Sec. 19. Prohibition on concealment of the source of assets in monetary transactions
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Subchapter II of chapter 53 of title 31, United States Code, as amended by section 18 of this Act, is amended by adding at the end the following: No person shall knowingly conceal, falsify, or misrepresent, or attempt to conceal, falsify, or misrepresent, from or to a financial institution, a material fact concerning the ownership or control of assets involved in a monetary transaction if— the person or entity who owns or controls such assets is a senior foreign political figure, or any immediate family member or close associate of a senior foreign political figure, as set forth in this title or the regulations promulgated under this title; and the aggregate value of the assets involved in one or more such transactions is not less than $1,000,000.
No person shall knowingly conceal, falsify, or misrepresent, or attempt to conceal, falsify, or misrepresent, from or to a financial institution, a material fact concerning the source of funds in a monetary transaction that— involves an entity found to be a primary money laundering concern under section 5318A or the regulations promulgated under this title; and violates the prohibitions or conditions prescribed under section 5318A(b)(5) of this title or the regulations promulgated under this title.
A person convicted of an offense under subsection
(a)or (b), or a conspiracy to commit such offense, shall be imprisoned for not more than 10 years, fined not more than $1,000,000, or both. The court, in imposing sentence under subsection (c), shall order that the defendant forfeit to the United States any property involved in the offense and any property traceable thereto. The seizure, restraint, and forfeiture of property under this paragraph shall be governed by section 413 of the Controlled Substances Act ( 21 U.S.C. 853 ). Any property involved in a violation of subsection
(a)or (b), or a conspiracy to commit such violation, and any property traceable thereto may be seized and forfeited to the United States. Seizures and forfeitures under this paragraph shall be governed by the provisions of chapter 46 of title 18, relating to civil forfeitures, except that such duties, under the customs laws described in section 981(d) of title 18 given to the Secretary of the Treasury shall be performed by such officers, agents, and other persons as may be designated for that purpose by the Secretary of Homeland Security or the Attorney General. In this section— the term financial institution has the meaning given the term in section 5312(a)(2) of this title; and the term monetary transaction means the deposit, withdrawal, transfer, or exchange, in or affecting interstate or foreign commerce, of funds or a monetary instrument (as defined in section 1956(c)(5) of title 18) by, through, or to a financial institution (as defined in section 1956 of title 18)— including any transaction that would be a financial transaction under section 1956(c)(4)(B) of title 18; and not including any transaction necessary to preserve a person’s right to representation as guaranteed by the Sixth Amendment to the Constitution of the United States. . The table of sections for subchapter II of chapter 53 of title 31, United States Code, as amended by section 18 of this Act, is amended by adding at the end the following: 5334. Prohibition on concealment of the source of assets in monetary transactions. .
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Sec. 19
Prohibition on concealment of the source of assets in monetary transactions
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