International Counter-Money Laundering and Foreign Anticorruption Act of 2001

Summary

International Counter-Money Laundering and Foreign Anticorruption Act of 2001 - Authorizes the Secretary of the Treasury to require domestic financial institutions and agencies to take special measures, such as requiring record-keeping and reporting of certain transactions, identification of beneficial owners, and limitations on payable through and correspondent accounts, if the Secretary finds that a jurisdiction outside the United States, financial institutions operating abroad, or one or more classes of transactions within or involving a foreign jurisdiction is of primary money laundering concern. Immunizes from liability financial institutions and their staff making certain disclosures of possible legal violations to a government agency. Prohibits them from notifying anyone involved that the transaction has been reported. Sets penalties for violation of geographic targeting orders and record-keeping requirements. Amends: (1) the Federal Deposit Insurance Act to authorize an insured depository institution to disclose certain information concerning the possible involvement of an institution-affiliated party in potentially unlawful activity; and (2) the Annunzio-Wylie Anti-Money Laundering Act to make certain provisions of the Bank Secrecy Act applicable to it. Expresses the sense of Congress that: (1) in international deliberations, the U.S. Government should emphasize an approach that addresses governmental corruption; and (2) the United States should continue to actively and publicly support the objectives of the Financial Action Task Force on Money Laundering with regard to combating international money laundering.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 February 2001

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 February 2001

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 February 2001

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.