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3 Prosecutions
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9 Prosecutions
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2 Convictions
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9 Convictions
in Fiscal Year 2013

CITE

    18 USC Sec. 1960                                            01/05/2009

EXPCITE

    TITLE 18 - CRIMES AND CRIMINAL PROCEDURE
    PART I - CRIMES
    CHAPTER 95 - RACKETEERING

HEAD

    Sec. 1960. Prohibition of unlicensed money transmitting businesses

STATUTE

      (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,
        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.

SOURCE

    (Added Pub. L. 102-550, title XV, Sec. 1512(a), Oct. 28, 1992, 106
    Stat. 4057; amended Pub. L. 103-325, title IV, Sec. 408(c), Sept.
    23, 1994, 108 Stat. 2252; Pub. L. 107-56, title III, Sec. 373(a),
    Oct. 26, 2001, 115 Stat. 339; Pub. L. 109-162, title XI, Sec.
    1171(a)(2), Jan. 5, 2006, 119 Stat. 3123.)

AMENDMENTS

      2006 - Subsec. (b)(1)(C). Pub. L. 109-162 substituted "to be
    used" for "to be used to be used".
      2001 - Pub. L. 107-56 amended section catchline and text
    generally, substituting provisions relating to prohibition of
    unlicensed money transmitting businesses for similar provisions
    relating to prohibition of illegal money transmitting businesses.
      1994 - Subsec. (b)(1). Pub. L. 103-325 amended par. (1)
    generally. Prior to amendment, par. (1) read as follows:
      "(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;".
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