‘‘(2) The number of bank transactions which
originate in such area or involve institutions located
in such area.
‘‘(3) The number of electronic funds transfers
which originate in such area or involve institutions
located in such area.
‘‘(4) The number of stock or commodities
transactions which originate in such area or involve
institutions located in such area.
‘‘(5) The number of requests for information
which are made to the financial crimes enforcement
network and which originate from such area or in-
volve institutions or businesses located in such area
or residents of such area.
‘‘(6) Whether the area is a key transportation
hub with any international ports or airports or an
extensive highway system.
‘‘(7) Whether the area is an international cen-
ter for banking or commerce.
‘‘(8) The extent to which the area is a center
of financial crimes.
‘‘(9) The extent to which financial crimes and
financial crime-related activities in such area are
having a harmful impact in other areas of the coun-
try.
‘‘(10) The extent to which State and local gov-
ernments and State and local law enforcement agen-
cies have committed resources to respond to the fi-
nancial crime problem in the area and the degree to
which the commitment of such resources reflects a
determination by such government and agencies to
address the problem aggressively.
‘‘(11) The extent to which a significant increase
in the allocation of Federal resources to combat fi-
nancial crimes in such area is necessary to provide
an adequate State and local response to financial
crimes and financial crime-related activities in such
area.
‘‘SEC. 974. DESIGNATION OF LEAD AGENCY.
‘‘(a) IN GENERAL.—The Secretary shall have the
principal responsibility for carrying out the national strat-
egy for combating financial crimes.
‘‘(b) COORDINATION OF LAW ENFORCEMENT ACTIVI-
TIES.—
‘‘(1) NOTICE OF MAJOR CRIME REDUCTION AC-
TIVITIES.—The heads of the Department of the
Treasury law enforcement organizations, the Attor-
ney General, and the Director of the Federal Bureau
of Investigation shall notify the Secretary, in writ-
ing, of any major financial crime reduction activity
proposed to be carried out by the agency or organi-
zation of which such person is the head in an area
designated as a high-intensity financial crime area.
‘‘(2) ADVANCE NOTICE.—The notice required to
be submitted under paragraph (1) shall be provided
in advance of the initiation of the activity with re-
spect to which such notice is submitted unless ex-
tenuating circumstances require otherwise.
‘‘(3) OBJECTION OF SECRETARY.—If the Sec-
retary objects to the proposed activity for which the
Secretary receives notice under paragraph (1), the
Secretary shall notify the agency in writing of the
basis for the Secretary’s objection.
‘‘(c) FEDERAL RESPONSES AUTHORIZED.—With re-
spect to any area designated under section 3(a) as a high-
intensity financial crime area, the Secretary may take the
following initiatives:
‘‘(1) Develop a plan for the redistribution or
the temporary reassignment of the personnel and
physical resources of the Department of the Treas-
ury law enforcement organizations, the Department
of Justice (including the offices of the United States
Attorneys, the Federal Bureau of Investigation, and,
when appropriate, the United States Marshals Serv-
ice), and any other Federal law enforcement organi-
zation the President determines to be appropriate in
order to more effectively combat financial crimes in
such area and make recommendations to the head of
each such agency or department for such redistribu-
tion or temporary reassignment.
‘‘(2) Recommend increases in Federal assist-
ance which the Secretary determines is necessary to
combat financial crimes in such areas.
‘‘(3) Establish joint cooperative efforts, and co-
ordinate enforcement activities, between Federal law
enforcement agencies and State and local law en-
forcement agencies with respect to financial crimes
in such area.
‘‘SEC. 975. GRANTS FOR FIGHTING FINANCIAL CRIMES.
‘‘(a) PROGRAM AUTHORIZED.—The Secretary is au-
thorized to provide grants to any consortium consisting
of 3 or more State or local law enforcement agencies and
prosecutors to provide funding necessary to investigate
and prosecute financial crimes in high-intensity financial
crime areas.
‘‘(b) AUTHORIZATION.—There are authorized to be
appropriated such sums as may be necessary for fiscal
years beginning after fiscal year 1996 to carry out this
section.
‘‘SEC. 976. BUDGETS FOR LAW ENFORCEMENT ACTIVITIES
RELATING TO FINANCIAL CRIMES.
‘‘Section 1105 of title 31, United States Code, is
amended by adding at the end the following new sub-
section:
‘‘ ‘(h) The Director of the Office of Management and
Budget shall establish the funding for law enforcement ac-
tivities with respect to financial crimes for each applicable
department or agency as a separate object class in each
budget annually submitted to the Congress under this sec-
tion.’.
‘‘SEC. 977. DEFINITIONS.
‘‘For purposes of this subtitle, the following defini-
tions shall apply:
‘‘(1) DEPARTMENT OF THE TREASURY LAW EN-
FORCEMENT
ORGANIZATIONS.—The term ‘Depart-
ment of the Treasury law enforcement organizations’
has the meaning given to such term in section
9703(p) of title 31, United States Code.
‘‘(2) FINANCIAL
CRIME.—The term ‘financial
crime’ means an offense under section 1956 of title
18, United States Code, or section 5324 of title 31
of such Code, and any related Federal, State, or
local criminal offense.
‘‘(3) SECRETARY.—The term ‘Secretary’ means
the Secretary of the Treasury.’’.
(b) REPORT AND RECOMMENDATIONS.—Before Jan-
uary 1, 1997, the Secretary shall submit a report to the
Committee on Banking and Financial Services of the
House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate on the effective-
ness of and the need for the designation of areas, under
section 972 of Financial Institutions Reform, Recovery,
and Enforcement Act of 1989 (as added by subsection (a)
of this section), as high-intensity financial crime areas, to-
gether with such recommendations for legislation as the
Secretary may determine to be appropriate to carry out
the purposes of such section.
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