This monograph analyzes the Bank Secrecy Act and the developing case law pertaining to it, so that investigators may be assisted in the investigation of groups dealing in substantial sums of illegal money, whether the underlying criminal conduct involves narcotics, organized crime, or white-collar crime.
The opening chapter reviews the legislative history of the foreign and domestic currency transaction reporting sections of the Bank Secrecy Act. The discussion deals with the special problems which led to the enactment of Title II of the Bank Secrecy Act, the congressional introduction of and 1970 debates over Title II, the 1982 recodification of the foreign and domestic financial transaction reporting sections of the Bank Secrecy Act, and the proposed amendments to the foreign and domestic financial transaction reporting requirements. A chapter then considers the reporting and recordkeeping requirements of the Bank Secrecy Act, followed by an explanation of the procedure required to obtain access to and dissemination of Bank Secrecy Act reports and information. A chapter then describes the various records required to be kept by persons having financial interests in foreign financial accounts and by financial institutions, banks, and securities and exchange brokers. Another chapter provides prosecutors and investigators with some helpful tools for using the provisions of Titles 18, 21, 26, and 31 of the United States Code which relate to acts of illegal money laundering and currency transportation. Included are both a discussion of offense elements and case law for the statutes. The final chapter provides an overview of forfeiture law and procedure as applied to cases under the Bank Secrecy Act. Almost 300 footnotes are provided. The appendixes contain various sample forms, models of an affidavit and complaint, definitions and examples of monetary instruments, case law pertaining to reporting provisions of Title 31, and a bibliography on Title 31. A table of cases and a subject index are provided.