,i #aac? ,,congress #a/ ,session ,h4 ,r4 #ccag ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,octob] #bc1 #bjac,ms4 ,wat]s 7= h]self1 ,mrs4 ,c>olyn ,b4 ,maloney ( ,new ,york1 ,mr4 ,al ,gre5 ( ,texas1 ,mr4 ,clay1 ,mr4 ,capuano1 ,mr4 ,meeks1 ,ms4 ,moore1 & ,mr4 ,lyn*7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices1 & 9 addition to ! ,committee on ! ,judici>y1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to /r5g!n ! ,f$]al /atutes design$ to det] money laund]+ & t]rorism f9anc+1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,hold+ ,individuals ,acc\ntable & ,det]r+ ,money ,laund]+ ,act4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4,sec4 #b4 ,f9d+s4,title ,i--,hold+ executives responsible = violations,sec4 #aja4 ,p5alties = violations ( ! ,bank ,secrecy ,act4,sec4 #ajb4 ,crim9al p5alties4,sec4 #ajc4 ,/r5g!n+ civil injunctive au?ority4,sec4 #ajd4 ,cl>ification ( removal & prohibition au?ority "u ! ,,fdia4,sec4 #aje4 ,indep5d5t litigation au?ority = ,fin,c,e,n4,sec4 #ajf4 ,treatm5t ( executive comp5sation & p]sonal liability4,sec4 #ajg4 ,corporate gov]nance & ! legal responsibilities4,title ,,ii--,/r5g!n+ ( regulatory ov]sight & accountability,sec4 #bja4 ,report+ & ov]sight ( ,bank ,secrecy ,act-relat$ en=cem5t actions4,sec4 #bjb4 ,consid]ation ( ,,bsa compliance 9 managem5t rat+s4,title ,,iii--,cl>ification ( safe h>bor protections,sec4 #cja4 ,safe h>bor protections4,title ,,iv--,/r5g!n+ requirem5ts & clos+ loopholes,sec4 #dja4 ,exp&+ ! crimes t c be a pr$icate (f5se to money laund]+4,sec4 #djb4 ,clos+ loopholes 9 ,bank ,secrecy ,act report+4,sec4 #djc4 ,def9ition ( an in/itution-affiliat$ p>ty4,title ,v--,:i/lebl[] protections,sec4 #eja4 ,mod]nization & upgrad+ :i/lebl[] protections4,title ,,vi--,s5se ( ! ,congress reg>d+ crim9al penalties,sec4 #fja4 ,s5se ( ! ,congress4,title ,,vii--,/r5g!n+ global commitments,sec4 #gja4 ,int]national coord9ation4,sec4 #gjb4 ,s5se ( ,congress reg>d+ li/ ( c\ntries at high risk = money laund]+4 #b4 ,f9d+s ,! ,congress f9ds ! foll[+3 7#a7 ,money laund]+ is a s]i\s ?reat to our national & economic security4 ,! scale1 effici5cy1 & complexity ( ! ,u4,s4 f9ancial sy/em make x a prime t>get = ^? :o seek to conceal & move ! proce$s ( illicit activity4 7#b7 ,! spate ( rec5t high-pr(ile en=cem5t actions aga9/ "s ( ! l>ge/ & mo/ sophi/icat$ f9ancial in/itutions raises tr\bl+ que/ions ab\t ! effectiv5ess ( ,u4,s4 dome/ic anti-money laund]+ & c\nt]-t]rorism f9anc+ regulatory1 compliance & en=cem5t ef=ts4 7#c7 ,money laund]]s h prov5 to adapt quickly 9 ord] to avoid detection4 ,u4,s4 anti-money laund]+ laws & regulations mu/ be rigor\sly review$ & con/antly updat$ to close loopholes & address ! *ang+ tactics employ$ by bad actors4 7#d7 ,giv5 ! global nature ( money laund]+ & t]rori/ f9anc+ & ! increas+ int]relat$ness ( ! global f9ancial sy/em1 a secure global framework is ess5tial to ! integrity ( ! ,u4,s4 f9ancial sy/em4 7#e7 ,ef=ts to /an* ! fl[ ( illegal money across ! _w to drug c>tels & t]rori/ organizations %\ld be a top ,u4,s4 priority4 ,to a*ieve ?is mission1 ext5sive collaboration among f9ancial regulators1 ! ,dep>tm5t ( ,treasury1 ! ,dep>tm5t ( ,/ate1 ! ,dep>tm5t ( ,ju/ice & /ate & f$]al law en=cem5t ag5cies is requir$4 7#f7 ,u4,s4 anti-money laund]+ laws %\ld meet int]national /&>ds set by ! ,f9ancial ,action ,task ,=ce4 7#g7 ,)\t s]i\s consequ5ces = in/itutions & individuals :o fail to protect f9ancial in/itutions f illicit f9ancial activity - includ+ significant f9es1 bann+ individuals f ! indu/ry1 & prison s5t5ces = ^? :o seek to actively evade anti-money laund]+ controls1 f9ancial in/itutions & individuals w cont9ue to avoid compliance ) ,u4,s4 anti-money laund]+ rules & regulations4 7#h7 ,effective anti-money laund]+ programs mu/ emphasize s\nd corporate gov]nance includ+ bus9ess l9e acc\ntability & cle> l9es ( legal responsibility = individuals1 includ+ bo>d memb]s & *ief executive (fic]s4 7#i7 ,avoid+ money laund]+ risks requires an effective anti-money laund]+ program & a /rong in/itutional compliance culture1 ) writt5 /&>ds1 kn[l$geable & adequate /aff1 /rong monitor+ processes1 effective anti-money laund]+ tra9+1 & comp5sation /ructures t rew>d compliance4 7#aj7 ,anti-money laund]+ defici5cies (t5 reflect weaknesses 9 ! managem5t ( a f9ancial firm1 :i* c 9 turn adv]sely affect ! firm's ov]all safety & s\ndness4 ,failure to acc\nt = managem5t defici5cies 9 ?is context may p]petuate a false p]ception ( ! /ability ( f9ancial firms4 7#aa7 ,anti-money laund]+ exam9ations 9 rec5t ye>s at times fail$ to recognize ! cumulative effect ( ! violations !y cit$1 in/ead n>r[ly focus+ _! att5tion on individual bank+ units4 ,! failure to review ! cumulative effect ( su* violations p]mitt$ national banks to avoid & delay correct+ problems1 :i* all[$ massive problems to occur be=e s]i\s en=cem5t actions 7 tak54 7#ab7 ,indep5d5t contractors (t5 play a c5tral role 9 monitor+ & audit+ ! ov]all adequacy & effectiv5ess ( a bank's compliance program "u ! ,bank ,secrecy ,act4 ,any failure to hold ^! indep5d5t entities to ! same /&>d z any o!r p>ty :o p>ticipates 9 ! affairs ( a bank may jeop>dize ! efficacy ( a bank's anti-money laund]+ program4 7#ac7 ,collaboration is an ess5tial compon5t ( ! ,u4,s4 /rategy aga9/ money laund]+1 & is critical to our national security4 ,u4,s4 law en=cem5t ag5cies are mo/ effective :5 !y "w toge!r by %>+ in=mation1 insight1 & data4 7#ad7 ,! fl[ ( in=mation relat$ to suspici\s activity f f9ancial in/itutions to law en=cem5t plays a key role 9 facilitat+ ! disruption ( t]rori/ networks t seek to h>m ! ,unit$ ,/ates4 ,! fl[ ( su* in=mation dep5ds on a high degree ( c]ta9ty t f9ancial in/itutions w be protect$ f civil liability :5 %>+ su* in=mation ) f$]al law en=cem5t ag5cies4 7#ae7 ,:i/lebl[] rights & protections play an important role 9 help+ to ensure corporate integrity4 ,robu/ protections = :i/lebl[]s & enhanc$ rew>ds = in=mants w inc5tivize compliance ) anti-money laund]+ rules & proc$ures1 & enc\rage ! provision ( valuable in=mation to regulators & law en=cem5t ag5cies4 ,i ,hold+ executives responsible = violations #aja4 ,p5alties = violations ( ! ,bank ,secrecy ,act 7a7 ,civil monet>y p5alties = willful violations ,section #ecba7;a7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by /rik+ 7a77#a7 ,a dome/ic f9ancial in/itution & ins]t+ ! foll[+3 7a7 ,9 g5]al 7#a7 ,civil monet>y p5alties = willful violations ,a dome/ic f9ancial in/itution 2 7#b7 9 p>agraph 7#a7-- 7,a7 by /rik+ willfully violat+ ea* place su* t]m appe>s & ins]t+ willfully violat+1 or willfully caus+ any violation (12 7,b7 by /rik+ ! am\nt 7n to exce$ #ajj1jjj7 involv$ 9 ! transaction 7if any7 or #be1jjj & ins]t+ #aj times ! am\nt 7n to exce$ #aj1jjj1jjj7 involv$ 9 ! transaction 7if any7 or #bej1jjj2 & 7,c7 by add+ at ! end ! foll[+3 ,9 det]m9+ appropriate monet>y p5alty am\nts "u ?is p>agraph1 ! ,secret>y has ! au?ority to ensure t p5alty am\nts are comm5surate ) ! nature ( ! violations1 any patt]ns ( violations1 &1 ) respect to a f9ancial in/itution or nonf9ancial trade or bus9ess1 ! size1 capitalization & m>ket %>e ( su* in/itution or trade or bus9ess42 & 7#c7 9 p>agraph 7#d77;,a71 by ins]t+ aft] :o violates ! foll[+3 1 or causes any violation (14 7b7 ,civil monet>y p5alties = neglig5t violations ,section #ecba7;a77#f7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ to read z foll[s3 7#f7 ,neglig5ce 7,a7 ,9 g5]al ,! ,secret>y ( ! ,treasury may impose a civil money p5alty1 = neglig5t violations ( any provision ( ?is sub*apt] or any regulation prescrib$ "u ?is sub*apt]1 ( n m ?an-- 7i7 #ej1jjj1 ) respect to a f9ancial in/itution or nonf9ancial trade or bus9ess2 & 7ii7 #e1jjj1 ) respect to any p>tn]1 director1 (fic]1 or employee ( an in/itution1 trade1 or bus9ess4 7,b7 ,violations ( ! requirem5t to ma9ta9 proc$ures to ensure compliance ,= a violation ( a regulation prescrib$ "u section #ecah7;a77#b71 a sep>ate violation occurs = ea* day ! violation cont9ues & at ea* (fice1 bran*1 or place ( bus9ess at :i* a violation occurs or cont9ues4 7,c7 ,det]m9ation ( p5alty am\nt ,9 det]m9+ appropriate monet>y p5alty am\nts "u ?is p>agraph1 ! ,secret>y has ! au?ority to ensure t p5alty am\nts are comm5surate ) ! nature ( ! violations1 any patt]ns ( violations1 &1 ) respect to a f9ancial in/itution or nonf9ancial trade or bus9ess1 ! size1 capitalization & m>ket %>e ( su* in/itution or trade or bus9ess4 4 #ajb4 ,crim9al p5alties 7a7 ,9 g5]al ,section #ecbb ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by r$esignat+ subsections 7c7 & 7d7 z subsections 7d7 & 7e71 respectively2 7#b7 by ins]t+ aft] subsection 7b7 ! foll[+3 7c7 ,facilitat+ evasion ,9 ! case ( a p]son describ$ "u subsection 7a7 or 7b7 :o additionally takes /eps to facilitate evasion ( a program or controls "u a regulation prescrib$ or ord] issu$ "u ?is sub*apt] 7except section #ecae or #ecbd ( ?is title or a regulation prescrib$ "u section #ecae or #ecbd71 section #ba ( ! ,f$]al ,deposit ,insurance ,act1 or section #abc ( ,public ,law #ia-ejh1 ! maximum prison t]ms "u su* subsections %all be treat$ z #bj ye>s4 2 & 7#c7 by add+ at ! end ! foll[+3 7f7 ,report ,9 any case 9 :i* ! ,dep>tm5t ( ,ju/ice settles a case ) an individual or in/itution = violations "u ! ?is sub*apt] 9 ex*ange = a monet>y p5alty1 ! ,dep>tm5t %all report to ! ,congress on :y x did or did n pursue prison s5t5ces 9 conjunction ) ! monet>y p5alty4 4 7b7 ,,gao review ( ,bank ,secrecy ,act crim9al s5t5ces & m&atory m9imum s5t5c+ 7#a7 ,/udy ,! ,comptroll] ,g5]al ( ! ,unit$ ,/ates %all c>ry out a /udy ( ! m&atory m9imum s5t5c+ laws & guidel9es = n>cotics-relat$ (f5ses & ! prosecutorial discretion provid$ to ! ,dep>tm5t ( ,ju/ice 9 det]m9+ crim9al p5alties = p]sons f\nd guilty ( violat+ ,f$]al anti-money laund]+ laws4 ,9 c>ry+ out su* /udy1 ! ,comptroll] ,g5]al %all comp>e & contra/ ! sev]ity ( ! two sets ( felonies4 7#b7 ,report ,n lat] ?an ! end ( ! #f-mon? p]iod foll[+ ! date ( ! enactm5t ( ?is ,act1 ! ,comptroll] ,g5]al %all issue a report to ! ,congress conta9+ all f9d+s & det]m9ations made 9 c>ry+ out ! /udy requir$ by subsection 7a71 includ+ any disp>ities id5tifi$ 9 ! appropriat5ess ( ! diff]+ s5t5c+ proc$ures & recomm5dations = e/abli%+ a m balanc$ s5t5c+ sy/em = ,f$]al feloni\s acts4 #ajc4 ,/r5g!n+ civil injunctive au?ority ,section #ecbj ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by /rik+ ,:5 ! ,secret>y & ins]t+ ! foll[+3 7a7 ,9 g5]al ,:5 ! ,secret>y 2 & 7#b7 by ins]t+ aft] w violate ! foll[+3 or has caus$1 is caus+1 or w cause a violation (2 & 7#c7 by ins]t+ at ! end ! foll[+3 7b7 ,prohibition on c]ta9 individuals ,9 any proce$+ "u subsection 7a71 ! c\rt may prohibit1 conditionally or unconditionally1 & p]man5tly or = su* p]iod ( "t z x %all det]m9e1 any individual :o violat$ ?is sub*apt]1 or a regulation prescrib$ or ord] issu$ "u ?is sub*apt]1 f act+ z an (fic] or director ( a f9ancial in/itution if ! p]son's conduct demon/rates unfitness to s]ve z an (fic] or director ( a f9ancial in/itution4 4 #ajd4 ,cl>ification ( removal & prohibition au?ority "u ! ,,fdia ,section #h7;e77#b77;,a7 ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahah7;e77#b77;,a77 is am5d$-- 7#a7 9 clause 7i71 by /rik+ 0 n inadv]t5t or un9t5tional & ins]t+ involv$ a reckless disreg>d = ! law or any applicable regulations or prior ord] ( ! appropriate ,f$]al bank+ ag5cy2 & 7#b7 9 clause 7ii71 by /rik+ has k & ins]t+ knew1 or %\ld h kn[n14 #aje4 ,indep5d5t litigation au?ority = ,fin,c,e,n ,section #caj ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by r$esignat+ subsection 7d7 z subsection 7e72 & 7#b7 by ins]t+ aft] subsection 7c7 ! foll[+3 7d7 ,indep5d5t litigation au?ority ,fin,c,e,n may act 9 its own "n & ?r\gh its own attorneys 9 en=c+ any provision ( sub*apt] ,,ii ( *apt] #ec1 section #ba ( ! ,f$]al ,deposit ,insurance ,act1 section #abc ( ,public ,law #ia-ejh1 any rules !reund]1 or any o!r law or regulation1 or 9 any action1 suit1 or proce$+ relat+ to su* laws or regulations to :i* ! ,f9ancial ,crimes ,en=cem5t ,network is a p>ty4 4 #ajf4 ,treatm5t ( executive comp5sation & p]sonal liability 7a7 ,c]ta9 executive comp5sation inc5tives b>r$ ,! appropriate ,f$]al bank+ ag5cies1 ! ,securities & ,ex*ange ,commission1 ! ,commodities ,futures ,trad+ ,commission1 & ! ,f9ancial ,crimes ,en=cem5t ,network %all issue regulations prohibit+ f9ancial in/itutions t are subject to an anti-money laund]+ program requirem5t "u *apt] ,x ( title #ca1 ,code ( ,f$]al ,regulations1 f provid+ executive comp5sation bas$ on any crit]ia t c\ld und]m9e compliance by individuals ) ! requirem5ts ( sub*apt] ,,ii ( *apt] #ec ( title #ca1 ,unit$ ,/ates ,code1 section #ba ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbi;b71 or section #abc ( ,public ,law #ia-ejh4 7b7 ,no avoidance ( p]sonal liability 7#a7 ,9 g5]al ,an (fic]1 director1 employee1 or o!r in/itution-affiliat$ p>ty ( a f9ancial in/itution t is subject to an anti-money laund]+ program requirem5t "u *apt] ,x ( title #ca1 ,code ( ,f$]al ,regulations1 :o is requir$ by a ,f$]al bank secrecy law t provides = p]sonal liability1 or any rule or ord] promulgat$ by an appropriate ,f$]al bank+ ag5cy1 ! ,securities & ,ex*ange ,commission1 ! ,commodity ,futures ,trad+ ,commission1 or ! ,f9ancial ,crimes ,en=cem5t ,network !reund]1 to repay previ\sly e>n$ executive comp5sation or pay a civil money p5alty-- 7,a7 %all be p]sonally liable = ! am\nts s ow$2 & 7,b7 may n1 directly or indirectly1 insure or h$ge aga9/1 or o!rwise transf] ! risks associat$ )1 p]sonal liability = ! am\nts s ow$4 7#b7 ,rule ( con/ruction ,p>agraph 7#a7 %all n preclude a p]son f be+ provid$ funds necess>y to def5d aga9/ an action to recov] previ\sly e>n$ executive comp5sation or a civil money p5alty describ$ "u p>agraph 7#a7-- 7,a7 f ! relevant f9ancial in/itution subject to an anti-money laund]+ program "u *apt] ,x ( title #ca1 ,code ( ,f$]al ,regulations2 7,b7 "u an insurance policy2 or 7,c7 pursuant to c\rt ord]4 7c7 ,def9itions ,= purposes ( ?is section3 7#a7 ,appropriate ,f$]al bank+ ag5cy ,! t]m appropriate ,f$]al bank+ ag5cy has ! mean+ giv5 su* t]m "u section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#b7 ,executive comp5sation ,! t]m executive comp5sation means any?+ ( value1 reg>dless ( ! =m 9 :i* provid$1 t is giv5 by any in/itution subject to subsection 7a7 or its p>5t company to an (fic]1 director1 employee1 or o!r in/itution-affiliat$ p>ty 9 return = t individual's s]vice to su* entity4 7#c7 ,f$]al bank secrecy law ,! t]m ,f$]al bank secrecy law means-- 7,a7 ! report+ requirem5ts set =? 9 section #ba ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbi;b72 7,b7 section #abc ( ,public ,law #ia-ejh2 & 7,c7 sub*apt] ,,ii ( *apt] #ec ( title #ca1 ,unit$ ,/ates ,code4 7#d7 ,in/itution-affiliat$ p>ty ,! t]m in/itution-affiliat$ p>ty-- 7,a7 has ! mean+ giv5 su* t]m "u subsection 7u7 ( section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac72 & 7,b7 %all apply ) respect to an in/itution subject to subsection 7a7 & its p>5t company to ! same ext5t z su* subsection applies to an insur$ depository in/itution4 #ajg4 ,corporate gov]nance & ! legal responsibilities 7a7 ,9 g5]al ,*apt] #ec ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by ins]t+ aft] section #ecbb1 ! foll[+3 #ecbb;,a4 ,corporate gov]nance & ! legal responsibility ( (fic]s & employees 7a7 ,ensur+ compliance ,! ,secret>y ( ! ,treasury1 9 consultation ) ! appropriate ,f$]al bank+ ag5cies1 ! ,securities & ,ex*ange ,commission1 & ! ,commodities ,futures ,trad+ ,commission1 %all issue regulations requir+ ea* f9ancial in/itution t is subject to an anti-money laund]+ program requirem5t "u *apt] ,x ( title #ca1 ,code ( ,f$]al ,regulations1 to ensure compliance ) ! anti-money laund]+ program requirem5ts describ$ "u section #ecah7;h7 by e/abli%+ writt5 policies1 proc$ures1 & risk managem5t /&>ds = ensur+ compliance ) ! requirem5ts ( ?is subtitle t-- 7#a7 require ! head ( compliance = ea* bus9ess l9e ( su* in/itution to make regul> reports directly to ! bo>d ( directors & ! *ief executive (fic] ( su* in/itution on ! bus9ess l9e's compliance activities2 7#b7 require ! bo>d to c]tify ea* report receiv$ pursuant to p>agraph 7#a72 7#c7 ensure adequate /aff+ & fund+ = entities )9 ! in/itution responsible = compliance ) ! requirem5ts ( ?is subtitle2 & 7#d7 p]iodically te/ ! effectiv5ess ( ! in/itution's programs = compliance ) ! requirem5ts ( ?is subtitle4 7b7 ,legal responsibility ( c]ta9 (fic]s & employees ,) respect to any violation ( ?is subtitle by a ea* f9ancial in/itution t is subject to an anti-money laund]+ program requirem5t "u *apt] ,x ( title #ca1 ,code ( ,f$]al ,regulations1 any (fic] or o!r employee :o 0 9 a position t w\ld h enabl$ su* (fic] or employee to mat]ially affect compliance ) ! requirem5ts ( ?is subtitle %all also be 9 violation ( ?is subtitle1 if su* (fic] or o!r employee knew1 or %\ld h kn[n1 t su* violation 0 be+ committ$ & did n take mean+ful /eps to /op su* violation4 7c7 ,clawback employm5t provision ,ea* f9ancial in/itution t is subject to an anti-money laund]+ program requirem5t "u *apt] ,x ( title #ca1 ,code ( ,f$]al ,regulations1 %all1 9 ea* employm5t agreem5t ent]$ into by su* in/itution1 include a provision t gives ! in/itution ! "r to require ! repaym5t ( any bonus or o!r comp5sation paid to ! employee 9 any case :]e su* employee 0 violat+ a provision ( ?is sub*apt] & knew1 or %\ld h kn[n1 ( su* violation4 7d7 ,def9ition ,= purposes ( ?is section1 ! t]m appropriate ,f$]al bank+ ag5cy has ! mean+ giv5 su* t]m "u section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4#ahac74 2 & 7#b7 9 ! table ( cont5ts = su* *apt]1 by ins]t+ aft] ! item relat+ to section #ecbb ! foll[+ new item3 #ecbb;,a4 ,corporate gov]nance & ! legal responsibility ( (fic]s & employees 4 7b7 ,effective date ,! am5dm5ts made by subsection 7a7 %all apply to a f9ancial in/itution 7z su* t]m is def9$ "u section #ecab ( title #ca1 ,unit$ ,/ates ,code7 aft] ! end ( ! #f-mon? p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act4 ,,ii ,/r5g!n+ ( regulatory ov]sight & acc\ntability #bja4 ,report+ & ov]sight ( ,bank ,secrecy ,act-relat$ en=cem5t actions 7a7 ,9 g5]al ,*apt] #ec ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by ins]t+ aft] section #ecbf ! foll[+3 #ecbg4 ,ov]sight ( exam9ation & en=cem5t activities 7a7 ,report+ ( en=cem5t activities to ,fin,c,e,n ,ea* appropriate ,f$]al bank+ ag5cy1 ! ,securities & ,ex*ange ,commission1 & ! ,commodity ,futures ,trad+ ,commission %all report to ,fin,c,e,n on ea* =mal & in=mal en=cem5t or sup]visory action1 includ+ ea* matt] requir+ att5tion1 & ea* matt] requir+ imm$iate att5tion1 relat$ to a violation ( ?is sub*apt] or anti-money laund]+ defici5cy1 tak5 by su* ag5cy to en=ce ! requirem5ts ( ?is sub*apt]1 includ+1 = ea* su* action-- 7#a7 ! type ( violation or defici5cy ) respect to :i* ! en=cem5t or sup]visory action 0 tak52 & 7#b7 ! specific type ( =mal or in=mal en=cem5t or sup]visory action tak54 7b7 ,review ( reports by ,fin,c,e,n 7#a7 ,9 g5]al ,fin,c,e,n %all review all reports submitt$ by ag5cies "u subsection 7a7 to id5tify sy/emic or repeat$ in/ances ( non-compliance &1 if ,fin,c,e,n det]m9es t an ag5cy has fail$ to adequately or appropriately c>ry out ! ag5cy's en=cem5t responsibilities ) respect to ! requirem5ts ( ?is sub*apt]1 ,fin,c,e,n %all issue a report to su* ag5cy conta9+ an explanation ( ,fin,c,e,n's det]m9ation4 7#b7 ,report to ! ,congress ,fin,c,e,n %all issue an annual report to ! ,congress conta9+-- 7,a7 a summ>y ( all =mal & in=mal en=cem5t or sup]visory actions = :i* ,fin,c,e,n receiv$ notification f ! ag5cies "u subsection 7a71 b )\t any privileg$ or confid5tial in=mation conta9$ 9 su* report1 z id5tifi$ by ! ag5cy submitt+ ! report2 & 7,b7 any recomm5dations made by ,fin,c,e,n to su* ag5cies 9 response to a det]m9ation by ,fin,c,e,n t ! ag5cy fail$ to adequately or appropriately c>ry out ! ag5cy's en=cem5t or sup]visory responsibility or fail$ to take adequate or appropriate corrective action 9 response to any individual violation or patt]n ( violations4 7c7 ,inspector ,g5]al review ( proc$ures ,! ,inspector ,g5]al ( ea* appropriate ,f$]al bank+ ag5cy %all-- 7#a7 c>ry out at lea/ "o review ea* ye> ( ! ag5cy's exam9ation & en=cem5t activities ) respect to ensur+ compliance ) ! requirem5ts ( ?is sub*apt] & ensur+ adequate res\rces are be+ devot$ to su* en=cem5t2 & 7#b7 make su* reviews available to ! public1 includ+ on ! website ( ! ,inspector ,g5]al4 7d7 ,def9itions ,= purposes ( ?is section3 7#a7 ,fin,c,e,n ,! t]m ,fin,c,e,n means ! ,f9ancial ,crimes ,en=cem5t ,network4 7#b7 ,o!r t]ms ,! t]ms appropriate ,f$]al bank+ ag5cy & insur$ depository in/itution h ! mean+ giv5 ^? t]ms1 respectively1 "u section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4#ahac74 2 & 7#b7 9 ! table ( cont5ts = su* *apt]1 by ins]t+ aft] ! item relat+ to section #ecbf ! foll[+ new item3 #ecbg4 ,ov]sight ( exam9ation & en=cem5t activities4 4 7b7 ,confid5tiality ( in=mation submitt$ to ,fin,c,e,n ,section #caj ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by r$esignat+ subsection 7d7 z subsection 7e72 & 7#b7 by ins]t+ aft] subsection 7c7 ! foll[+3 7d7 ,confid5tiality ( in=mation submitt$ to ,fin,c,e,n ,! submission by any appropriate ,f$]al bank+ ag5cy 7z su* t]m is def9$ "u section #c ( ! ,f$]al ,deposit ,insurance ,act7 ( any in=mation to ,fin,c,e,n = any purpose 9 ! c\rse ( any sup]visory or regulatory process ( su* ag5cy %all n be con/ru$ z waiv+1 de/roy+1 or o!rwise affect+ any privilege1 includ+ confid5tiality ( sup]visory in=mation1 t any ag5cy or p]son may claim ) respect to su* in=mation "u ,f$]al or ,/ate law4 4 #bjb4 ,consid]ation ( ,,bsa compliance 9 managem5t rat+s 7a7 ,9 g5]al ,to ! ext5t !re are rat+s ( a depository in/itution's managem5t & int]nal controls1 ! appropriate ,f$]al bank+ ag5cies %all consid] ! ext5t to :i* ! in/itution complies ) ! requirem5ts ( ! ,bank ,secrecy ,act4 7b7 ,def9itions 7#a7 ,bank ,secrecy ,act ,! t]m ,bank ,secrecy ,act has ! mean+ giv5 ! t]m ,f$]al bank secrecy law "u section #ajf7;c77#e74 7#b7 ,o!r def9itions ,! t]ms appropriate ,f$]al bank+ ag5cy & depository in/itution h ! mean+ giv5 ^? t]ms1 respectively1 "u section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 ,,iii ,cl>ification ( safe h>bor protections #cja4 ,safe h>bor protections 7a7 ,disclosure to ,gov]nm5t ag5cies ,section #ecah7;g77#c77;,b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 9 clause 7i71 by /rik+ or at ! end2 7#b7 9 clause 7ii71 by /rik+ ! p]iod & ins]t+ 2 or2 & 7#c7 by add+ at ! end ! foll[+3 7iii7 any duty or requirem5t ( a f9ancial in/itution or any director1 (fic]1 employee1 or ag5t ( su* in/itution to demon/rate t a disclosure describ$ 9 subp>agraph 7,a7 is made 9 good fai?4 4 7b7 ,disclosure to f9ancial in/itutions ,section #cad ( ! ,,usa ,,patriot ,act 7#ca ,u4,s4,c4 #ecaa note7 is am5d$-- 7#a7 9 subsection 7b7-- 7,a7 by /rik+ t]rori/ or money laund]+ activities & ins]t+ t]rori/ or money laund]+ activities or a specifi$ unlawful activity 7z def9$ 9 section #aief7;c77#g7 ( title #ah1 ,unit$ ,/ates ,code72 & 7,b7 by /rik+ t]rori/ acts or money laund]+ activities & ins]t+ su* acts or activities2 & 7#b7 9 subsection 7c71 by /rik+ t]rori/ acts or money laund]+ activities & ins]t+ t]rori/ or money laund]+ activities or a specifi$ unlawful activity 7z def9$ 9 section #aief7;c77#g7 ( title #ah1 ,unit$ ,/ates ,code74 ,,iv ,/r5g!n+ requirem5ts & clos+ loopholes #dja4 ,exp&+ ! crimes t c be a pr$icate (f5se to money laund]+ ,section #aief7;c77#g7 ( title #ah1 ,unit$ ,/ates ,code1 is am5d$ to read z foll[s3 7#g7 ! t]m specifi$ unlawful activity means any act or activity con/itut+ an (f5se 9 violation ( ! laws ( ! ,unit$ ,/ates puni%able by imprisonm5t = a t]m exce$+ #a ye>2 4 #djb4 ,clos+ loopholes 9 ,bank ,secrecy ,act report+ 7a7 ,report to ,congress on ! /atus ( ! tempor>y exemptions ,fin,c,e,n %all issue a report to ,congress on ! /atus ( ! tempor>y exemptions "u section #ajaj4bje7;b7 ( title #ca1 ,code ( ,f$]al ,regulations1 includ+ any reviews1 /udies1 or propos$ or notice ( a rulemak+ t ,fin,c,e,n has und]tak5 ) reg>d to ea* f9ancial in/itution t is exempt$ f ! requirem5t conc]n+ ! e/abli%m5t ( anti-money laund]+ programs4 ,! report %all also include a ju/ification = ! exemption ( ea* category ( f9ancial in/itution exempt$ "u ! regulation4 7b7 ,report+ by c]ta9 transport]s ,n lat] ?an ! end ( ! #bgj-;day p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ! ,treasury %all issue f9al regulations to e/abli% ! mann] 9 :i* op]ators ( armor$ c>s & o!r comm]cial monet>y in/rum5t transport ent]prises are to comply ) ! report+ requirem5ts "u section #ecaf ( title #ca1 ,unit$ ,/ates ,code4 #djc4 ,def9ition ( an in/itution-affiliat$ p>ty 7a7 ,def9ition ,section #c ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7u77 is am5d$-- 7#a7 9 subsection 7u77#d71 by /rik+ kn[+ly & all t foll[s ?r\gh ! end ( ! p>agraph & ins]t+ p>ticipates 9 ! conduct (1 ! affairs (1 or conducts ! bus9ess ( an insur$ depository in/itution42 & 7#b7 by add+ at ! end ! foll[+3 7aa7 ,unsafe or uns\nd practice ,! t]m unsafe or uns\nd practice means1 any action1 or lack ( action1 :i* is contr>y to g5]ally accept$ /&>ds ( prud5t op]ation1 ! possible consequ5ces ( :i*1 if cont9u$1 w\ld be abnormal risk or loss or damage to an in/itution1 its %>ehold]s1 or ! ,deposit ,insurance ,fund4 4 7b7 ,rule ( con/ruction relat$ to indep5d5t contractors ,section #h ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahah7 is am5d$ by add+ at ! end ! foll[+3 7x7 ,rule ( con/ruction relat$ to indep5d5t contractors ,= purposes ( ?is ,act1 an indep5d5t contractor p>ticipates 9 ! conduct ( ! affairs (1 or conducts ! bus9ess (1 an insur$ depository in/itution by p]=m+ s]vices = ! in/itution4 4 ,v ,:i/lebl[] protections #eja4 ,mod]nization & upgrad+ :i/lebl[] protections 7a7 ,9 g5]al ,section #ecbh ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by /rik+ subsections 7a7 & 7b7 & ins]t+ ! foll[+3 7a7 ,prohibition aga9/ discrim9ation ,no f9ancial in/itution or nonf9ancial trade or bus9ess may dis*>ge or o!rwise discrim9ate aga9/ any applicant = employm5t1 employee1 or =m] employee ) respect to comp5sation1 t]ms1 conditions1 or privileges ( employm5t because ! applicant1 employee1 or =m] employee 7or any p]son act+ pursuant to ! reque/ ( ! employee7-- 7#a7 provid$1 0 ab\t to provide1 assi/$ 9 provid+1 or 0 p]ceiv$ z provid+ in=mation to ! ,secret>y ( ! ,treasury1 ! ,attorney ,g5]al1 any ,f$]al sup]visory ag5cy1 or ! ,congress reg>d+ a possible violation ( any provision ( ?is sub*apt] or section #aief1 #aieg1 or #aifj ( title #ah1 or any regulation "u any su* provision1 by ! f9ancial in/itution or nonf9ancial trade or bus9ess or any director1 (fic]1 or employee ( ! f9ancial in/itution or nonf9ancial trade or bus9ess2 or 7#b7 object$ to1 or refus$ to p>ticipate 91 any activity1 policy1 practice1 or assign$ task t ! applicant1 employee1 =m] employee 7or o!r su* p]son7 reasonably believ$ to be 9 violation ( any provision ( ?is sub*apt] or any o!r ,act en=c$ by ! ,secret>y ( ! ,treasury1 ! ,attorney ,g5]al1 a ,f$]al sup]visory ag5cy1 or any ord]1 rule1 regulation1 /&>d1 or ban "u ?is sub*apt] ( any ( su* ,acts4 7b7 ,en=cem5t ,)9 ! #b-ye> p]iod beg9n+ on ! date an applicant1 employee1 or =m] employee :o believes t su* applicant1 employee1 or =m] employee has be5 dis*>g$ or discrim9at$ aga9/ 9 violation ( subsection 7a71 su* applicant1 employee1 or =m] employee may-- 7#a7 file a civil action 9 ! appropriate ,unit$ ,/ates di/rict c\rt1 9 accordance ) ! burd5s ( pro( & rem$ies set =? 9 section #ajeg ( ! ,consum] ,f9ancial ,protection ,act ( #bjaj 7#ab ,u4,s4,c4 #eefg72 or 7#b7 file a compla9t ) ! ,secret>y ( ,labor ) reg>ds to a violation ( subsection 7a7 to seek relief 9 accordance ) ! proc$ures1 burd5s ( pro(1 & rem$ies set =? 9 section #ajeg ( ! ,consum] ,f9ancial ,protection ,act ( #bjaj 7#ab ,u4,s4,c4 #eefg7 = a violation ( subsection 7a7 ( su* section1 except t = purposes ( su* a compla9t1 ! "t p]iod specifi$ "u subsection 7c77#a77;,a7 ( su* section %all be deem$ to be a #b-ye> p]iod4 2 7#b7 9 subsection 7c71 by ins]t+ aft] di/rict c\rt ! foll[+3 or ! ,secret>y1 z applicable12 & 7#c7 by am5d+ subsection 7e7 to read z foll[s3 7e7 ,education ,! ,secret>y ( ! ,treasury %all issue regulations requir+ ea* f9ancial in/itution & nonf9ancial trade or bus9ess to provide education & tra9+ to its employees on ! rights & rem$ies provid$ "u ?is section1 includ+ ?r\gh individual notice to its employees1 po/+ in=mation on its website home page1 & provid+ m&atory tra9+ = its employees4 ,su* education & tra9+ may be incorporat$ into exi/+ education or tra9+ on ! requirem5ts ( ?is subtitle provid$ by su* in/itution or trade or bus9ess4 7f7 ,indep5d5t l9es ( communication ,! ,secret>y ( ! ,treasury %all issue regulations requir+ ea* f9ancial in/itution & nonf9ancial trade or bus9ess-- 7#a7 to h a proc$ure 9 place = an employee or =m] employee to report directly to ! *ief executive (fic]1 a repres5tative appo9t$ by & report+ directly to ! *ief executive (fic] :o is specifically designat$ to receive su* a report1 or ?r\gh a hotl9e consi/5t ) pr(essional be/ practices to ! audit committee ( ! bo>d ( directors1 if su* employee or =m] employee believes t violations ( ?is sub*apt] h occurr$ or are occurr+ at su* in/itution1 trade1 or bus9ess2 & 7#b7 to n discrim9ate aga9/ an employee or =m] employee = su* reports4 4 7b7 ,rew>ds ,section #ecbc7;d7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ to read z foll[s3 7d7 ,s\rce ( rew>ds ,= ! purposes ( pay+ an aw>d "u ?is section1 !re are au?oriz$ to be appropriat$ su* sums z may be necess>y1 & ! ,secret>y may also use funds f ! ,dep>tm5t ( ! ,treasury ,=feiture ,fund & ! ,dep>tm5t ( ,ju/ice ,assets ,=feiture ,fund4 4 7c7 ,:i/lebl[] inc5tives ,*apt] #ec ( title #ca1 ,unit$ ,/ates ,code1 is am5d$-- 7#a7 by ins]t+ aft] section #ecbc ! foll[+3 #ecbc;,a4 ,:i/lebl[] inc5tives 7a7 ,def9itions ,= purposes ( ?is section3 7#a7 ,bank ,secrecy ,act ,! t]m ,bank ,secrecy ,act means ?is sub*apt]1 section #ba ( ! ,f$]al ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbi;b71 & section #abc ( ,public ,law #ia-ejh4 7#b7 ,cov]$ judicial or adm9i/rative action ,! t]m cov]$ judicial or adm9i/rative action means any judicial or adm9i/rative action br\ght by ,fin,c,e,n "u ! ,bank ,secrecy ,act t results 9 monet>y sanctions exce$+ #a1jjj1jjj4 7#c7 ,fin,c,e,n ,! t]m ,fin,c,e,n means ! ,f9ancial ,crimes ,en=cem5t ,network4 7#d7 ,monet>y sanctions ,! t]m monet>y sanctions1 :5 us$ ) respect to any judicial or adm9i/rative action1 means-- 7,a7 any monies1 includ+ p5alties1 disgorgem5t1 & int]e/1 ord]$ to be paid2 & 7,b7 any monies deposit$ into a disgorgem5t fund z a result ( su* action or any settlem5t ( su* action4 7#e7 ,orig9al in=mation ,! t]m orig9al in=mation means in=mation t-- 7,a7 is d]iv$ f ! indep5d5t k or analysis ( a :i/lebl[]2 7,b7 is n kn[n to ,fin,c,e,n f any o!r s\rce1 unless ! :i/lebl[] is ! orig9al s\rce ( ! in=mation2 & 7,c7 is n exclusively d]iv$ f an allegation made 9 a judicial or adm9i/rative he>+1 9 a gov]nm5tal report1 he>+1 audit1 or inve/igation1 or f ! news m$ia1 unless ! :i/lebl[] is a s\rce ( ! in=mation4 7#f7 ,relat$ action ,! t]m relat$ action1 :5 us$ ) respect to any judicial or adm9i/rative action br\ght by ,fin,c,e,n1 means any judicial or adm9i/rative action t is bas$ ^u orig9al in=mation provid$ by a :i/lebl[] t l$ to ! successful en=cem5t ( ! action4 7#g7 ,:i/lebl[] ,! t]m :i/lebl[] means any individual :o provides1 or #b or m individuals act+ jo9tly :o provide1 in=mation relat+ to a violation ( laws en=c$ by ,fin,c,e,n1 9 a mann] e/abli%$1 by rule or regulation1 by ,fin,c,e,n4 7b7 ,aw>ds 7#a7 ,9 g5]al ,9 any cov]$ judicial or adm9i/rative action1 or relat$ action1 ,fin,c,e,n1 "u regulations x prescribes & subject to subsection 7c71 %all pay an aw>d or aw>ds to #a or m :i/lebl[]s :o volunt>ily provid$ orig9al in=mation to ,fin,c,e,n t l$ to ! successful en=cem5t ( ! cov]$ judicial or adm9i/rative action1 or relat$ action1 9 an aggregate am\nt equal to-- 7,a7 n less ?an #aj p]c5t1 9 total1 ( :at has be5 collect$ ( ! monet>y sanctions impos$ 9 ! action or relat$ actions2 & 7,b7 n m ?an #cj p]c5t1 9 total1 ( :at has be5 collect$ ( ! monet>y sanctions impos$ 9 ! action or relat$ actions4 7#b7 ,s\rce ( aw>ds ,= ! purposes ( pay+ any aw>d "u p>agraph 7#a7 !re are au?oriz$ to be appropriat$ su* sums z may be necess>y1 & ! ,secret>y may also use funds f ! ,dep>tm5t ( ! ,treasury ,=feiture ,fund & ! ,dep>tm5t ( ,ju/ice ,assets ,=feiture ,fund4 7c7 ,det]m9ation ( am\nt ( aw>d2 d5ial ( aw>d 7#a7 ,det]m9ation ( am\nt ( aw>d 7,a7 ,discretion ,! det]m9ation ( ! am\nt ( an aw>d made "u subsection 7b7 %all be 9 ! discretion ( ,fin,c,e,n4 7,b7 ,crit]ia ,9 respond+ to a disclosure & det]m9+ ! am\nt ( an aw>d made1 ,fin,c,e,n %all meet ) ! :i/lebl[] to discuss evid5ce disclos$ & rebuttals to ! disclosure1 &-- 7i7 %all take into consid]ation-- 7,i7 ! significance ( ! in=mation provid$ by ! :i/lebl[] to ! success ( ! cov]$ judicial or adm9i/rative action2 7,,ii7 ! degree ( assi/ance provid$ by ! :i/lebl[] & any legal repres5tative ( ! :i/lebl[] 9 a cov]$ judicial or adm9i/rative action2 7,,iii7 ! mission ( ,fin,c,e,n 9 det]r+ violations ( ! law by mak+ aw>ds to :i/lebl[]s :o provide in=mation t lead to ! successful en=cem5t ( su* laws2 & 7,,iv7 su* additional relevant factors z ,fin,c,e,n may e/abli% by rule or regulation2 & 7ii7 %all n take into consid]ation ! balance ( any fund describ$ "u section #ecbc7;d74 7#b7 ,d5ial ( aw>d ,no aw>d "u subsection 7b7 %all be made-- 7,a7 to any :i/lebl[] :o is1 or 0 at ! "t ! :i/lebl[] acquir$ ! orig9al in=mation submitt$ to ,fin,c,e,n1 a memb]1 (fic]1 or employee (-- 7i7 an appropriate regulatory ag5cy2 7ii7 ! ,dep>tm5t ( ,ju/ice2 7iii7 a self-regulatory organization2 or 7iv7 a law en=cem5t organization2 7,b7 to any :i/lebl[] :o is convict$ ( a crim9al violation relat$ to ! judicial or adm9i/rative action = :i* ! :i/lebl[] o!rwise c\ld receive an aw>d "u ?is section2 7,c7 to any :i/lebl[] :o ga9s ! in=mation ?r\gh ! p]=mance ( an audit ( f9ancial /atem5ts requir$ "u ! ,bank ,secrecy ,act & = :om su* submission w\ld be contr>y to its requirem5ts2 or 7,d7 to any :i/lebl[] :o fails to submit in=mation to ,fin,c,e,n 9 su* =m z ,fin,c,e,n may1 by rule1 require4 7#c7 ,/atem5t ( reasons ,= any decision grant+ or d5y+ an aw>d1 ,fin,c,e,n %all provide to ! :i/lebl[] a /atem5t ( reasons t includes f9d+s ( fact & conclusions ( law = all mat]ial issues 7d7 ,repres5tation 7#a7 ,p]mitt$ repres5tation ,any :i/lebl[] :o makes a claim = an aw>d "u subsection 7b7 may be repres5t$ by c\nsel4 7#b7 ,requir$ repres5tation 7,a7 ,9 g5]al ,any :i/lebl[] :o anonym\sly makes a claim = an aw>d "u subsection 7b7 %all be repres5t$ by c\nsel if ! :i/lebl[] anonym\sly submits ! in=mation ^u :i* ! claim is bas$4 7,b7 ,disclosure ( id5tity ,prior to ! paym5t ( an aw>d1 a :i/lebl[] %all disclose _! id5tity & provide su* o!r in=mation z ,fin,c,e,n may require1 directly or ?r\gh c\nsel = ! :i/lebl[]4 7e7 ,appeals ,any det]m9ation made "u ?is section1 includ+ :e!r1 to :om1 or 9 :at am\nt to make aw>ds1 %all be 9 ! discretion ( ,fin,c,e,n4 ,any su* det]m9ation1 except ! det]m9ation ( ! am\nt ( an aw>d if ! aw>d 0 made 9 accordance ) subsection 7b71 may be appeal$ to ! appropriate c\rt ( appeals ( ! ,unit$ ,/ates n m ?an #cj days aft] ! det]m9ation is issu$ by ,fin,c,e,n4 ,! c\rt %all review ! det]m9ation made by ,fin,c,e,n 9 accordance ) section #gjf ( title #e4 2 & 7#b7 9 ! table ( cont5ts = su* *apt]1 by ins]t+ aft] ! item relat+ to section #ecbc ! foll[+ new item3 #ecbc;,a4 ,:i/lebl[] inc5tives 4 ,,vi ,s5se ( ! ,congress reg>d+ crim9al p5alties #fja4 ,s5se ( ! ,congress ,x is ! s5se ( ,congress t ! ,dep>tm5t ( ,ju/ice %\ld vigor\sly pursue crim9al p5alties to ! maximum ext5t ( ! law1 includ+ prison s5t5ces1 = individuals :o willfully violate ,bank ,secrecy ,act anti-money laund]+ laws1 !reby expos+ ! ,u4,s4 f9ancial sy/em to a wide array ( money laund]+1 drug traffick+ & t]rorism f9anc+ risks4 ,,vii ,/r5g!n+ global commitm5ts #gja4 ,int]national coord9ation ,! ,secret>y ( ! ,treasury %all "w ) ! ,secret>y's =eign c\nt]p>ts1 includ+ ?r\gh ! ,f9ancial ,action ,task ,=ce1 ! ,int]national ,monet>y ,fund1 ! ,_w ,bank1 & ! ,unit$ ,nations1 to promote /rong] anti-money laund]+ frameworks & en=cem5t ( anti-money laund]+ laws4 #gjb4 ,s5se ( ,congress reg>d+ li/ ( c\ntries at high risk = money laund]+ ,x is ! s5se ( ,congress t :5 ,treasury id5tifies c\ntries or jurisdictions z a prim>y money laund]+ conc]n "u section #caa ( ! ,,usa ,patriot ,act1 x %\ld consid]-- 7#a7 c\ntries & jurisdictions id5tifi$ by ! ,dep>tm5t ( ,/ate 9 its annual ,int]national ,n>cotics ,control ,/rategy ,report z ,jurisdictions ( ,prim>y ,conc]n or jurisdiction's subject to height5$ scrut9y2 7#b7 :e!r ! ,f9ancial ,action ,task ,=ce has id5tifi$ a c\ntry or jurisdiction z hav+ anti-money laund]+ or c\nt]-t]rorism f9anc+ defici5cies & to :i* c\nt]measures apply2 & 7#c7 c\ntries & jurisdictions t h n made suffici5t progress 9 address+ ! defici5cies id5tifi$ by ! ,f9ancial ,action ,task ,=ce or h n committ$ to an action plan develop$ ) ! ,f9ancial ,action ,task ,=ce to address ! defici5cies4