Sec. 1. Short title; table of contents

322 words·~1 min read·/bill/116/hr/2514/eh/section-1

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

This Act may be cited as the or the Coordinating Oversight, Upgrading and Innovating Technology, and Examiner Reform Act of 2019 COUNTER Act of 2019 . The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Bank Secrecy Act definition. Sec. 3. Determination of Budgetary Effects. Title I—Strengthening Treasury Sec. 101. Improving the definition and purpose of the Bank Secrecy Act. Sec. 102. Special hiring authority. Sec. 103. Civil Liberties and Privacy Officer.

Sec. 104. Civil Liberties and Privacy Council. Sec. 105. International coordination. Sec. 106. Treasury Attachés Program. Sec. 107. Increasing technical assistance for international cooperation. Sec. 108. FinCEN Domestic Liaisons. Sec. 109. FinCEN Exchange. Sec. 110. Study and strategy on trade-based money laundering. Sec. 111. Study and strategy on de-risking. Sec. 112. AML examination authority delegation study. Sec. 113. Study and strategy on Chinese money laundering. Title II—Improving AML/CFT Oversight Sec. 201.

Pilot program on sharing of suspicious activity reports within a financial group. Sec. 202. Sharing of compliance resources. Sec. 203. GAO Study on feedback loops. Sec. 204. FinCEN study on BSA value. Sec. 205. Sharing of threat pattern and trend information. Sec. 206. Modernization and upgrading whistleblower protections. Sec. 207. Certain violators barred from serving on boards of United States financial institutions. Sec. 208. Additional damages for repeat Bank Secrecy Act violators.

Sec. 209. Justice annual report on deferred and non-prosecution agreements. Sec. 210. Return of profits and bonuses. Sec. 211. Application of Bank Secrecy Act to dealers in antiquities. Sec. 212. Geographic targeting order. Sec. 213. Study and revisions to currency transaction reports and suspicious activity reports. Sec. 214. Streamlining requirements for currency transaction reports and suspicious activity reports. Title III—Modernizing the AML System Sec. 301. Encouraging innovation in BSA compliance.

Sec. 302. Innovation Labs. Sec. 303. Innovation Council. Sec. 304. Testing methods rulemaking. Sec. 305. FinCEN study on use of emerging technologies. Sec. 306. Discretionary surplus funds.