A bill to improve the criminal enforcement of provisions of law relating to currency and foreign transactions.
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.
Became Public Law No: 98-473.
H.J.Res. 648 Passed the House with an Amendment Incorporating the Language of H.R.5963 (Identical to H.R.6031).
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on The Judiciary.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended).
Reported to House (Amended) by House Committee on The Judiciary. Report No: 98-984 (Part I).
Reported to House (Amended) by House Committee on The Judiciary. Report No: 98-984 (Part I).
Called up by House Under Suspension of Rules.
Passed/agreed to in House: Passed House (Amended) by Voice Vote.
Passed House (Amended) by Voice Vote.
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Received in the Senate and held at the desk by unanimous consent. Pending further diosposition.
See H.J.Res.648.