Records and Reports on Monetary Instruments Transactions Amendments of 1984

Summary

Records and Reports on Monetary Instruments Transactions Amendments of 1984 - Increases the threshold reporting level for foreign currency transactions from $5,000 to $10,000. Makes it a Federal offense to attempt to transport or to attempt to have transported currency or monetary instruments outside the United States without filing required reports. Permits a customs officer to stop and search, without a search warrant, a vehicle, vessel, aircraft, or other conveyance, envelope or other container, or person entering or departing from the United States on which or whom the officer has reasonable cause to believe a monetary instrument for which a report is required is being transported in violation of the law. Increases the civil and criminal penalties imposed upon domestic financial institutions for violation of regulations concerning records and reports on domestic and foreign monetary instrument transactions. Permits the Secretary of the Treasury to pay a reward to an individual who provides original information leading to recovery of a criminal fine, civil penalty, or forfeiture exceeding $50,000 for a violation of such reporting requirements.

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1 official file

• Introduced in House

  summary · EN · 25 July 1984

  Open at official source

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