106 STAT. 4058 PUBLIC LAW 102-550—OCT. 28, 1992

"(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:

"I960. Prohibition of illegal money transmitting businesses.".

(c) CRIMINAL FORFEITURE.—Section 982(aXD of title 18, United
States Code, is amended by striking "or 1957" and inserting ",
1957, or I960".

SEC. 1513. COMPLIANCE PROCEDURES.

Section 5318(aX2) of title 31, United States Code, is amended
by inserting "or to guard against money laundering" before the
semicolon.

SEC. 1614. NONDISCLOSURE OF ORDERS.

Section 5326 of title 31, United States Code, is amended by
adding at the end the following:

"(c) NONDISCLOSURE OF ORDERS.—No financial institution or
officer, director, employee or agent of a financial institution subject
to an order under this section may disclose the existence of, or
terms of, the order to any person except as prescribed by the
Secretary.".

SEC. 1515. PROVISIONS RELATING TO RECORDKEEPING WITH
RESPECT TO CERTAIN FUNDS TRANSFERS.

(a) RECORDKEEPING REGULATIONS REQUIRED.—Section 2Kb) of
the Federal Deposit Insurance Act (12 U.S.C. 1829b(b)) is
amended—

(1) by striking "(b) Where" and inserting a(b) RECORD-
KEEPING REGULATIONS.—

a(l) IN GENERAL.—Where"; and

(2) by adding at the end the following new paragraphs:
"(2) DOMESTIC FUNDS TRANSFERS.—Whenever the Secretary

and the Board of Governors of the Federal Reserve System
(hereafter in this section referred to as the 'Board') determine
that the maintenance of records, by insured depository institu-
tions, of payment orders which direct transfers of fund's over
wholesale funds transfer systems has a high degree of useful-
ness in criminal, tax, or regulatory investigations or proceed-
ings, the Secretary and the Board shall jointly prescribe
regulations to carry out the purposes of this section with respect
to the maintenance of such records.

"(3) INTERNATIONAL FUNDS TRANSFERS.—

"(A) IN GENERAL.—The Secretary and the Board shall
jointly prescribe, after consultation with State banking
supervisors, final regulations requiring that insured deposi-
tory institutions, businesses that provide check cashing
services, money transmitting businesses, and businesses
that issue or redeem money orders, travelers' checks or
other similar instruments maintain such records of pay-
ment orders which—

"(i) involve international transactions; and
"(ii) direct transfers of funds over wholesale funds
transfer systems or on the books of any insured deposi-
tory institution, or on the books of any business that