S.Amdt. 4340

1. Adds TITLE __--AUTHORIZING SPECIAL MEASURES FOR JURISDICTIONS, FINANCIAL at the in the amendment being amended

   Adds a title

   Inserted: TITLE __--AUTHORIZING SPECIAL MEASURES FOR JURISDICTIONS, FINANCIAL

   Inserted: INSTITUTIONS, INTERNATIONAL TRANSACTIONS, OR TYPES OF ACCOUNTS THAT ARE OF PRIMARY MONEY LAUNDERING CONCERN OR IMPEDE UNITED STATES TAX ENFORCEMENT

   Inserted: SEC. ___. AUTHORIZING SPECIAL MEASURES FOR JURISDICTIONS, FINANCIAL INSTITUTIONS, INTERNATIONAL TRANSACTIONS, OR TYPES OF ACCOUNTS THAT ARE OF PRIMARY MONEY LAUNDERING CONCERN OR IMPEDE UNITED STATES TAX ENFORCEMENT.

   Inserted: Section 5318A of title 31, United States Code, is amended--

   Inserted: (1) by striking the section heading and inserting the following:

   Inserted: "Sec. 5318A. Special measures for jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or impede United States tax enforcement";

   Inserted: (2) in subsection (a), by striking the subsection heading and inserting the following:

   Inserted: "(a) Special Measures To Counter Money Laundering and Efforts To Impede United States Tax Enforcement.--";

   Inserted: (3) in subsection (c), by striking the subsection heading and inserting the following:

   Inserted: "(c) Consultations and Information To Be Considered in Finding Jurisdictions, Institutions, Types of Accounts, or Transactions To Be of Primary Money Laundering Concern or To Be Impeding United States Tax Enforcement.--";

   Inserted: (4) in subsection (a)(1), by inserting "or is impeding United States tax enforcement" after "primary money laundering concern";

   Inserted: (5) in subsection (a)(4)--

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   Inserted: (A) in subparagraph (A)--

   Inserted: (i) by inserting "in matters involving money laundering," before "shall consult"; and

   Inserted: (ii) by striking "and" at the end;

   Inserted: (B) by redesignating subparagraph (B) as subparagraph (C); and

   Inserted: (C) by inserting after subparagraph (A) the following:

   Inserted: "(B) in matters involving United States tax enforcement, shall consult with the Commissioner of the Internal Revenue, the Secretary of State, the Attorney General of the United States, and in the sole discretion of the Secretary, such other agencies and interested parties as the Secretary may find to be appropriate; and";

   Inserted: (6) in each of paragraphs (1)(A), (2), (3), and (4) of subsection (b), by inserting "or to be impeding United States tax enforcement" after "primary money laundering concern" each place that term appears;

   Inserted: (7) in subsection (b), by striking paragraph (5) and inserting the following:

   Inserted: "(5) Prohibitions or conditions on opening or maintaining certain correspondent or payable-through accounts or authorizing certain payment cards.--If the Secretary finds a jurisdiction outside of the United States, 1 or more financial institutions operating outside of the United States, or 1 or more classes of transactions within or involving a jurisdiction outside of the United States to be of primary money laundering concern or to be impeding United States tax enforcement, the Secretary, in consultation with the Secretary of State, the Attorney General of the United States, and the Chairman of the Board of Governors of the Federal Reserve System, may prohibit, or impose conditions upon--

   Inserted: "(A) the opening or maintaining in the United States of a correspondent account or payable-through account; or

   Inserted: "(B) the authorization, approval, or use in the United States of a credit card, charge card, debit card, or similar credit or debit financial instrument by any domestic financial institution, financial agency, or credit card company or association, for or on behalf of a foreign banking institution, if such correspondent account, payable-through account, credit card, charge card, debit card, or similar credit or debit financial instrument, involves any such jurisdiction or institution, or if any such transaction may be conducted through such correspondent account, payable-through account, credit card, charge card, debit card, or similar credit or debit financial instrument."; and

   Inserted: (8) in subsection (c)(1), by inserting "or is impeding United States tax enforcement" after "primary money laundering concern";

   Inserted: (9) in subsection (c)(2)(A)--

   Inserted: (A) in clause (ii), by striking "bank secrecy or special regulatory advantages" and inserting "bank, tax, corporate, trust, or financial secrecy or regulatory advantages";

   Inserted: (B) in clause (iii), by striking "supervisory and counter-money" and inserting "supervisory, international tax enforcement, and counter-money";

   Inserted: (C) in clause (v), by striking "banking or secrecy" and inserting "banking, tax, or secrecy"; and

   Inserted: (D) in clause (vi), by inserting ", tax treaty, or tax information exchange agreement" after "treaty";

   Inserted: (10) in subsection (c)(2)(B)--

   Inserted: (A) in clause (i), by inserting "or tax evasion" after "money laundering"; and

   Inserted: (B) in clause (iii), by inserting ", tax evasion," after "money laundering"; and

   Inserted: (11) in subsection (d), by inserting "involving money laundering, and shall notify, in writing, the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives of any such action involving United States tax enforcement" after "such action".

   Original wording

   At the end of the amendment, insert the following:

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As printed