Money Laundering Penalties Act of 1984

Summary

Money Laundering Penalties Act of 1984 - Amends the Currency and Foreign Transactions Reporting Act to increase the civil penalty for willful violations of the Act by financial institutions from $1,000 to $10,000. Increases the criminal fine from $1,000 to $250,000 and imprisonment from one year to up to five years. Increases from $5,000 to $10,000 the value of monetary instruments exported from or imported into the United States above which a person is required to file a report. Grants customs officers authority to make warrantless searches for evidence of violations of such Act. Allows the Secretary of the Treasury to pay rewards to persons who provide information about violations of the Act which lead to the collection of a criminal fine, civil penalty, or forfeiture of currency of more than $10,000.

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Documents

3 official files

• Passed House amended

  summary · EN · 10 September 1984

  Open at official source

• Reported to House amended, Part I

  summary · EN · 17 August 1984

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• Introduced in House

  summary · EN · 26 July 1984

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