Money Laundering Act of 1985

Money Laundering Act of 1985 - Title I: Money Laundering Offense - Amends the Federal criminal code to establish money laundering as a Federal criminal offense. Sets forth fines and penalties to be imposed against anyone who conducts transactions involving monetary instruments through a financial institution engaged in or affecting interstate commerce: (1) with the intention of carrying out specified types of unlawful activity; or (2) with knowledge that such monetary instruments represent income derived from such unlawful activity. Requires investigation of such an offense by the Federal Bureau of Investigation, the Drug Enforcement Administration, and the Internal Revenue Service, as appropriate. Establishes extraterritorial jurisdiction over such prohibited conduct.

Title II: Currency and Foreign Transactions Reporting Act Amendments - Amends the Currency and Foreign Transactions Reporting Act to authorize the Secretary of the Treasury, in order to investigate the compliance of financial institutions with Federal recordkeeping and reporting requirements with respect to monetary instruments transactions, to: (1) examine the books, papers, and records of such institutions; and (2) summon and take testimony from an institution officer or employee or other person possessing relevant reports or records. Prohibits the Secretary from delegating such authority.

Title III: Wiretap Amendments - Amends the Federal criminal code to authorize wiretaps to investigate offenses involving prohibited monetary instrument transactions or failure to comply with recordkeeping and reporting requirements with respect to such transactions.

Title IV: Right to Financial Privacy Act Amendments - Amends the Right to Financial Privacy Act to allow a financial institution or an officer, employee, or agent thereof to disclose to a Government authority any information in a customer's records which it believes may be relevant to a possible violation of any statute or regulation. Provides that an institution, employee, officer, or agent that discloses information based on such a good-faith belief shall not be liable to the customer for such disclosure or for any failure to notify the customer of such disclosure.