§ 1960. — Prohibition of illegal money transmitting businesses.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 18USC1960]
TITLE 18--CRIMES AND CRIMINAL PROCEDURE
PART I--CRIMES
CHAPTER 95--RACKETEERING
Sec. 1960. Prohibition of unlicensed money transmitting
businesses
(a) Whoever knowingly conducts, controls, manages, supervises,
directs, or owns all or part of an unlicensed money transmitting
business, shall be fined in accordance with this title or imprisoned not
more than 5 years, or both.
(b) As used in this section--
(1) the term ``unlicensed money transmitting business'' means a
money transmitting business which affects interstate or foreign
commerce in any manner or degree and--
(A) is operated without an appropriate money transmitting
license in a State where such operation is punishable as a
misdemeanor or a felony under State law, whether or not the
defendant knew that the operation was required to be licensed or
that the operation was so punishable;
(B) fails to comply with the money transmitting business
registration requirements under section 5330 of title 31, United
States Code, or regulations prescribed under such section; or
(C) otherwise involves the transportation or transmission of
funds that are known to the defendant to have been derived from
a criminal offense or are intended to be used to be used \1\ to
promote or support unlawful activity;
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\1\ So in original.
(2) the term ``money transmitting'' includes transferring funds
on behalf of the public by any and all means including but not
limited to transfers within this country or to locations abroad by
wire, check, draft, facsimile, or courier; and
(3) the term ``State'' means any State of the United States, the
District of Columbia, the Northern Mariana Islands, and any
commonwealth, territory, or possession of the United States.
(Added Pub. L. 102-550, title XV, Sec. 1512(a), Oct. 28, 1992, 106 Stat.
4057; amended Pub. L. 103-325, title IV, Sec. 408(c), Sept. 23, 1994,
108 Stat. 2252; Pub. L. 107-56, title III, Sec. 373(a), Oct. 26, 2001,
115 Stat. 339.)
Amendments
2001--Pub. L. 107-56 amended section catchline and text generally,
substituting provisions relating to prohibition of unlicensed money
transmitting businesses for similar provisions relating to prohibition
of illegal money transmitting businesses.
1994--Subsec. (b)(1). Pub. L. 103-325 amended par. (1) generally.
Prior to amendment, par. (1) read as follows:
``(1) the term `illegal money transmitting business' means a money
transmitting business that affects interstate or foreign commerce in any
manner or degree and which is knowingly operated in a State--
``(A) without the appropriate money transmitting State license;
and
``(B) where such operation is punishable as a misdemeanor or a
felony under State law;''.
Termination Date of 2001 Amendment
Amendments by title III of Pub. L. 107-56 to terminate effective on
and after the first day of fiscal year 2005 if Congress enacts a joint
resolution that such amendments no longer have the force of law, see
section 303 of Pub. L. 107-56, set out as a Four-Year Congressional
Review; Expedited Consideration note under section 5311 of Title 31,
Money and Finance.
Section Referred to in Other Sections
This section is referred to in sections 981, 982, 986, 1956 of this
title; title 12 sections 1786, 1818; title 31 section 5328.
