PROHIBITION OF ILLEGAL MONEY TRANSMITTING BUSINESSES.

SEC. 1512. PROHIBITION OF ILLEGAL MONEY TRANSMITTING BUSINESSES. (a) In General.—Chapter 95 of title 18, United States Code, is amended by adding at the end the following section: “§1960. Prohibition of illegal money transmitting businesses “(a) Whoever conducts, controls, manages, supervises, directs, or owns all or part of a business, knowing the business is an illegal 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 ‘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; “(2) the term ‘money transmitting’ includes but is not limited to 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 106 STAT. 4058 “(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.”. (b) Clerical Amendment.—The table of sections for chapter 95 of title 18, United States Code, is amended by adding at the end the following item: “1960. Prohibition of illegal money transmitting busineesses.”. (c) Criminal Forfeiture.—Section 982(a)(1) of title 18, United States Code, is amended by striking “or 1957” and inserting “, 1957, or 1960”.