§ 1960. Prohibition of unlicensed money transmitting businesses
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(a)Whoever knowingly conducts, controls, manages, supervises, directs, or owns all or part of an unlicensed money transmitting business, shall be fined in accordance with this title or imprisoned not more than 5 years, or both.
(b)As used in this section—
(1)the term “unlicensed money transmitting business” means a money transmitting business which affects interstate or foreign commerce in any manner or degree and—
(A)is operated without an appropriate money transmitting license in a State where such operation is punishable as a misdemeanor or a felony under State law, whether or not the defendant knew that the operation was required to be licensed or that the operation was so punishable;
(B)fails to comply with the money transmitting business registration requirements under section 5330 of title 31, United States Code, or regulations prescribed under such section; or
(C)otherwise involves the transportation or transmission of funds that are known to the defendant to have been derived from a criminal offense or are intended to be used to promote or support unlawful activity;
(2)the term “money transmitting” includes transferring funds on behalf of the public by any and all means including but not limited to transfers within this country or to locations abroad by wire, check, draft, facsimile, or courier; and
(3)the term “State” means any State of the United States, the District of Columbia, the Northern Mariana Islands, and any commonwealth, territory, or possession of the United States.
(Added Pub. L. 102–550, title XV, § 1512(a), Oct. 28, 1992, 106 Stat. 4057; amended Pub. L. 103–325, title IV, § 408(c), Sept. 23, 1994, 108 Stat. 2252; Pub. L. 107–56, title III, § 373(a), Oct. 26, 2001, 115 Stat. 339; Pub. L. 109–162, title XI, § 1171(a)(2), Jan. 5, 2006, 119 Stat. 3123.)
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IRM
- IRM 9.1.2Authority
- IRM 9.4.1Investigation Initiation
- IRM 9.1.3Criminal Statutory Provisions and Common Law
- IRM 9.9.4Criminal Investigation Management Information System Data Fields
- IRM 4.26.5Bank Secrecy Act History and Law
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- IRM 9.6.2Plea Agreements and Sentencing Process
- IRM 4.26.7Bank Secrecy Act Penalties
- IRM 9.5.5Money Laundering and Currency Crimes
- IRM 9.7.3Criminal Forfeiture
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- Pub. L. 102–550, title XV, § 1512(a)
- 106 Stat. 4057
- Pub. L. 103–325, title IV, § 408(c)
- 108 Stat. 2252
- Pub. L. 107–56, title III, § 373(a)
- 115 Stat. 339
- Pub. L. 109–162, title XI, § 1171(a)(2)
- 119 Stat. 3123
- Pub. L. 109–162
- Pub. L. 107–56
- Pub. L. 103–325
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§ 1960
Prohibition of unlicensed money transmitting businesses
Fed. Reg.×38
IRM×27
C.F.R.×2
U.S.C.×1
Pub. L.Pub. L. 102–550, title XV, § 1512(a)
Stat.106 Stat. 4057
Pub. L.Pub. L. 103–325, title IV, § 408(c)
Stat.108 Stat. 2252
Pub. L.Pub. L. 107–56, title III, § 373(a)
Cites 12 · showing 6Cited by 68 across 4 sources