imposed by any order issued under section 5326, or
the recordkeeping requirements imposed by any reg-
ulation prescribed under section 21 of the Federal
Deposit Insurance Act or section 123 of Public Law
91–508—’’;
(3) in paragraph (1) by inserting ‘‘, to file a re-
port or to maintain a record required by an order
issued under section 5326, or to maintain a record
required pursuant to any regulation prescribed
under section 21 of the Federal Deposit Insurance
Act or section 123 of Public Law 91–508’’ after
‘‘regulation prescribed under any such section’’; and
(4) in paragraph (2) by inserting ‘‘, to file a re-
port or to maintain a record required by any order
issued under section 5326, or to maintain a record
required pursuant to any regulation prescribed
under section 5326, or to maintain a record required
pursuant to any regulation prescribed under section
21 of the Federal Deposit Insurance Act or section
123 of Public Law 91–508,’’ after ‘‘regulation pre-
scribed under any such section’’.
(d) LENGTHENING EFFECTIVE PERIOD
OF GEO-
GRAPHIC TARGETING ORDERS.—Section 5326(d) of title
31, United States Code, is amended by striking ‘‘60’’ after
‘‘shall be effective for more than’’ and inserting ‘‘180’’.
SEC. 203. AUTHORIZATION TO INCLUDE SUSPICIONS OF IL-
LEGAL ACTIVITY IN WRITTEN EMPLOYMENT
REFERENCES.
Section 18 of the Federal Deposit Insurance Act (12
U.S.C. 1828) is amended by adding at the end the fol-
lowing new subsection:
‘‘(v) WRITTEN EMPLOYMENT REFERENCES MAY
CONTAIN SUSPICIONS OF INVOLVEMENT IN ILLEGAL AC-
TIVITY.—
‘‘(1) IN GENERAL.—Notwithstanding any other
provision of law, any insured depository institution,
and any director, officer, employee, or agent of such
institution, may disclose in any written employment
reference relating to a current or former institution-
affiliated party of such institution which is provided
to another insured depository institution in response
to a request from such other institution, information
concerning the possible involvement of such institu-
tion-affiliated party in potentially unlawful activity.
‘‘(2) DEFINITION.—For purposes of this sub-
section, the term ‘insured depository institution’ in-
cludes any uninsured branch or agency of a foreign
bank.’’.
SEC. 204. BANK SECRECY ACT ADVISORY GROUP.
Section 1564 of the Annunzio-Wylie Anti-Money
Laundering Act (31 U.S.C. 5311 note) is amended—
(1) in subsection (a), by inserting ‘‘, of non-
governmental organizations advocating financial pri-
vacy,’’ after ‘‘Drug Control Policy’’; and
(2) in subsection (c), by inserting ‘‘, other than
subsections (a) and (d) of such Act which shall
apply’’ before the period at the end.
SEC. 205. AGENCY REPORTS ON RECONCILING PENALTY
AMOUNTS.
Before the end of the 1-year period beginning on the
date of the enactment of this Act, the Secretary of the
Treasury and the Federal banking agencies (as defined in
section 3 of the Federal Deposit Insurance Act) shall each
submit their respective reports to the Congress containing
recommendations on possible legislation to conform the
penalties imposed on depository institutions (as defined in
section 3 of the Federal Deposit Insurance Act) for viola-
tions of subchapter II of chapter 53 of title 31, United
States Code, to the penalties imposed on such institutions
under section 8 of the Federal Deposit Insurance Act.
TITLE III—ANTICORRUPTION
MEASURES
SEC. 301. CORRUPTION OF FOREIGN GOVERNMENTS AND
RULING ELITES.
It is the sense of the Congress that, in deliberations
between the United States Government and any other
country on money laundering and corruption issues, the
United States Government should—
(1) emphasize an approach that addresses not
only the laundering of the proceeds of traditional
criminal activity but also the increasingly endemic
problem of governmental corruption and the corrup-
tion of ruling elites;
(2) encourage the enactment and enforcement
of laws in such country to prevent money laundering
and systemic corruption;
(3) make clear that the United States will take
all steps necessary to identify the proceeds of foreign
government corruption which have been deposited in
United States financial institutions and return such
proceeds to the citizens of the country to whom such
assets belong; and
(4) advance policies and measures to promote
good government and to prevent and reduce corrup-
tion and money laundering, including through in-
structions to the United States Executive Director of
each international financial institution (as defined in
section 1701(c) of the International Financial Insti-
tutions Act) to advocate such policies as a system-
atic element of economic reform programs and ad-
vice to member governments.
SEC. 302. SUPPORT FOR THE FINANCIAL ACTION TASK
FORCE ON MONEY LAUNDERING.
It is the sense of the Congress that—
(1) the United States should continue to ac-
tively and publicly support the objectives of the Fi-
nancial Action Task Force on Money Laundering
(hereafter in this section referred to as the
‘‘FATF’’) with regard to combating international
money laundering;
(2) the FATF should identify noncooperative
jurisdictions in as expeditious a manner as possible
and publicly release a list directly naming those ju-
risdictions identified;
(3) the United States should support the public
release of the list naming noncooperative jurisdic-
tions identified by the FATF;
(4) the United States should encourage the
adoption of the necessary international action to en-
courage compliance by the identified noncooperative
jurisdictions; and
(5) the United States should take the necessary
countermeasures to protect the United States econ-
omy against money of unlawful origin and encourage
other nations to do the same.
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