[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1847 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1847

 To amend title 18, United States Code, to provide the penalty of life 
              in prison for bankers laundering drug money.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 22, 1993

Mr. Washington introduced the following bill; which was referred to the 
                       Committee on the Judiciary

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                                 A BILL


 
 To amend title 18, United States Code, to provide the penalty of life 
              in prison for bankers laundering drug money.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Money Laundering Act of 1993''.

SEC. 2. TITLE 18 AMENDMENT.

    (a) In General.--Title 18, United States Code, is amended by 
inserting after section 1956 the following:
``Sec. 1956A. Laundering of drug money by depository institutions
    ``(a) Whoever, being an officer or employee of a depository 
institution, knowing that--
            ``(1) the property involved in a financial transaction 
        represents the proceeds of a criminal violation of the 
        Controlled Substances Act or the Controlled Substances Import 
        and Export Act; and
            ``(2) the transaction is designed in whole or in part to 
        conceal or disguise the nature, the location, the source, the 
        ownership, or the control of such proceeds;
conducts or attempts to conduct that transaction which in fact involves 
such proceeds, shall be fined under this title and imprisoned for life.
    ``(b) As used in this section, the term `depository institution' 
has the meaning given that term in section 3(c) of the Federal Deposit 
Insurance Act.''.
    (b) Clerical Amendment.--The table of sections at the beginning of 
chapter 95 of title 18, United States Code, is amended by inserting 
after the item relating to section 1956 the following new item:

``1956A. Laundering of drug money by depository institutions.''.

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