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18 U.S.C. § 1960 — Prohibition of unlicensed money transmitting businesses
Federal law — U.S. Code and appendices · legal_authorities
**(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5330&num=0&edition=prelim), 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 promote or support unlawful activity;
(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.
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Source file: Laws/federal/codes/united-states-code/title-18/section-1960-prohibition-of-unlicensed-money-transmitting-businesses--9b815cacea.md
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Source location: Title 18, Chapter 95, § 1960; chapter-095-racketeering.md
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**(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5330&num=0&edition=prelim), 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 promote or support unlawful activity;
(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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Registration With Secretary of the Treasury Required.—**
(1) **In general.—** — Any person who owns or controls a money transmitting business shall register the business (whether or not the business is licensed as a money transmitting business in any State) with the Secretary of the Treasury not later than the end of the 180-day period beginning on the later of—
(A) the date of enactment of the Money Laundering Suppression Act of 1994; or
(B) the date on which the business is established.
(2) **Form and manner of registration.—** — Subject to the requirements of subsection (b), the Secretary of the Treasury shall prescribe, by regulation, the form and manner for registering a money transmitting business pursuant to paragraph (1).
(3) **Businesses remain subject to state law.—** — This section shall not be construed as superseding any requirement of State law relating to money transmitting businesses operating in such State.
(4) **False and incomplete information.—** — The filing of false or materially incomplete information in connection with the registration of a money transmitting business shall be considered as a failure to comply with the requirements of this subchapter.
**(b) Contents of Registration.—** The registration of a money transmitting business under subsection (a) shall include the following information:
(1) The name and location of the business.
(2) The name and address of each person who—
(A) owns or controls the business;
(B) is a director or officer of the business; or
(C) otherwise participates in the conduct of the affairs of the business.
(3) The name and address of any depository institution at which the business maintains a transaction account (as defined in section 19(b)(1)(C) of the Federal Reserve Act).
(4) An est
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5330
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Federal law — U.S. Code and appendices · legal_authorities
Page 482
TITLE 18—CRIMES AND CRIMINAL PROCEDURE
§ 1959
1 So in original. The word ‘‘of’’ probably should not appear.
(3) ‘‘State’’ includes a State of the United
States, the District of Columbia, and any com-
monwealth, territory, or possession of the
United States.
(Added Pub. L. 98–473, title II, § 1002(a), Oct. 12,
1984, 98 Stat. 2136, § 1952A; renumbered § 1958 and
amended Pub. L. 100–690, title VII, §§ 7053(a),
7058(b), Nov. 18, 1988, 102 Stat. 4402, 4403; Pub. L.
101–647, title XII, § 1205(k), title XXXV, § 3558,
Nov. 29, 1990, 104 Stat. 4831, 4927; Pub. L. 103–322,
title VI, § 60003(a)(11), title XIV, § 140007(b), title
XXXII, § 320105, title XXXIII, § 330016(1)(L), (N),
(Q), Sept. 13, 1994, 108 Stat. 1969, 2033, 2111, 2147,
2148; Pub. L. 104–294, title VI, §§ 601(g)(3), 605(a),
Oct. 11, 1996, 110 Stat. 3500, 3509; Pub. L. 108–458,
title VI, § 6704, Dec. 17, 2004, 118 Stat. 3766.)
Editorial Notes
AMENDMENTS
2004—Subsec. (a). Pub. L. 108–458, § 6704(1), substituted
‘‘facility of’’ for ‘‘facility in’’.
Subsec. (b)(2). Pub. L. 108–458, § 6704(2), inserted ‘‘or
foreign’’ after ‘‘interstate’’.
1996—Subsec. (a). Pub. L. 104–294 substituted comma
for ‘‘or who conspires to do so’’ after ‘‘or who conspires
to do so’’ and substituted ‘‘this title or imprisoned’’ for
‘‘this title and imprisoned’’ before ‘‘for not more than
twenty years’’.
1994—Pub. L. 103–322, § 330016(1)(Q), which directed the
amendment of this section by substituting ‘‘under this
title’’ for ‘‘not more than $50,000’’, could not be exe-
cuted because the phrase ‘‘not more than $50,000’’ did
not appear in text subsequent to amendment of subsec.
(a) by Pub. L. 103–322, § 60003(a)(11). See below.
Subsec. (a). Pub. L. 103–322, § 330016(1)(N), substituted
‘‘fined under this title’
Source: Supplied 2024 U.S. Code historical extraction · 18 U.S.C. § 1960
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