Sec. 6206. Sharing of threat pattern and trend information
216 words·~1 min read·
/bill/116/hr/6395/enr/section-6206·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5318(g) of title 31, United States Code, as amended by section 6202 of this division, is amended by adding at the end the following: In this paragraph— the terms Bank Secrecy Act and Federal functional regulator have the meanings given the terms in section 6003 of the Anti-Money Laundering Act of 2020 ; and the term typology means a technique to launder money or finance terrorism. Not less frequently than semiannually, the Director of the Financial Crimes Enforcement Network shall publish threat pattern and trend information to provide meaningful information about the preparation, use, and value of reports filed under this subsection by financial institutions, as well as other reports filed by financial institutions under the Bank Secrecy Act.
In each publication published under subparagraph (B), the Director shall provide financial institutions and the Federal functional regulators with typologies, including data that can be adapted in algorithms if appropriate, relating to emerging money laundering and terrorist financing threat patterns and trends. Nothing in this subsection may be construed as precluding the Secretary of the Treasury from— requiring reporting as provided under subparagraphs
(A)and
(B)of paragraph (6); or notifying a Federal law enforcement agency with respect to any transaction that the Secretary has determined directly implicates a national priority established by the Secretary. .