S. 1837 · 108th Congress
Combating Money Laundering and Terrorist Financing Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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GrassleySponsorNo cosponsors.
Combating Money Laundering and Terrorist Financing Act of 2003 - Amends the Racketeer Influenced and Corrupt Organizations Act (RICO) to expand its scope to cover acts or threats involving burglary, embezzlement, and fraud in the purchase of securities.
What it does: CRS summary · Introduced in Senate · Nov 6, 2003
Combating Money Laundering and Terrorist Financing Act of 2003 - Amends the Racketeer Influenced and Corrupt Organizations Act (RICO) to expand its scope to cover acts or threats involving burglary, embezzlement, and fraud in the purchase of securities.
Modifies provisions regarding: (1) the laundering of monetary instruments to include violations of the Social Security Act relating to obtaining funds through misuse of a social security number, to grant authority to the Secretary of Homeland Security and the Commissioner of Social Security over offenses within their jurisdictions, and to cover certain informal transfers of the proceeds of specified unlawful activity; and (2) engaging in monetary transactions in property derived from specified unlawful activity to grant authority to the Secretary over offenses within his jurisdiction.
Changes the name of a money transmitting business the operation of which is prohibited from an "unlicensed" to an "illegal" money transmitting business. Specifies that such a business shall be illegal if it fails to to comply with money transmitting business registration requirements (current law), whether or not the defendant knew that the operation was required to comply with such requirements. Authorizes the Attorney General, the Secretary of the Treasury, and the Secretary of Homeland Security to investigate violations regarding such businesses.
Amends the Federal criminal code to provide for civil forfeiture of the assets of individuals or entities engaging in planning or perpetrating any act of international terrorism against any international organization or foreign government.
Reauthorizes the Money Laundering and Financial Crimes Strategy Act of 1998.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Combating Money Laundering and Terrorist Financing Act of 2003
Latest action (Nov 6, 2003): Read twice and referred to the Committee on the Judiciary.
Policy area: Crime and Law Enforcement · Origin: Senate · Introduced: Nov 6, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.