3.0.0 473 2023-01-11T19:59:12Z 2023-01-11T19:59:12Z Senate S S 2007-02-01 110 ssju00 Judiciary Committee Senate Standing Referred to 2007-02-01T21:00:37Z 2007-02-01 ssju00 Judiciary Committee Senate Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S1524-1526) IntroReferral 2007-02-01 Sponsor introductory remarks on measure. (CR S1523-1524) IntroReferral B00100 9 Library of Congress 2007-02-01 Introduced in Senate IntroReferral 10000 9 Library of Congress G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. N Crime and Law Enforcement Armed Forces and National Security Auditing Bank records Cartels Checks Civil Rights and Liberties, Minority Issues Commerce Conspiracy Consumer credit Counterfeiting Criminal investigation Electronic funds transfers Extraterritoriality Finance and Financial Sector Foreign Trade and International Finance Foreign banks and banking Forgery Government securities Grand jury Indictments Law Money laundering Obstruction of justice Prosecution Right of privacy Science, Technology, Communications Secret service Securities Smuggling Subpoena Undercover operations Crime and Law Enforcement 00 2007-02-01 Introduced in Senate 2007-02-26T19:54:32Z Combating Money Laundering and Terrorist Financing Act of 2007 - Amends money laundering provisions of the federal criminal code to redefine "specified unlawful activity" as: (1) any act constituting an offense in violation of the laws of the United States or any State punishable by imprisonment for a term exceeding 1 year; and (2) any act occurring outside of the United States that would constitute such an offense if committed within U.S. jurisdiction.

Revises the procedure for issuing subpoenas in money laundering cases.

Assigns a standard value to monetary instruments payable to bearer in blank (with no amount indicated on the instrument).

Increases the penalty for bulk cash smuggling in or out of the United States from five to 10 years.

Redefines money laundering transactions involving amounts greater than $10,000 to include commingling of funds from separate accounts and structured transactions designed to avoid reporting requirements.

Permits a single indictment for multiple money laundering violations that are part of the same scheme or continuing course of conduct.

Prohibits illegal (currently, unlicensed) money transmitting businesses.

Extends the jurisdiction of the United States in money laundering cases to include activities outside of the United States that have an effect in the United States.

Prohibits the possession of any material that can be used to counterfeit U.S. currencies.

Establishes funding authority for the U.S. Secret Service in FY2008-FY2010, including the authority to use funds obtained from any undercover investigative operation to offset expenses incurred in such operation.

]]> Combating Money Laundering and Terrorist Financing Act of 2007 Official Title as Introduced A bill to improve the prohibitions on money laundering, and for other purposes. Introduced in Senate IS Display Title Combating Money Laundering and Terrorist Financing Act of 2007 Short Titles as Introduced Combating Money Laundering and Terrorist Financing Act of 2007 Introduced in Senate 2007-02-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s473is/xml/BILLS-110s473is.xml 2007-02-01 Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S1524-1526) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.