)(A) of title 31, United
States Code, is amended by inserting ‘‘any violation
of’’ after ‘‘causing’’.
(2) Section 5324(a) of title 31, United States
Code, is amended—
(A) by striking ‘‘section 5313(a), section
5325, or the regulations issued thereunder or
section 5325 or regulations prescribed under
such section 5325’’ each place such term ap-
pears and inserting ‘‘section 5313(a) or 5325
or any regulation prescribed under any such
section’’; and
(B) by striking ‘‘with respect to such
transaction’’.
(b) AMENDMENT RELATING TO TITLE 31, U.S.C.—
(1) Effective as of the date of the enactment of
the Annunzio-Wylie Anti-Money Laundering Act,
section 1517(b) of such Act is amended by striking
‘‘5314’’ and inserting ‘‘5318’’.
(2) Section 5239 of the Revised Statutes of the
United States is amended by redesignating the 2d
subsection (c) (as added by section 1502(a) of the
Annunzio-Wylie Anti-Money Laundering Act) as
subsection (d).
Passed the House of Representatives March 21,
1994.
Attest:
DONNALD K. ANDERSON,
Clerk.
HR 3235 RFS——2
HR 3235 RFS——3