[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 1419 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                S. 1419

  To prevent the use of stored value cards and other electronic fund 
  access means as methods for currency smuggling or money laundering.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 26, 2011

Ms. Klobuchar (for herself, Mr. Udall of New Mexico, and Mrs. Shaheen) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To prevent the use of stored value cards and other electronic fund 
  access means as methods for currency smuggling or money laundering.

    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 ``Anti-Cash Smuggling Act of 2011''.

SEC. 2. ADDITION OF MEANS OF ACCESS TO FUNDS OR THE VALUE OF FUNDS.

    Chapter 53 of subtitle IV of title 31, United States Code, is 
amended--
            (1) by inserting after section 5316 the following new 
        section:
``Sec. 5316A. Reports on exporting and importing means of access to 
              funds
    ``(a) Required Reports.--The Secretary of the Treasury (in this 
section referred to as the `Secretary') shall, by regulation and 
subject to the limitations of this section, require reports concerning 
means of access to funds or the value of funds belonging or credited to 
a person that the person, agent, or bailee can use, including any 
prepaid or stored value cards to electronically--
            ``(1) initiate a transfer of funds;
            ``(2) obtain currency in place of funds or the value of 
        funds; or
            ``(3) purchase goods or services.
    ``(b) Limitations.--Under the regulations issued under subsection 
(a), a person, or an agent or bailee of that person, shall be required 
to, file a report under this section only when the person, agent, or 
bailee knowingly--
            ``(1) transports, is about to transport, or has transported 
        a means of access subject to subsection (a) from a place in the 
        United States to or through a place outside of the United 
        States or to a place in the United States from or through a 
        place outside of the United States; or
            ``(2) receives a means of access subject to subsection (a) 
        transported into the United States from or through a place 
        outside of the United States.
    ``(c) Filing Criteria.--A report under this section shall be filed 
at such time and place as the Secretary prescribes. The report shall 
contain, to the extent that the Secretary prescribes--
            ``(1) the legal capacity in which the person filing the 
        report is acting;
            ``(2) the origin, destination, and route of the means of 
        access;
            ``(3) when the means of access is not legally and 
        beneficially owned by the person transporting the means of 
        access, or if the person transporting the means of access 
        personally is not going to use it, the identity of the person 
        that gave the means of access to the person transporting it, 
        the identity of the person who is to receive it, or both;
            ``(4) the amount and kind of funds or the value of funds to 
        which the means of access provides access, and the person to 
        whom the funds or value of funds belong or are credited; and
            ``(5) such additional information as the Secretary deems 
        appropriate to carry out this section.
    ``(d) Exclusion for Common Carriers.--This section does not apply 
to a common carrier of passengers when a passenger is transporting a 
means of access subject to subsection (a), or to a common carrier of 
goods if the shipper does not declare the means of access subject to 
subsection (a).
    ``(e) Additional Authority.--The Secretary may prescribe 
regulations under this section requiring a person that holds funds or 
the value of funds belonging or credited to another person, and that 
provides such other person a means of access to such funds or value, to 
provide information at the time and place and in the manner prescribed 
by the Secretary in order to facilitate reporting under this section. 
Such information may include, placing conspicuous markings on any 
tangible mechanism that constitutes, or together with a personal 
identification number, code, or other input comprises, a means of 
access to funds or the value of funds in order to manifest reportable 
characteristics of the means of access.
    ``(f) Means of Access to Funds or the Value of Funds Defined.--The 
Secretary of the Treasury shall define the term `means of access to 
funds or the value of funds' for purposes of this section. Such 
definition shall--
            ``(1) include means that a person, agent, or bailee can use 
        to electronically--
                    ``(A) initiate transfers of funds;
                    ``(B) obtain currency in place of funds or the 
                value of funds; or
                    ``(C) purchase goods or services;
            ``(2) include prepaid or stored value cards; and
            ``(3) not include debit cards or credit cards, as such 
        terms are defined under section 603(r)(3) of the Fair Credit 
        Reporting Act (15 U.S.C. 1681a(r)(3)) and under section 103(k) 
        of the Truth in Lending Act (15 U.S.C. 1602(k)), 
        respectively.'';
            (2) in section 5316--
                    (A) by amending the section heading to read as 
                follows:
``Sec. 5316. Reports on exporting and importing monetary instruments 
              and access devices'';
                and
                    (B) by amending subsection (a) to read as follows:
    ``(a) In General.--Except as provided in subsection (c), a person 
or an agent or bailee of the person shall file a report under 
subsection (b) when the person, agent, or bailee knowingly--
            ``(1) transports, is about to transport, or has 
        transported, monetary instruments, funds accessible by means of 
        access defined by regulation under section 5316A, or a 
        combination of monetary instruments and funds accessible by 
        means of access defined by regulation under section 5316A, of 
        more than $10,000 at one time--
                    ``(A) from a place in the United States to or 
                through a place outside of the United States; or
                    ``(B) to a place in the United States from or 
                through a place outside of the United States; or
            ``(2) receives monetary instruments, funds accessible by 
        means of access defined by regulation under section 5316A, or a 
        combination of monetary instruments and funds accessible by 
        means of access defined by regulation under section 5316A, of 
        more than $10,000 at one time transported into the United 
        States from or through a place outside of the United States.'';
            (3) in section 5317--
                    (A) in the section heading, by inserting ``and 
                access devices'' after ``instruments'';
                    (B) by striking subsection (a) and inserting the 
                following:
    ``(a) Warrants.--
            ``(1) In general.--The Secretary of the Treasury (in this 
        section referred to as the `Secretary') may submit to a court 
        of competent jurisdiction an application for a search warrant, 
        which shall be accompanied by a statement of information in 
        support of the warrant, when the Secretary reasonably 
        believes--
                    ``(A) a monetary instrument or a tangible mechanism 
                that constitutes, or together with a personal 
                identification number, code, or other input comprises, 
                a means of access to funds or the value of funds is 
                being transported; and
                    ``(B) a report on the instrument or means of access 
                to funds or the value of funds under section 5316 or 
                5316A has not been filed or contains a material 
                omission or misstatement.
            ``(2) Grant of application.--On a showing of probable 
        cause, the court may issue a search warrant for a designated 
        person or a designated or described place or physical object.
            ``(3) Rule of construction.--This subsection does not 
        affect the authority of the Secretary under any other provision 
        of law.'';
                    (C) in subsection (b), by inserting ``or section 
                5316A'' after ``section 5316''; and
                    (D) in subsection (c)--
                            (i) in paragraph (1)(A)--
                                    (I) by inserting ``5316A,'' after 
                                ``5316,''; and
                                    (II) by inserting ``(including any 
                                tangible mechanism that constitutes, or 
                                together with a personal identification 
                                number, code, or other input comprises, 
                                a means of access to funds or the value 
                                of funds)'' after ``involved in the 
                                offense''; and
                            (ii) in paragraph (2), by inserting 
                        ``5316A,'' after ``5316,'';
            (4) in section 5324(c)--
                    (A) in the subsection heading, by striking 
                ``Monetary Instrument'';
                    (B) by inserting ``or 5316A'' after ``section 
                5316'' each place it appears; and
                    (C) in paragraph (3), by inserting ``or means of 
                access to funds or the value of funds'' before the 
                period at the end;
            (5) in section 5332--
                    (A) in the section heading, by striking ``Bulk cash 
                smuggling'' and inserting ``Smuggling of cash, monetary 
                instruments, and means of access to funds or the value 
                of funds'';
                    (B) in subsection (a)--
                            (i) in paragraph (1)--
                                    (I) by inserting ``or 5316A'' after 
                                ``under section 5316'';
                                    (II) by inserting ``, or any 
                                tangible mechanism that constitutes, or 
                                together with a personal identification 
                                number, code, or other input comprises, 
                                a means of access to funds or the value 
                                of funds,'' after ``monetary 
                                instruments'' the first place it 
                                appears; and
                                    (III) by striking ``such currency 
                                or monetary instruments'' and inserting 
                                ``such currency, other monetary 
                                instruments, or tangible mechanism''; 
                                and
                            (ii) in paragraph (2), by inserting ``, 
                        other monetary instruments, or tangible 
                        mechanisms'' after ``concealment of currency''; 
                        and
                    (C) in subsection (c)(3)--
                            (i) by striking ``currency or other 
                        monetary instrument'' the first place it 
                        appears and inserting ``currency, other 
                        monetary instrument, or tangible mechanism that 
                        constitutes, or together with a personal 
                        identification number, code, or other input 
                        comprises, a means of access to funds or the 
                        value of funds'';
                            (ii) by striking ``currency or other 
                        monetary instrument'' the second place it 
                        appears and inserting ``currency, other 
                        monetary instrument, or tangible mechanism''; 
                        and
                            (iii) by inserting ``(including the funds 
                        or value of funds accessible by such tangible 
                        mechanism at the time of the offense)'' after 
                        ``facilitate the offense''; and
            (6) in the table of sections--
                    (A) by striking the items relating to sections 5316 
                and 5317 and inserting the following:

``5316. Reports on exporting and importing monetary instruments and 
                            access devices.
``5316A. Reports on exporting and importing means of access to funds.
``5317. Search and forfeiture of monetary instruments and access 
                            devices.'';
                and
                    (B) by striking the item relating to section 5332 
                and inserting the following:

``5332. Smuggling of cash, monetary instruments, and means of access to 
                            funds or the value of funds into or out of 
                            the United States.''.
                                 <all>