18 U.S.C. § 1960 — Prohibition of unlicensed money transmitting businesses
submitted 34 years ago by Pub. L. 102-550 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 244 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
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.
As used in this section—
the term “unlicensed money transmitting business” means a money transmitting business which affects interstate or foreign commerce in any manner or degree and—
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;
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
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 promote or support unlawful activity;
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
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.
Source credit: (Added Pub. L. 102–550, title XV, § 1512(a), Oct. 28, 1992, 106 Stat. 4057; amended Pub. L. 103–325, title IV, § 408(c), Sept. 23, 1994, 108 Stat. 2252; Pub. L. 107–56, title III, § 373(a), Oct. 26, 2001, 115 Stat. 339; Pub. L. 109–162, title XI, § 1171(a)(2), Jan. 5, 2006, 119 Stat. 3123.)
- 1992Enacted · Pub. L. 102-550 · 106 Stat. 4057
- 1994Amended · Pub. L. 103-325 · 108 Stat. 2252
- 2001Amended · Pub. L. 107-56 · 115 Stat. 339
- 2006Amended · Pub. L. 109-162 · 119 Stat. 3123
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-550 on 1992-10-28.
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