106 STAT. 4060 PUBLIC LAW 102-550—OCT. 28, 1992

"(1) IN GENERAL.—The Secretary may require any financial
institution, and any director, officer, employee, or agent of
any financial institution, to report any suspicious transaction
relevant to a possible violation of law or regulation.

"(2) NOTIFICATION PROHIBITED.—A financial institution, and
a director, officer, employee, or agent of any financial institu-
tion, who voluntarily reports a suspicious transaction, or that
reports a suspicious transaction pursuant to this section or
any other authority, may not notify any person involved in
the transaction that the transaction has been reported.

"(3) LIABILITY FOR DISCLOSURES.—Any financial institution
that makes a disclosure of any possible violation of law or
regulation or a disclosure pursuant to this subsection or any
other authority, and any director, officer, employee, or agent
of such institution, shall not be liable to any person under
any law or regulation of the United States or any constitution,
law, or regulation of any State or political subdivision thereof,
for such disclosure or for any failure to notify the person
involved in the transaction or any other person or such
disclosure,
"(h) ANTI-MONEY LAUNDERING PROGRAMS.—

"(1) IN GENERAL.—In order to guard against money launder-
ing through financial institutions, the Secretary may require
financial institutions to carry out anti-money laundering pro-
grams, including at a minimum

"(A) the development of internal policies, procedures,

and controls,

"(B) the designation of a compliance officer,

"(C) an ongoing employee training program, and

"(D) an independent audit function to test programs.

"(2) REGULATIONS.—The Secretary may prescribe minimum
standards for programs established under paragraph (I).".

31 USC 5311 SEC. 1518. ANTI-MONEY LAUNDERING TRAINING TEAM.

note< The Secretary of the Treasury and the Attorney General shall

jointly establish a team of experts to assist and provide training
to foreign governments and agencies thereof in developing and
expanding their capabilities for investigating and prosecuting viola-
tions of money laundering and related laws.

SEC. 1519. INTERNATIONAL MONEY LAUNDERING REPORTS.

(a) UNITED STATES OBJECTIVES.—Section 481(aXD of the For-
eign Assistance Act of 1961 (22 U.S.C. 2291(aXD) is amended—

(1) by striking out "and" at the end of subparagraph (D);

(2) by redesignating subparagraph (E) as subparagraph
(F); and

(3) by inserting after subparagraph (D) the following new
subparagraph:

"(E) the objective of the United States in dealing with
the problem of international money laundering should be to
ensure that countries adopt comprehensive domestic measures
against money laundering and cooperative with each other
in narcotics money laundering investigations, prosecutions, and
related forfeiture actions; and

(b) ANNUAL REPORTS.—Section 481(e) of that Act (22 U.S.C.
2291(e)) is amended—

(1) by redesignating paragraphs (7) and (8) as paragraphs
(8) and (9), respectively; and