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work as “equals” in “unison” with politicians to write laws to govern your life. Big
MODEL LEGISLATION
TASK
FORCESaccording
ALEC INITIATIVES
PUBLICATIONS
Business
has “a VOICE and
a VOTE,”
to newly exposed
documents. DO YOU?

NEWS

Money Laundering Act
Summary
This Act would require businesses and financial institutions to file cash transaction reports with the appropriate state
department when a party to cash transactions involving $10,000 or more. The reports would be identical to reports filed with
federal authorities in conformity with federal law. Businesses and financial institutions that do not file the reports would be
subject to civil penalty. This Act would also define the offense of money laundering with a penalty of up to 20 years in prison
and a fine of up to $1,000,000.

Model Legislation
{Title, enacting clause, etc.}
Section 1. {Title.} This Act shall be known and may be cited as the Money Laundering Act.
Section 2. {Definitions.} As used in this Act:
(A) "Business" means [definition].
(B) "Currency" means currency and coin of the United States.
(C) "Financial institution" means any person or business defined as a
"bank," "financial agency," or "financial institution" by the United States Code of Federal Regulations and any state bank or
banking association, commercial bank, investment bank, insurer, dealer in metals, coins, or gems, trust company, credit
union, agency, agent, or branch of a foreign bank, currency dealer, person or business engaged primarily in the cashing of
checks, person or business engaged in the issuing, selling, or redeeming of travelers' checks, money orders, or similar
instruments, and any broker or dealer in securities organized under the laws of the United States or any state.
(D) "Trade" means [definition].
(E) "Transaction" includes the deposit, withdrawal, transfer, bailment, loan, pledge, payment, or exchange of currency by,
through, or to a financial institution.

Section 3. {Cash transaction reporting requirements.}
(A) All financial institutions and any person in a trade or business shall keep a record of any currency transaction in excess of
$10,000 and shall file a report of each such transaction with the [cite appropriate department] within 15 days after the date
of the transaction.
(B) The information in the report shall include:
(1) full identity of the person who made the transaction;
(2) full identity of the owner of the currency; and
(3) details of the date, location, and amount of the transaction.
(C) The filing with the [cite appropriate department] of a duplicate copy of each report required by 31 U.S.C. 5313 and 31
C.F.R. 103.22 shall satisfy all recording and reporting requirements of this Act. Any currency transactions exempt from
recording and reporting under 31 U.S.C. 5313 shall be exempt from the requirements of this Act.
(D) No financial institution or any officer, employee, agent, or director thereof filing a report pursuant to this Act shall be liable
to any person for any loss or damage caused in whole or in part by the making, filing, or government use of the report or any
information contained therein.
(E) The financial institution or person in trade or business shall keep a copy of the form for five years.

Section 4. {CTR Report confidentiality.} The information obtained by the [cite appropriate department] pursuant to
this Act shall not be provided to any person except:

(A) pursuant to a lawful subpoena or subpoena duces tecum issued by a state attorney, a United States attorney, or a court in
a criminal proceeding;
(B) pursuant to any such subpoena issued by a state or federal grand jury;
(C) pursuant to any such subpoena issued by a state attorney, United States attorney, or a court in the course of a civil
judicial proceeding instituted by a state attorney or United States attorney; or
(D) when the director of the [cite appropriate department] deems it necessary or proper to the enforcement of the laws of this
state or the United States and in the best interest of the public.

Section 5. {Civil penalty for noncompliance.} Any financial institution, or any officer, employee, agent, or director

thereof who knowingly or intentionally violates Section 3 of this Act shall be subject to a civil penalty which shall not exceed

$100 for each day in which the violation continues. The cumulative civil penalty shall not exceed $500.

Section 6. {Money laundering.}
(A) It is unlawful for any person knowingly or intentionally to receive or acquire proceeds or engage in transactions involving
proceeds known to be derived from any violation of [cite state controlled substance act].
(B) It is unlawful for any person knowingly or intentionally to give, sell, transfer, trade, invest, conceal, transport, or maintain
an interest in or otherwise make available anything of value known to be for the purpose of committing or furthering the
commission of any violation of the [cite state controlled substance act].
(C) It is unlawful for any person knowingly or intentionally to direct, plan, organize, initiate, finance, manage, supervise, or
facilitate the transportation or transfer of proceeds known to be derived from any violation of the [cite state controlled
substance act].
(D) It is unlawful for any person knowingly or intentionally to conduct a financial transaction involving proceeds derived from a
violation of the [cite state controlled substance act] when the transaction is designed in whole or in part to conceal or disguise
the nature, location, source, ownership, or control of the proceeds known to be derived from a violation of the [cite state
controlled substance act] or to avoid transaction reporting requirement under state or federal law.
(E) A person who violates this section is guilty of a crime and upon conviction may be imprisoned for not more than 20 years,
fined not more than $1,000,000 or 5 times the value of the proceeds involved, or both.

Section 7. {Severability clause.}

ALEC’s’Corporate Board
--in recent past or present

Section 8. {Repealer clause.}
Section 9. {Effective date.}
ALEC's Sourcebook of American State Legislation 1995

About Us and ALEC EXPOSED. The Center for Media and Democracy reports on corporate spin and government
propaganda.! We are located in Madison, Wisconsin, and publish www.PRWatch.org, www.SourceWatch.org,
and now www.ALECexposed.org. For more information contact: editor@prwatch.org or 608-260-9713.

• AT&T Services, Inc.
• centerpoint360
• UPS
• Bayer Corporation
• GlaxoSmithKline
• Energy Future Holdings
• Johnson & Johnson
• Coca-Cola Company
• PhRMA
• Kraft Foods, Inc.
• Coca-Cola Co.
• Pfizer Inc.
• Reed Elsevier, Inc.
• DIAGEO
• Peabody Energy
• Intuit, Inc.
• Koch Industries, Inc.
• ExxonMobil
• Verizon
• Reynolds American Inc.
• Wal-Mart Stores, Inc.
• Salt River Project
• Altria Client Services, Inc.
• American Bail Coalition
• State Farm Insurance
For more on these corporations,
search at www.SourceWatch.org.

ALEC EXPOSED
“ALEC” has long been a
secretive collaboration
between Big Business and
“conservative” politicians.
Behind closed doors, they
ghostwrite “model” bills to
be introduced in state
capitols across the country.
This agenda--underwritten
by global corporations-includes major tax
loopholes for big industries
and the super rich,
proposals to offshore U.S.
jobs and gut minimum
wage, and efforts to
weaken public health,
safety, and environmental
protections. Although many
of these bills have become
law, until now, their origin
has been largely unknown.
With ALEC EXPOSED, the
Center for Media and
Democracy hopes more
Americans will study the
bills to understand the
depth and breadth of how
big corporations are
changing the legal rules
and undermining democracy
across the nation.