103D CONGRESS
2D SESSION
H. R. 3235
AN ACT
To amend subchapter II of chapter 53 of title 31, United
States Code, to improve enforcement of antimoney laun-
dering laws, 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; TABLE OF CONTENTS.
(a) SHORT TITLE.—This Act may be cited as the
‘‘Money Laundering Suppression Act of 1994’’.
(b) TABLE OF CONTENTS.—
Sec. 1. Short title; table of contents.
Sec. 2. Reform of CTR exemption requirements to reduce number and size of
reports consistent with effective law enforcement.
Sec. 3. Single designee for reporting of suspicious transactions.
Sec. 4. Improvement of identification of money laundering schemes.
Sec. 5. Negotiable instruments drawn on foreign banks subject to recordkeeping
and reporting requirements.
Sec. 6. Imposition of civil money penalties by appropriate Federal banking
agencies.
Sec. 7. Uniform State licensing and regulation of check cashing, currency ex-
change, and money transmitting businesses.
Sec. 8. Registration of money transmitting businesses to promote effective law
enforcement.
Sec. 9. Uniform Federal regulation of casinos.
Sec. 10. Uniform Federal administration of recordkeeping and reporting re-
quirements.
Sec. 11. Criminal and civil penalty for structuring domestic and international
transactions.
Sec. 12. GAO study of cashiers’ checks.
Sec. 13. Technical corrections.
SEC. 2. REFORM OF CTR EXEMPTION REQUIREMENTS TO
REDUCE NUMBER AND SIZE OF REPORTS
CONSISTENT 
WITH 
EFFECTIVE 
LAW 
EN-
FORCEMENT.
(a) IN GENERAL.—Section 5313 of title 31, United
States Code, is amended by adding at the end the follow-
ing new subsections:
‘‘(d) MANDATORY EXEMPTIONS FROM REPORTING
REQUIREMENTS.—
‘‘(1) IN
GENERAL.—The Secretary of the
Treasury 
shall 
exempt, 
pursuant 
to 
section
5318(a)(5), a depository institution from the report-
ing requirements of subsection (a) with respect to
transactions between the depository institution and
the following categories of entities:
‘‘(A) Another depository institution.
‘‘(B) A department or agency of the
United States, any State, or any political sub-
division of any State.
‘‘(C) Any entity established under the laws
of the United States, any State, or any political
subdivision of any State, or under an interstate
compact between 2 or more States, which exer-
cises governmental authority on behalf of the
United States, the State, or the political sub-
division.
‘‘(D) Any business or category of business
the reports on which have little or no value for
law enforcement purposes.
‘‘(2) NOTICE OF EXEMPTION.—The Secretary
of the Treasury shall publish in the Federal Register
at such times as the Secretary determines to be ap-
propriate (but not less frequently than once each
year) a list of all the entities whose transactions
with a depository institution are exempt under this
subsection from the reporting requirements of sub-
section (a).
‘‘(e) DISCRETIONARY EXEMPTIONS FROM REPORT-
ING REQUIREMENTS.—
‘‘(1) IN
GENERAL.—The Secretary of the
Treasury 
may 
exempt, 
pursuant 
to 
section
5318(a)(5), a depository institution from the report-
ing requirements of subsection (a) with respect to
transactions between the depository institution and a
qualified business customer of the institution on the
basis of information submitted to the Secretary by
the institution in accordance with procedures which
the Secretary shall establish.
‘‘(2) QUALIFIED
BUSINESS
CUSTOMER
DE-
FINED.—For purposes of this subsection, the term
‘qualified business customer’ means a business
which—
‘‘(A) maintains a transaction account (as
defined in section 19(b)(1)(C) of the Federal
Reserve Act) at the depository institution;
‘‘(B) frequently engages in transactions
with the depository institution which are subject
to the reporting requirements of subsection (a);
and
‘‘(C) meets criteria which the Secretary de-
termines are sufficient to ensure that the pur-
poses of this subchapter are carried out without
requiring a report with respect to such trans-
actions.
‘‘(3) CRITERIA
FOR
EXEMPTION.—The Sec-
retary of the Treasury shall establish, by regulation,
the criteria for granting and maintaining an exemp-
tion under paragraph (1).
‘‘(4) GUIDELINES.—
‘‘(A) IN GENERAL.—The Secretary of the
Treasury shall establish guidelines for deposi-
tory institutions to follow in selecting customers
for an exemption under this subsection.
‘‘(B) CONTENTS.—The guidelines may in-
clude a description of the types of businesses or
an itemization of specific businesses for which
no exemption will be granted under this sub-
section to any depository institution.
‘‘(5) ANNUAL REVIEW.—The Secretary of the
Treasury shall prescribe regulations requiring each
depository institution to—
‘‘(A) review, at least once each year, the
qualified business customers of such institution
with respect to whom an exemption has been
granted under this subsection; and
‘‘(B) upon the completion of such review,
resubmit information about such customers,
with such modifications as the institution deter-
mines to be appropriate, to the Secretary for
the Secretary’s approval.
‘‘(6) 2-YEAR PHASE-IN PROVISION.—During the
2-year period beginning on the date of the enact-
ment of the Money Laundering Suppression Act of
1994, this subsection shall be applied by the Sec-
retary on the basis of such criteria as the Secretary
determines to be appropriate to achieve an orderly
implementation of the requirements of this sub-
section.
‘‘(f) PROVISIONS APPLICABLE TO MANDATORY AND
DISCRETIONARY EXEMPTIONS.—
‘‘(1) LIMITATION ON LIABILITY OF DEPOSITORY
INSTITUTIONS.—No depository institution shall be
subject to any penalty which may be imposed under
this subchapter for the failure of the institution to
file a report with respect to a transaction with a cus-
tomer for whom an exemption has been granted
under subsection (d) or (e) unless the institution—
‘‘(A) knowingly files false or incomplete in-
formation to the Secretary with respect to the
transaction or the customer engaging in the
transaction; or
‘‘(B) has reason to believe at the time the
exemption is granted or the transaction is en-
tered into that the customer or the transaction
does not meet the criteria established for grant-
ing such exemption.
‘‘(2) COORDINATION
WITH
OTHER
PROVI-
SIONS.—Any exemption granted by the Secretary of
the Treasury under section 5318(a) in accordance
with this section, and any transaction which is sub-
ject to such exemption, shall be subject to any other
provision of law applicable to such exemption, in-
cluding—
‘‘(A) the authority of the Secretary, under
section 5318(a)(5), to revoke such exemption at
any time; and
‘‘(B) any requirement to report, or any au-
thority to require a report on, any possible vio-
lation of any law or regulation or any suspected
criminal activity.
‘‘(g) DEPOSITORY INSTITUTION DEFINED.—For pur-
poses of this section, the term ‘depository institution’—
‘‘(1) has the meaning given to such term in sec-
tion 19(b)(1)(A) of the Federal Reserve Act; and
‘‘(2) includes—
‘‘(A) any branch, agency, or commercial
lending company (as such terms are defined in
section 1(b) of the International Banking Act of
1978);
‘‘(B) any corporation chartered under sec-
tion 25A of the Federal Reserve Act; and
‘‘(C) any corporation having an agreement
or undertaking with the Board of Governors of
the Federal Reserve System under section 25 of
the Federal Reserve Act.’’.
(b) REPORT REDUCTION GOAL; REPORTS.—
(1) IN GENERAL.—In implementing the amend-
ment made by subsection (a), the Secretary of the
Treasury shall seek to reduce, within a reasonable
period of time, the number of reports required to be
filed in the aggregate by depository institutions pur-
suant to section 5313(a) of title 31, United States
Code, by at least 30 percent of the number filed dur-
ing the year preceding the date of the enactment of
this Act.
(2) INTERIM
REPORT.—The Secretary of the
Treasury shall submit a report to the Congress not
later than the end of the 180-day period beginning
on the date of the enactment of this Act on the
progress made by the Secretary in implementing the
amendment made by subsection (a).
(3) ANNUAL
REPORT.—The Secretary of the
Treasury shall submit an annual report to the Con-
gress after the end of each of the first 5 calendar
years which begin after the date of the enactment of
this Act on the extent to which the Secretary has re-
duced the overall number of currency transaction re-
ports filed with the Secretary pursuant to section
5313(a) of title 31, United States Code, consistently
with the purposes of such section and effective law
enforcement.
(c) STREAMLINED CURRENCY TRANSACTION RE-
PORTS.—The Secretary of the Treasury shall take such
action as may be appropriate to redesign the format of
reports required to be filed by any financial institution (as
defined in section 5312(a)(2) of title 31, United States
Code) under section 5313(a) of title 31, United States
Code, to eliminate the need to report information which
has little or no value for law enforcement purposes and
reduce the time and effort required to prepare such report
for filing by any such financial institution under such
section.
SEC. 3. SINGLE DESIGNEE FOR REPORTING OF SUSPICIOUS
TRANSACTIONS.
(a) IN GENERAL.—Section 5318(g) of title 31,
United States Code, is amended by adding at the end the
following new paragraph:
‘‘(4) SINGLE DESIGNEE FOR REPORTING SUS-
PICIOUS TRANSACTIONS.—
‘‘(A) IN GENERAL.—In requiring reports
under paragraph (1) of suspicious transactions,
the Secretary of the Treasury shall designate,
to the extent practicable and appropriate, a sin-
gle officer or agency of the United States to
whom such reports shall be made.
‘‘(B) DUTY OF DESIGNEE.—The officer or
agency of the United States designated by the
Secretary of the Treasury pursuant to subpara-
graph (A) shall refer any report of a suspicious
transaction to any appropriate law enforcement
or supervisory agency.
‘‘(C) COORDINATION
WITH
OTHER
RE-
PORTING
REQUIREMENTS.—Subparagraph (A)
shall not be construed as precluding any super-
visory agency for any financial institution from
requiring the financial institution to submit any
information or report to the agency or another
agency pursuant to any provision of law other
than this subsection.’’.
(b) REPORTS.—
(1) REPORTS REQUIRED.—The Secretary of the
Treasury shall submit an annual report to the Con-
gress at the times required under paragraph (2) on
the number of suspicious transactions reported to
the officer or agency designated under section
5318(g)(4)(A) of title 31, United States Code, dur-
ing the period covered by the report and the disposi-
tion of such reports.
(2) TIME FOR SUBMITTING REPORTS.—The 1st
report required under paragraph (1) shall be filed
before the end of the 1-year period beginning on the
date of the enactment of the Money Laundering
Suppression Act of 1994 and each subsequent report
shall be filed within 90 days after the end of each
of the 5 calendar years which begin after such date
of enactment.
(c) DESIGNATION REQUIRED TO BE MADE EXPEDI-
TIOUSLY.—The initial designation of an officer or agency
of the United States pursuant to the amendment made
by subsection (a) shall be made before the end of the 180-
day period beginning on the date of the enactment of this
Act.
SEC. 4. IMPROVEMENT OF IDENTIFICATION OF MONEY
LAUNDERING SCHEMES.
(a) ENHANCED TRAINING, EXAMINATIONS, AND RE-
FERRALS BY BANKING AGENCIES.—Before the end of the
6-month period beginning on the date of the enactment
of this Act, each appropriate Federal banking agency
shall, in consultation with the Secretary of the Treasury
and other appropriate law enforcement agencies—
(1) review and enhance training and examina-
tion procedures to improve the identification of
money laundering schemes involving depository insti-
tutions; and
(2) review and enhance procedures for referring
cases to any appropriate law enforcement agency.
(b) IMPROVED REPORTING OF CRIMINAL SCHEMES
BY LAW ENFORCEMENT AGENCIES.—The Secretary of
the Treasury and each appropriate law enforcement agen-
cy shall provide, on a regular basis, information regarding
money laundering schemes and activities involving deposi-
tory institutions to each appropriate Federal banking
agency in order to enhance the agency’s ability to examine
for and identify money laundering activity.
(c) REPORT TO CONGRESS.—The Financial Institu-
tions Examination Council shall submit a report on the
progress made in carrying out subsection (a) and the use-
fulness of information received pursuant to subsection (b)
to the Congress by the end of the 1-year period beginning
on the date of the enactment of this Act.
(d) DEFINITIONS.—The terms ‘‘appropriate Federal
banking agency’’ and ‘‘Federal banking agencies’’ have the
same meanings as in section 3 of the Federal Deposit In-
surance Act.
SEC. 5. NEGOTIABLE INSTRUMENTS DRAWN ON FOREIGN
BANKS SUBJECT TO RECORDKEEPING AND
REPORTING REQUIREMENTS.
Section 5312(a)(3) of title 31, United States Code,
is amended—
(1) by striking ‘‘and’’ at the end of subpara-
graph (A);
(2) by striking the period at the end of sub-
paragraph (B) and inserting ‘‘; and’’; and
(3) by adding at the end the following new sub-
paragraph:
‘‘(C) as the Secretary of the Treasury shall
provide by regulation for purposes of section
5316, checks, drafts, notes, money orders, and
other similar instruments which are drawn on
or by a foreign financial institution and are not
in bearer form.’’.
SEC. 6. IMPOSITION OF CIVIL MONEY PENALTIES BY AP-
PROPRIATE FEDERAL BANKING AGENCIES.
Section 5321 of title 31, United States Code, is
amended by adding at the end the following new sub-
section:
‘‘(e) DELEGATION OF ASSESSMENT AUTHORITY TO
BANKING AGENCIES.—
‘‘(1) IN
GENERAL.—The Secretary of the
Treasury shall delegate, in accordance with section
5318(a)(1) and subject to such terms and conditions
as the Secretary may impose in accordance with
paragraph (3), any authority of the Secretary to as-
sess a civil money penalty under this section on de-
pository institutions (as defined in section 3 of the
Federal Deposit Insurance Act) to the appropriate
Federal banking agencies (as defined in such section
3).
‘‘(2) AUTHORITY
OF
AGENCIES.—Subject to
any term or condition imposed by the Secretary of
the Treasury under paragraph (3), the provisions of
this section shall apply to an appropriate Federal
banking agency to which is delegated any authority
of the Secretary under this section in the same man-
ner such provisions apply to the Secretary.
‘‘(3) TERMS AND CONDITIONS.—
‘‘(A) IN GENERAL.—The Secretary of the
Treasury shall prescribe by regulation the terms
and conditions which shall apply to any delega-
tion under paragraph (1).
‘‘(B) MAXIMUM
DOLLAR
AMOUNT.—The
terms and conditions authorized under subpara-
graph (A) may include, in the Secretary’s sole
discretion, a limitation on the amount of any
civil penalty which may be assessed by an ap-
propriate Federal banking agency pursuant to a
delegation under paragraph (1).’’.
SEC. 7. UNIFORM STATE LICENSING AND REGULATION OF
CHECK 
CASHING, 
CURRENCY 
EXCHANGE,
AND MONEY TRANSMITTING BUSINESSES.
(a) UNIFORM LAWS AND ENFORCEMENT.—For pur-
poses of preventing money laundering and protecting the
payment system from fraud and abuse, it is the sense of
the Congress that the several States should—
(1) establish uniform laws for licensing and reg-
ulating businesses which—
(A) provide check cashing, currency ex-
change, or money transmitting or remittance
services, or issue or redeem money orders, trav-
elers’ checks, and other similar instruments;
and
(B) are not depository institutions (as de-
fined in section 19(b)(1)(A) of the Federal Re-
serve Act); and
(2) provide sufficient resources to the appro-
priate State agency to enforce such laws and regula-
tions prescribed pursuant to such laws.
(b) MODEL STATUTE.—It is the sense of the Con-
gress that the several States should develop, through the
auspices of the National Conference of Commissioners on
Uniform State Laws, the American Law Institute, or such
other forum as the States may determine to be appro-
priate, a model statute to carry out the goals described
in subsection (a) which would include the following:
(1) LICENSING
REQUIREMENTS.—A require-
ment that any business described in subsection
(a)(1) be licensed and regulated by an appropriate
State agency in order to engage in any such activity
within the State.
(2) LICENSING
STANDARDS.—A requirement
that—
(A) in order for any business described in
subsection (a)(1) to be licensed in the State, the
appropriate State agency shall review and ap-
prove—
(i) the business record, the fee struc-
ture, and the capital adequacy of the busi-
ness seeking the license; and
(ii) the competence, experience, integ-
rity, and financial ability of any individual
who—
(I) is a director, officer, or super-
visory employee of such business; or
(II) owns or controls such busi-
ness; and
(B) any record, on the part of any business
seeking the license or any person referred to in
subparagraph (A)(ii), of—
(i) any criminal activity;
(ii) any fraud or other act of personal
dishonesty;
(iii) any act, omission, or practice
which constitutes a breach of a fiduciary
duty; or
(iv) any suspension or removal, by any
agency or department of the United States
or any State, from participation in the con-
duct of any federally or State licensed or
regulated business,
may be grounds for the denial of any such li-
cense by the appropriate State agency.
(3) PROCEDURES
TO
ENSURE
COMPLIANCE
WITH FEDERAL CASH TRANSACTION REPORTING RE-
QUIREMENTS.—A civil or criminal penalty for oper-
ating any business referred to in paragraph (1)
without establishing and complying with appropriate
procedures to ensure compliance with subchapter II
of chapter 53 of title 31, United States Code (relat-
ing to records and reports on monetary instruments
transactions).
(4) CRIMINAL PENALTIES FOR OPERATION OF
BUSINESS WITHOUT A LICENSE.—A criminal penalty
for operating any business referred to in paragraph
(1) without a license within the State after the end
of an appropriate transition period beginning on the
date of the enactment of such model statute by the
State.
(c) STUDY REQUIRED.—The Secretary of the Treas-
ury shall conduct a study of—
(1) the progress made by the several States in
developing and enacting a model statute which—
(A) meets the requirements of subsection
(b); and
(B) furthers the goals of—
(i) preventing money laundering by
businesses which are required to be li-
censed under any such statute; and
(ii) protecting the payment system, in-
cluding the receipt, payment, collection,
and clearing of checks, from fraud and
abuse by such businesses; and
(2) the adequacy of—
(A) the activity of the several States in en-
forcing the requirements of such statute; and
(B) the resources made available to the ap-
propriate State agencies for such enforcement
activity.
(d) REPORT REQUIRED.—Before the end of the 3-
year period beginning on the date of the enactment of this
Act and by the end of each of the first 2 1-year periods
beginning after the end of such 3-year period, the Sec-
retary of the Treasury shall submit a report to the Con-
gress containing the findings and recommendations of the
Secretary in connection with the study under subsection
(c), together with such recommendations for legislative
and administrative action as the Secretary may determine
to be appropriate.
(e) RECOMMENDATIONS IN CASES OF INADEQUATE
REGULATION AND ENFORCEMENT BY STATES.—If the
Secretary of the Treasury determines that any State has
been unable to—
(1) enact a statute which meets the require-
ments described in subsection (b);
(2) undertake adequate activity to enforce such
statute; or
(3) make adequate resources available to the
appropriate State agency for such enforcement activ-
ity,
the report submitted pursuant to subsection (d) shall con-
tain recommendations of the Secretary which are designed
to facilitate the enactment and enforcement by the State
of such a statute.
(f) FEDERAL FUNDING STUDY.—
(1) STUDY REQUIRED.—The Secretary of the
Treasury shall conduct a study to identify possible
available sources of Federal funding to cover costs
which will be incurred by the States in carrying out
the purposes of this section.
(2) REPORT.—The Secretary of the Treasury
shall submit a report to the Congress on the study
conducted pursuant to paragraph (1) before the end
of the 18-month period beginning on the date of the
enactment of this Act.
SEC. 8. REGISTRATION OF MONEY TRANSMITTING BUSI-
NESSES TO PROMOTE EFFECTIVE LAW EN-
FORCEMENT.
(a) FINDINGS AND PURPOSES.—
(1) FINDINGS.—The Congress hereby finds the
following:
(A) Money transmitting businesses are
subject to the recordkeeping and reporting re-
quirements of subchapter II of chapter 53 of
title 31, United States Code.
(B) Money transmitting businesses are
largely unregulated businesses and are fre-
quently used in sophisticated schemes to—
(i) transfer large amounts of money
which are the proceeds of unlawful enter-
prises; and
(ii) evade the requirements of such
subchapter II, the Internal Revenue Code
of 1986, and other laws of the United
States.
(C) Information on the identity of money
transmitting businesses and the names of the
persons who own or control, or are officers or
employees of, a money transmitting business
would have a high degree of usefulness in crimi-
nal, tax, or regulatory investigations and pro-
ceedings.
(2) PURPOSE.—It is the purpose of this section
to establish a registration requirement for businesses
engaged in providing check cashing, currency ex-
change, or money transmitting or remittance serv-
ices, or issuing or redeeming money orders, travel-
ers’ checks, and other similar instruments to assist
the Secretary of the Treasury, the Attorney General,
and other supervisory and law enforcement agencies
to effectively enforce the criminal, tax, and regu-
latory laws and prevent such money transmitting
businesses from engaging in illegal activities.
(b) IN GENERAL.—Subchapter II of chapter 53 of
title 31, United States Code, is amended by adding at the
end the following new section:
‘‘§ 5329. Registration of money transmitting busi-
nesses
‘‘(a) REGISTRATION
WITH
SECRETARY
OF
THE
TREASURY REQUIRED.—
‘‘(1) IN GENERAL.—Any person who owns or
controls a money transmitting business which is not
a depository institution (as defined in section
19(b)(1)(A) of the Federal Reserve Act) shall reg-
ister the business (whether or not the business is li-
censed as a money transmitting business in any
State) with the Secretary of the Treasury before the
end of the 180-day period beginning on the later
of—
‘‘(A) the date of the enactment of the
Money Laundering Suppression Act of 1994; or
‘‘(B) the date the business is established.
‘‘(2) FORM AND MANNER OF REGISTRATION.—
Subject to the requirements of subsection (b), the
Secretary of the Treasury shall prescribe, by regula-
tion, the form and manner for registering a money
transmitting business pursuant to paragraph (1).
‘‘(3) BUSINESSES REMAIN SUBJECT TO STATE
LAW.—This section shall not be construed as super-
seding any requirement of State law relating to
money transmitting businesses operating in such
State.
‘‘(4) FALSE AND INCOMPLETE INFORMATION.—
The filing of false or materially incomplete informa-
tion in connection with the registration of a money
transmitting business shall be considered as a failure
to comply with the requirements of this subchapter.
‘‘(b) CONTENTS OF REGISTRATION.—The registra-
tion of a money transmitting business under subsection
(a) shall include the following information:
‘‘(1) The name and location of the business.
‘‘(2) The name and address of each person
who—
‘‘(A) owns or controls the business;
‘‘(B) is an director or officer of the busi-
ness; or
‘‘(C) otherwise participates in the conduct
of the affairs of the business.
‘‘(3) The name and address of any depository
institution at which the business maintains a trans-
action account (as defined in section 19(b)(1)(C) of
the Federal Reserve Act).
‘‘(4) An estimate of the volume of business in
the coming year (which shall be reported annually to
the Secretary).
‘‘(5) Such other information as the Secretary of
the Treasury may require.
‘‘(c) AGENTS
OF
MONEY
TRANSMITTING
BUSI-
NESSES.—
‘‘(1) MAINTENANCE OF LISTS OF AGENTS OF
MONEY
TRANSMITTING
BUSINESSES.—Pursuant to
regulations which the Secretary of the Treasury
shall prescribe, each money transmitting business
shall—
‘‘(A) maintain a list containing the names
and addresses of all persons authorized to act
as an agent for such business in connection
with activities described in subsection (d)(1)(A)
and such other information about such agents
as the Secretary may require; and
‘‘(B) make the list and other information
available on request to any appropriate law en-
forcement agency.
‘‘(2) TREATMENT OF AGENT AS MONEY TRANS-
MITTING BUSINESS.—The Secretary of the Treasury
shall prescribe regulations establishing, on the basis
of such criteria as the Secretary determines to be
appropriate, a threshold point for treating an agent
of a money transmitting business as a money trans-
mitting business for purposes of this section.
‘‘(d) DEFINITIONS.—For purposes of this section:
‘‘(1) MONEY
TRANSMITTING
BUSINESS.—The
term ‘money transmitting business’ means any busi-
ness other than the United States Postal Service
which—
‘‘(A) provides check cashing, currency ex-
change, or money transmitting or remittance
services, or issues or redeems money orders,
travelers’ checks, and other similar instruments;
‘‘(B) is required to file reports under sec-
tion 5313; and
‘‘(C) is not a depository institution (as de-
fined in section 19(b)(1)(A) of the Federal Re-
serve Act).
‘‘(2) MONEY
TRANSMITTING
SERVICE.—The
term ‘money transmitting service’ includes accepting
currency or funds denominated in the currency of
any country and transmitting the currency or funds,
or the value of the currency or funds, by any means
through a financial agency or institution, a Federal
reserve bank or other facility of the Board of Gov-
ernors of the Federal Reserve System, or an elec-
tronic funds transfer network.
‘‘(e) CIVIL PENALTY
FOR FAILURE TO COMPLY
WITH REGISTRATION REQUIREMENTS.—
‘‘(1) IN GENERAL.—Any person who fails to
comply with the money transmitting business reg-
istration requirements under subsection (a) or regu-
lations prescribed under such subsection shall be lia-
ble to the United States for a civil penalty of $5,000
for each such violation.
‘‘(2) CONTINUING VIOLATION.—Each day a vio-
lation described in paragraph (1) continues shall
constitute a separate violation for purposes of such
paragraph.
‘‘(3) ASSESSMENTS.—Any penalty imposed
under this subsection shall be assessed and collected
by the Secretary of the Treasury in the manner pro-
vided in section 5321 and any such assessment shall
be subject to the provisions of such section.’’.
(c) CRIMINAL PENALTY FOR FAILURE TO COMPLY
WITH
REGISTRATION
REQUIREMENTS.—Section
1960(b)(1) of title 18, United States Code, is amended
to read as follows:
‘‘(1) the term ‘illegal money transmitting busi-
ness’ means a money transmitting business which
affects interstate or foreign commerce in any man-
ner or degree and—
‘‘(A) is intentionally operated without an
appropriate money transmitting license in a
State where such operation is punishable as a
misdemeanor or a felony under State law; or
‘‘(B) fails to comply with the money trans-
mitting 
business 
registration 
requirements
under section 5329 of title 31, United States
Code, or regulations prescribed under such
section;’’.
(d) CIVIL FORFEITURE.—Section 981(a)(1)(A) of
title 18, United States Code, is amended by striking ‘‘or
of section 1956 or 1957 of this title,’’ and inserting ‘‘,
or of section 1956, 1957, or 1960 of this title,’’.
(e) CLERICAL AMENDMENT.—The table of sections
for chapter 53 of title 31, United States Code, is amended
by inserting after the item relating to section 5328 the
following new item:
‘‘5329. Registration of money transmitting businesses.’’.
SEC. 9. UNIFORM FEDERAL REGULATION OF CASINOS.
AMENDMENT TO DEFINITION OF FINANCIAL INSTI-
TUTION TO SPECIFICALLY INCLUDE CERTAIN CASINOS.—
Section 5312(a)(2) of title 31, United States Code, is
amended—
(1) by redesignating subparagraphs (X) and
(Y) as subparagraphs (Y) and (Z), respectively; and
(2) by inserting after subparagraph (W) the fol-
lowing new subparagraph:
‘‘(X) a casino, gambling casino, or gaming
establishment with an annual gaming revenue
of more than $1,000,000 which—
‘‘(i) is licensed as a casino or gam-
bling casino under the laws of any State or
any political subdivision of any State; or
‘‘(ii) is an Indian gaming operation
conducted under or pursuant to the Indian
Gaming Regulatory Act other than an op-
eration which is limited to class I gaming
(as defined in section 4(6) of such Act);’’.
SEC. 10. UNIFORM FEDERAL ADMINISTRATION OF RECORD-
KEEPING AND REPORTING REQUIREMENTS.
(a) IN GENERAL.—Section 5318 of title 31, United
States Code, is amended by adding at the end the follow-
ing new subsection:
‘‘(i) UNIFORM ADMINISTRATION OF SUBCHAPTER.—
‘‘(1) NO
EXEMPTIONS.—No exemption from
any recordkeeping or reporting requirement of this
subchapter, including paragraph (1), or of any regu-
lation prescribed pursuant to this subchapter may be
granted to—
‘‘(A) any State or any political subdivision
of a State on behalf of any financial institution
which but, for such exemption, would be re-
quired to maintain records or file reports under
this subchapter or regulations prescribed by the
Secretary of the Treasury pursuant to this sub-
chapter; or
‘‘(B) any financial institution on the basis
that any State, any political subdivision of any
State, or any officer, agency, or other authority
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-