Amends the Currency and Foreign Transactions Reporting Act to extend the current reporting requirement to include persons attempting to transport monetary instruments into or from the United States.
Revises the forfeiture provision to subject monetary instruments to seizure only if the person required to file a report knowingly fails to do so.
Authorizes any customs officer who has reasonable cause to suspect that monetary instruments are being transported for which a report is required to search any vehicle, vessel, aircraft, envelope or other container, or person entering or departing from the United States, without a search warrant.
Authorizes the Secretary of the Treasury to pay a reward to any individual providing original information which leads to a recovery of at least $50,000 by way of a criminal fine, civil penalty, or forfeiture for a violation of such Act. Makes ineligible for such payment any Federal, State, or local government employee who furnishes information in the performance of official duties.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line