S. 2402 · 109th Congress
Combating Money Laundering and Terrorist Financing Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor4 cosponsors · 4 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Combating Money Laundering and Terrorist Financing Act of 2006 - 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…
What it does: CRS summary · Introduced in Senate · Mar 13, 2006
Combating Money Laundering and Terrorist Financing Act of 2006 - 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.
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 2006
Latest action (Mar 13, 2006): Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S2033-2034)
Policy area: Crime and Law Enforcement · Origin: Senate · Introduced: Mar 13, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.