A bill to amend the Currency and Foreign Transactions Reporting Act to provide for more efficient enforcement, and for other purposes.

Summary

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.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 30 January 1980

  Open at official source

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