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Code · BILL · 114th Congress · H.R. 4242 (Introduced in House) — To strengthen the Federal statutes designed to deter money laundering and terrorism financing, and for other purposes. · Sec. 301

Sec. 301. Safe harbor protections

172 words·~1 min read·/bill/114/hr/4242/ih/section-301·

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Section 5318(g)(3)(B) of title 31, United States Code, is amended— in clause (i), by striking or at the end; in clause (ii), by striking the period and inserting ; or ; and by adding at the end the following: any duty or requirement of a financial institution or any director, officer, employee, or agent of such institution to demonstrate that a disclosure described in subparagraph
(A)is made in good faith. . Section 314 of the USA PATRIOT Act ( 31 U.S.C. 5311 note) is amended— in subsection (b)— by striking terrorist or money laundering activities and inserting terrorist or money laundering activities or a specified unlawful activity (as defined in section 1956(c)(7) of title 18, United States Code) ; and by striking terrorist acts or money laundering activities and inserting such acts or activities ; and in subsection (c), by striking terrorist acts or money laundering activities and inserting terrorist or money laundering activities or a specified unlawful activity (as defined in section 1956(c)(7) of title 18, United States Code) .
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