[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2986 Introduced in House (IH)]

  2d Session
                                H. R. 2986

       To establish a criminal penalty for the production, sale, 
   transportation, or possession of fictitious financial instruments 
 purporting to be instruments issued by a public or private entity, to 
    require forfeiture of counterfeit access devices, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 28, 1996

  Mr. Leach (for himself, Mr. Bereuter, Mr. Schumer, Mr. Bachus, Mrs. 
    Maloney, Mr. Royce, Mrs. Kelly, Mr. Heineman, and Mr. Watts of 
  Oklahoma) introduced the following bill; which was referred to the 
    Committee on the Judiciary, and in addition to the Committee on 
  Transportation and Infrastructure, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
       To establish a criminal penalty for the production, sale, 
   transportation, or possession of fictitious financial instruments 
 purporting to be instruments issued by a public or private entity, to 
    require forfeiture of counterfeit access devices, and for other 
                               purposes.

    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 ``Financial Crimes Prevention Act of 
1996''.

SEC. 2. FICTITIOUS FINANCIAL INSTRUMENTS.

    (a) Increased Penalties for Counterfeiting Violations.--
            (1) Section 474.--Section 474 title 18, United States Code, 
        is amended by striking ``Is guilty of a class C felony'' and 
        inserting ``shall be fined under this title, imprisoned not 
        more than 25 years, or both''.
            (2) Section 474a.--Section 474A of title 18, United States 
        Code, is amended by striking ``is guilty of a class C felony'' 
        each place such term appears in such section and inserting 
        ``shall be fined under this title, imprisoned not more than 25 
        years, or both''.
    (b) Criminal Penalty for Production, Sale, Transportation, or 
Possession of Fictitious Financial Instruments Purporting To Be Those 
of the States, of Political Subdivisions, and of Private 
Organizations.--
            (1) In general.--Chapter 25 of title 18, United States 
        Code, is amended by inserting after section 513 the following 
        new section:
``Sec. 514. Fictitious obligations
    ``(a) In General.--Whoever, with the intent to defraud--
            ``(1) possesses any fictitious obligation within the United 
        States;
            ``(2) draws, prints, processes, produces, publishes, or 
        otherwise makes any fictitious obligation within the United 
        States;
            ``(3) passes, utters, presents, offers, brokers, issues, or 
        sells any fictitious obligation within the United States;
            ``(4) uses an instrumentality of interstate or foreign 
        commerce, including the use of the mails or wire, radio, or 
        other electronic communication, to transmit or transport any 
        fictitious obligation to, from, or through the United States; 
        or
            ``(5) attempts to commit an offense described in paragraph 
        (1), (2), (3), or (4),
shall be fined under this title, imprisoned not more than 25 years, or 
both.
    ``(b) Fictitious Obligation Defined.--The term `fictitious 
obligation' means any false or fictitious instrument, document, or 
other item which appears or is purported to be an actual security or 
other financial instrument issued under the authority of the United 
States, a foreign government, a State or other political subdivision of 
the United States, or an organization.
    ``(c) Incorporated Definitions.--For purposes of this section, any 
term used in this section which is defined in section 513(c) shall have 
the meaning given that term in such section.
    ``(d) Investigative Authority.--The United States Secret Service, 
in addition to any other agency having such authority, shall have 
authority to investigate offenses under this section.''.
            (2) Clerical amendment.--The table of sections for chapter 
        25 of title 18, United States Code, is amended by inserting 
        after the item relating to section 513 the following new item:

``514. Fictitious obligations.''.

SEC. 3. FORFEITURE OF COUNTERFEIT ACCESS DEVICES AND OTHER EQUIPMENT.

    Section 80302(a) of title 49, United States Code, is amended--
            (1) in paragraph (4), by striking ``or'' the last place it 
        appears;
            (2) in paragraph (5), by striking the period and inserting 
        ``; or''; and
            (3) by adding at the end the following new paragraph:
            ``(6) a counterfeit access device, device-making equipment, 
        or scanning receiver (as such terms are defined in section 1029 
        of title 18) that is possessed with the intent to defraud in 
        violation of Federal law.''.
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