Drug Money Seizure Act

Drug Money Seizure Act - Title I: Currency Reporting Amendments- Currency Reporting Amendments of 1985 - 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 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. Increases the civil penalty for violations of such Act to: (1) the full amount of the transaction where the violation involves a transaction reporting requirement; or (2) $10,000 for any other violation. Creates a civil penalty of up to the amount of the transaction or account involved for any violation of a reporting or recordkeeping requirement for a transaction with a foreign financial agency.

Title II: Money Laundering - Money Laundering Crimes Act - 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.