Page:United States Statutes at Large Volume 115 Part 1.djvu/348

From Wikisource
Jump to: navigation, search
This page needs to be proofread.


115 STAT. 326 PUBLIC LAW 107-56 —OCT. 26, 2001 SEC. 358. BANK SECRECY PROVISIONS AND ACTIVITIES OF UNITED STATES INTELLIGENCE AGENCIES TO FIGHT INTER- NATIONAL TERRORISM. (a) AMENDMENT RELATING TO THE PURPOSES OF CHAPTER 53 OF TITLE 31, UNITED STATES CODE.— Section 5311 of title 31, United States Code, is amended by inserting before the period at the end the following: ", or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism". (b) AMENDMENT RELATING TO REPORTING OF SUSPICIOUS ACTIVI- TIES. — Section 5318(g)(4)(B) of title 31, United States Code, is amended by striking "or supervisory agency" and inserting ", supervisory agency, or United States intelligence agency for use in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism". (c) AMENDMENT RELATING TO AVAILABILITY OF REPORTS. —Section 5319 of title 31, United States Code, is amended to read as follows: "§ 5319. Availability of reports "The Secretary of the Treasury shall make information in a report filed under this subchapter available to an agency, including any State financial institutions supervisory agency. United States intelligence agency or self-regulatory organization registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission, upon request of the head of the agency or organization. The report shall be available for a purpose that is consistent with this subchapter. The Secretary may only require reports on the use of such information by any State financial institutions supervisory agency for other than supervisory purposes or by United States intelligence agencies. However, a report and records of reports are exempt from disclosure under section 552 of title 5.". (d) AMENDMENT RELATING TO THE PURPOSES OF THE BANK SECRECY ACT PROVISIONS.— Section 21(a) of the Federal Deposit Insurance Act (12 U.S.C. 1829b(a)) is amended to read as follows: " (a) CONGRESSIONAL FINDINGS AND DECLARATION OF PUR- POSE.— "(1) FINDINGS. —Congress finds that— "(A) adequate records maintained by insured depository institutions have a high degree of usefulness in criminal, tax, and regulatory investigations or proceedings, and that, given the threat posed to the security of the Nation on and after the terrorist attacks against the United States on September 11, 2001, such records may also have a high degree of usefulness in the conduct of intelligence or counterintelligence activities, including analysis, to protect against damestic and international terrorism; and "(B) microfilm or other reproductions and other records made by insured depository institutions of checks, as well as records kept by such institutions, of the identity of persons maintaining or authorized to act with respect to accounts therein, have been of particular value in proceedings described in subparagraph (A). "(2) PURPOSE. — It is the purpose of this section to require the maintenance of appropriate types of records by insured depository institutions in the United States where such records