A bill to amend title 31, United States Code, to improve enforcement provisions relating to records and reports on monetary instruments transactions, and for other purposes.
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.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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