Closing the Door and Leaving Open a Window: Closing the Check Cashing Money Laundering Regulatory Gap

8/12/2019 Closing the Door and Leaving Open a Window: Closing the Check Cashing Money Laundering Regulatory Gap

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SOBOTKINMACRO 3/6/2014 3/6/2014

Closing the Door and Leaving Open a

Window:

Closing the Check Cashing MoneyLaundering Regulatory Gap

David M. Sobotkin

I. INTRODCTION

nd!" t#! $%""!nt "!&%'ato"( )$#!*!+ ,#i$# !)tab'i)#!) a #(-!""!&%'at!d !nvi"on*!nt in ,#i$# a'' inan$ia' in)tit%tion) o-!"at!+ a ,id!&a- !i)t) o" $#!$k $a)#!"). T#i) &a- -"ovid!) a -!"*i))iv! )tat!+!!*-tin& $#!$k $a)#!") "o* va"io%) "!%i"!*!nt) i*-o)!d on ot#!"inan$ia' in)tit%tion))-!$ii$a''( t#! S%)-i$io%) A$tivit( R!-o"t SARand Kno, 5o%" C%)to*!" K5C "!%i"!*!nt). T#i) &a- #a) b!!nin$"!a)in&'( !-'oit!d b( $"i*ina' !'!*!nt) in t#! -a)t d!$ad!. C#!$k$a)#!") #av! b!$o*! a )a!#av!n o" t#o)! invo'v!d in o"&ani!d $"i*!+-%b'i$ $o""%-tion+ na"$oti$)+ a"*) )a'!)+ and t!""o"i)*. C#!$k $a)#!") a"!%nd!" no '!&a' ob'i&ation to "!-o"t i''i$it %)!) o inan$ia' in)tit%tion) to t#!!d!"a' o" )tat! &ov!"n*!nt). A) a "!)%'t+ $"i*ina') ot!n %)! $#!$k $a)#!")to !vad! )tat! and !d!"a' ta!)+ a) ,!'' a) to 'a%nd!" *on!( t#at b!$o*!)vi"t%a''( %nt"a$!ab'!. S%$# $"i*ina') $ontin%! to o-!"at! "o* an%nto%$#ab'! -oo' o inan$ia' "!)o%"$!) to !!$t t#!i" i''i$it &oa'). T#i)"!&%'ato"( &a-+ #o,!v!"+ *a(and )#o%'db! $'o)!d.

II. MON758AND7RIN9ANDOT:7RCRIM7SCOMMITT7DT:RO9:C:7CKCAS:7RS

T#! inan$ia' $on)!%!n$!) o i''!&a' and %n"!-o"t!d $#!$k $a)#in& int#! N!, 5o"k Cit( *!t"o-o'itan a"!a a"! d!va)tatin&. 7a$# (!a"+ in N!,5o"k Cit( a'on!+ *i''ion) o do''a") a"! %nn!'!d t#"o% %n"!&i)t!"!d$#!$k $a)#!") and "!*ain %n"!-o"t!d on !d!"a' ta "!t%"n);1#o,!v!"+ t#!

T:7 9RAND T:7 S=R7M7

CORT+ STAT7 O> N.5.+ CONT5 O> N.5. 13


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36 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21!$ono*i$ i*-a$t on t#! %nd!"&"o%nd !$ono*( i) n!a"'( i*-o))ib'! to%anti(.2>inan$ia' t"an)a$tion) o t#i) kind+ in addition to b!in& $"i*ina'$ond%$t in t#!i" o,n "it+ E$o*-'!*!nt $"i*! b( *akin& it *a"&ina''(!a)i!" to di"!$t'( !nFo( t#! &ain) "o* $"i*ina' a$tivit(+ to %nd!"tak!

'!&iti*at! !$ono*i$ inv!)t*!nt)+ to -'o, *on!( ba$k into $"i*ina'a$tivit(+ o" to avoid d!t!$tion.G3 M%'ti-'! inv!)ti&ation) o $o**!"$ia'$#!$k $a)#!") #av! "!v!a'!d t#at t#! ind%)t"( #a) b!$o*! a )a! #av!n o"'!&iti*at! and $"i*ina' $%)to*!") a'ik! to $a)# #i $%""!n$( $#!$k),it#o%t !d!"a' ov!")it+ and ,it#o%t -a(in& $it(+ )tat!+ and !d!"a' ta!).4

Ot!n t#!)! inv!)ti&ation) #av! '!d to $onvi$tion) o" *on!( 'a%nd!"in&+%)%"( and ta !va)ion )t!**in& "o* t#! $on$!a'*!nt o *on!(.? T#!$on)!%!n$!) o i''!&a' $#!$k $a)#in& a"! a""!a$#in& and advan$!$"i*ina' !nt!"-"i)!) o va"io%) t(-!).6 Co**!"$ia' $#!$k $a)#!") a"!i''i$it'( %)!d b( a va"i!t( o individ%a') and !ntiti!) to a$i'itat! $"i*ina'a$tivit(+ -ot!ntia''( in$'%din& na"$oti$)+ t!""o"i)*+ a"*) d!a')+ -%b'i$$o""%-tion+ and o"&ani!d $"i*!.

EA $o**!"$ia' $#!$k $a)#!" #and'!) $#!$k) *ad! -a(ab'! to b%)in!))!)+ ,#i'! aH "!tai' $#!$k $a)#!" . . . #and'!) $#!$k) *ad! -a(ab'! toindivid%a').GCo*-ani!) $an i''i$it'( %ti'i! t#! )!"vi$!) o a $#!$k $a)#!"in t,o ,a()@ 1 to $a)# $#!$k) ,"itt!n to t#! $o*-an(+ t#!n #id! t#i) $a)#b( not "!-o"tin& it on t#! $o*-an(J) book); o" 2 to ,"it! a $#!$k to ai$titio%) t#i"d-a"t( -a(!!+ $a)# t#! $#!$k+ and $"!at! a #oa"d o

9RANDinan$ia'

S()t!* ? IntJ' Mon!ta"( >%nd+ o"kin& =a-!" 6/?16.4 . R7=ORTO>T:79RAND


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200H C)EC* CAS)IN+ RE+,LATION 3%nt"a$!ab'! $a)#. T#!)! t#i"d-a"t( $#!$k) a"! t#! k!( o" $"i*ina') to!)tab'i)# #%&! "!)!"v!) o $a)# and %nd i''!&a' a$tion).

T#! t#i"d-a"t( )$#!*! b!&in) ,#!n an int!"*!dia"( "!$!iv!) a &"o%- o$#!$k) "o* a $%)to*!".107a$# )in&'! $#!$k ,i'' b! ,"itt!n to a i$titio%)

t#i"d-a"t(+ )o t#! $o*-an( $an )#o, t#at t#!)! a"! '!&iti*at! b%)in!))!-!n)!).11T#! int!"*!dia"( &iv!) t#! $%)to*!" $a)#+ *in%) #i) )%b)tantia'!!+ and do!) not i'! an( "!-o"t ,it# t#! &ov!"n*!nt. 12T#! int!"*!dia"(t#!n o"&ani!) t#! $#!$k) "o* *%'ti-'! $%)to*!") to d!'iv!" to a$o**!"$ia' bank+ o" an additiona' $#!$k $a)#!"+ b!in& $a"!%' t#at t#!$#!$k) "o* an( )in&'! $%)to*!" do not !$!!d 10+000.13T#i) *a( o$$%"ov!" a n%*b!" o da()+ in di!"!nt bat$#!) on t#! )a*! da(+ o" t#!int!"*!dia"( *a( tak! t#!* to di!"!nt oi$!) o t#! $o**!"$ia' $#!$k$a)#!".14 Int!"*!dia"i!) *a( -a)) t#! $#!$k) to anot#!" int!"*!dia"(,o"kin& in tand!*+ )!"vin& to %"t#!" di)tan$! t#! $a)# "o* t#! t"%!b!n!i$ia' o,n!" and -"!v!nt t"a$kin& b( 'a, !no"$!*!nt.1?

A C%""!n$( T"an)a$tion R!-o"t CTR *%)t b! i'!d b( t#! inan$ia'in)tit%tion+ in$'%din& $#!$k $a)#!")+ on an( t"an)a$tion t#at &!n!"at!)10+000 in $a)# b( o" on b!#a' o t#! )a*! -!")on on t#! )a*! b%)in!))da(.16#i'! t#! CTR i) d!)i&n!d to *onito" t#! 'o, o $a)# and $o*bati''!&a' )o%"$!) o "!v!n%!+ )o*! individ%a') #av! o%nd ,a() to $i"$%*v!ntt#! "!-o"tin& "!%i"!*!nt.1T#i) -"o$!))+ kno,n a) )t"%$t%"in&+ t(-i$a''(o$$%") ,#!n a )in&'! $%""!n$( t"an)a$tion i) b"ok!n do,n into *%'ti-'!t"an)a$tion) o a va'%! '!)) t#an 10+000+ and i) $ond%$t!d at *%'ti-'!'o$ation) o" on *%'ti-'! da().1 In addition to t#! CTR)+ SAR) *%)t b!i'!d b( a'' inan$ia' in)tit%tion)+ !$!-t $#!$k $a)#!")+ i t#! t"an)a$tioninvo'v!) %nd) o" a))!t) ov!" 2000+ and t#! inan$ia' in)tit%tion )%)-!$t)t#at t#i) t"an)a$tion i) d!"iv!d "o* i''!&a' a$tivit(+ i) d!)i&n!d to !vad!"!&%'ation)+ o" #a) no a--a"!nt 'a,%' -%"-o)!.1

T#!"! a"! *%'ti-'! i''i$it "!a)on) a $%)to*!" ,o%'d $#oo)! to !*-'o( t#!)!"vi$!) o a $#!$k $a)#!"+ "at#!" t#an a "!&i)t!"!d inan$ia' in)tit%tion. T#!$#!$k $a)#!" $an di)&%i)! t#! a*o%nt o *on!(+ &!n!"a''( %nd!" 10+000+

. See id.at 161.10 . Id.at 1314.11 . Id.at 14.12 . Id. at 1314.13 . Id.at 14.14 . Id.1? . Id.16 . R!-o"t) on Do*!)ti$ Coin) and C%""!n$( T"an)a$tion)+ 31 .S.C. P ?313 12

a*!nd!d 14.1 . R7=ORTO>T:79RANDT:79RAND


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3 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21and t#%) no CTR i) i'!d b( t#! inan$ia' in)tit%tion.20Additiona''(+ it &iv!)t#! $%)to*!" $a)# t#at $annot b! t"a$!d to t#! b%)in!)) a) in$o*!.21>ina''(+it a''o,) t#! $%)to*!" to in$'%d! t#!)! a*o%nt) a*on& b%)in!))!-!ndit%"!) to "a%d%'!nt'( o)!t t#! "!-o"t!d &"o)) in$o*! o t#!

b%)in!))+ and t#!"!b( !vad! b%)in!)) ta!).

22

T#i) *a( !nab'! t#! b%)in!))to )t!a' t#! a*o%nt t#at )#o%'d #av! b!!n -aid in )a'!) ta!)+ -a("o'' ta!)+and -!")ona' in$o*! ta!).23T#! )%* o t#!)! ta !va)ion) ,i'' a*o%nt toov!" 1 bi''ion in 'o)t )tat! and !d!"a' "!v!n%! ann%a''(. 24R!&ainin& t#i)*on!( t#"o% in$"!a)!d "!&%'ation and !no"$!*!nt o t#! "!&%'ato"()$#!*! ,i'' i)$a''( b!n!it $it(+ )tat!+ and !d!"a' &ov!"n*!nt)+ and ,i'''ik!'( o)!t t#! !-!ndit%"!) "!%i"!d to i*-'!*!nt t#! "!&%'ation)-"o-o)!d #!"!ina) ,!'' a) d"( %- t#! )o%"$! o inan$ia' "!)o%"$!)avai'ab'! to $"i*ina') t#at !*-'o( )%$# 'a%nd!"in& ta$ti$).2?

III. T:7=ROB87MD7>IN7D T:7N75ORKCIT5M7TRO=O8ITANAR7AASACAS7STD5

T#! di!"!n$! in "!&%'ation o t#! "!tai' and $o**!"$ia' $#!$k $a)#!")in N!, 5o"k #a) E$"!at!d a void in t#! )%-!"vi)ion o $a)# t"an)a$tion) and#a) -"ovid!d an o--o"t%nit( o" t#! %n)$"%-%'o%) to $o**it ta !va)ionGand !nFo( an %nt"a$!ab'! $a)# #oa"d.26R!tai' $#!$k $a)#!") a"! bo%nd b( a6000 $a- on $#!$k) t#!( a"! ab'! to $a)#+ ,#i'! no )%$# $a- !i)t) o"$o**!"$ia' $#!$k $a)#!").2#i'! $#!$k $a)#!") a"! "!%i"!d to i'! CTR"!-o"t)+ int!"*!dia"i!) a"! not+ -"ovidin& t#!* ,it# a*-'! o--o"t%nit( to)t"%$t%"! #%&! )%*) o *on!(.2In )o*! $a)!)+ t#! $o*-an( ,i'' b"in& a$#!$k ,it#o%t an !ndo")!*!nt+ )o t#! $#!$k $a)#!" #i*)!' ,i'' !ndo")! t#!$#!$k.2

In N!, 5o"k Cit( a'on!+ t#! inan$ia' $on)!%!n$!) o $#!$k $a)#in&a"! )ta&&!"in&. T#! a*o%nt o $a)# t#at t#! $%)to*!") &!n!"at! t#"o%

t#!)! $#!$k $a)#in& a$tiviti!) va"i!). A) d!tai'!d o" t#! 9"and T:79RAND


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200H C)EC* CAS)IN+ RE+,LATION 3Cit(/N!, 5o"k Stat! )a'!) ta+ N!, 5o"k Stat! "an$#i)! ta+ N!, 5o"kCit( &!n!"a' $o"-o"ation ta+ N!, 5o"k Cit(/N!, 5o"k Stat! ,a&!,it##o'din& ta+ and N!, 5o"k Cit(/N!, 5o"k Stat! -!")ona' in$o*!ta.G31

Ta !-!"t) $'o)!'( !a*in!d t#! inan$ia' a$tiviti!) o !it!!n$%)to*!") o" t#! -%"-o)!) o t#! ao"!*!ntion!d 9"and ina''(+

9!"a'd Ni*b!"& -'!d &%i't( to %)%"( o" $#a"&in& !$!))iv! int!"!)t+ and #i) $#!$k $a)#in&

$o*-an( -'!d &%i't( to *on!( 'a%nd!"in& $#a"&!). Id.


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40 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21D!t!""!n$! va'%! "!*ain) 'o, ,it# an individ%a'i!d )$#!*! and b%"d!n!d-"o)!$%to") #av! n!it#!" t#! ti*!+ no" "!)o%"$!)+ to inv!)ti&at! t#!)ta&&!"in& n%*b!" o $a)!) individ%a''(. S()t!*i$+ !d!"a' "!&%'ato"($#an&!) *%)t b! i*-'!*!nt!d to atta$k t#i) !!$tiv!'( and b!&in *akin&

t#!)! i''i$it t"an)a$tion) vi)ib'! and v%'n!"ab'! to 'a, !no"$!*!nt. T#i)-"ob'!* *a( b! i''%)t"at!d t#"o% a b"i! o%t'in! o -"!vio%)'( -"o)!$%t!d$a)!).

A. Cit( C#!$k Ca)#in&

A 'i)t o t#! *%'ti-'! inv!)ti&ation) and -"o)!$%tion) )#o, t#! "a-id'(in$"!a)in& $"i*! ,av! a))o$iat!d ,it# $#!$k $a)#in&. On S!-t!*b!" ?+2003+ Rob!"t Santo"o+ o,n!" and o-!"ato" o Cit( C#!$k Ca)#in& in

EOn Nov!*b!" 1+ 2002+ Santo"oH ,a) $onvi$t!d at t"ia' o *on!('a%nd!"in& o" t#! 9!nov!)! $"i*! a*i'(.G41 ESanto"oHJ) "o'! ,a) to"!$!iv! ,i"! t"an)!") tota'in& ov!" 120+000 . . . and $"!at! a')!-a-!",o"k to #id! t#! 9!nov!)!G $"i*! )(ndi$at!J) -a"ti$i-ation in t#!)!d!a'in&).42

N!it#!" )$#!*! $o%'d #av! b!!n -!"-!t"at!d ,it#o%t t#! a))i)tan$! o an%n)$"%-%'o%) $#!$k $a)#!"+ ,#o ,a) ,i''in& to a')i( do$%*!nt) and$"!at! an invi)ib'! t"ai' o *on!(. T#! $#!$k $a)#!" ,a) t#! k!( to t#i)

i''!&a' t"an)a$tion%n$on)t"ain!d b( an( "!&%'ato"( )()t!* t#at bind) a''ot#!" inan$ia' in)tit%tion) in t#! nit!d Stat!).

1B. ="o)!$%tion o t#! S$a'a*and"! B"ot#!")

An inv!)ti&ation into n%*!"o%) b%)in!))!) invo'vin& $on)t"%$tion+ "!a'!)tat!+ $on)t"%$tion !%i-*!nt+ and $on)t"%$tion )%--'(+ o,n!d b( >"!dand


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200H C)EC* CAS)IN+ RE+,LATION 41"!v!a'!d t#at a')! invoi$!) ,!"! %)!d to &!n!"at! a vi"t%a''( %nt"a$!ab'!$a)# #oa"d to %nd ann%a' -a(o) to t#! 8%$#!)! $"i*! )(ndi$at! andot#!").44In ,nited States -. Lee+ a ,#o'!)a'! i)# )!''!" a$t!d a) a $a)#i!"o" S$a'a*and"! $#!$k) and %nn!'!d a -o"tion o t#! %nd) ba$k to

S$a'a*and"! t#"o% a S$a'a*and"! )%b$ont"a$to".

4?

>%"t#!"+ t#!S$a'a*and"!) -'!d &%i't( to d!v!'o-in& and -a"ti$i-atin& in a ta "a%d)$#!*! b!t,!!n 12 and 1.46D%"in& t#i) ti*! Et#!( i))%!d n!a"'( on!*i''ion do''a") in $o"-o"at! $#!$k) to t#!i" )%b$ont"a$to") in -a(*!nt o"a%d%'!nt invoi$!) &!n!"at!d b( t#! )%b$ont"a$to") at t#! S$a'a*and"!)Jdi"!$tion.G4T#! )%b$ont"a$to") %)!d i''!&a' $#!$k $a)#!") to $onv!"t t#!$o"-o"at! $#!$k) to $a)# and t#!n "!t%"n!d t#! $a)# to t#! S$a'a*and"!).4

C. ="o)!$%tion o Ri$#a"d A'b!"t

On Nov!*b!" 16+ 1+ Ri$#a"d A'b!"t -'!d &%i't( to $on)-i"a$( toi*-ai"+ i*-!d!+ ob)t"%$t and d!!at t#! 'a,%' &ov!"n*!nt %n$tion) o t#!Int!"na' R!v!n%! S!"vi$! IRS in t#! a)$!"tain*!nt+ $o*-%tation+

a))!))*!nt and $o''!$tion o !d!"a' in$o*! ta!) in vio'ation o 1 .S.C.P 31.4 A--"oi*at!'( 2?3+000 in %nd) )!i!d "o* A'b!"t ,!"! a')oo"!it!d in a )!-a"at! a$tion.?0

A'b!"t o-!"at!d an i''!&a' $#!$k $a)#in& b%)in!)) in %!!n)+ N!, 5o"k+,#i$# -!"*itt!d b%)in!))!) and individ%a') to #id! in$o*! "o* t#! IRSand -a( i''!&a' ki$kba$k).?1 A'b!"t a""an&!d to $a)# $o"-o"at! and t#i"d-a"t( $#!$k) d!'iv!"!d to #i* o" a !!+ %)%a''( a -!"$!nta&! o t#! a$!a*o%nt o t#! $#!$k.?2A'b!"t ,o%'d t#!n d!-o)it t#! $#!$k) #! $o''!$t!dt#"o% a =#i'ad!'-#ia $#!$k $a)#!"J) bank a$$o%nt. T#i) -!"*itt!d A'b!"tto a))i)t #i) $%)to*!") in avoidin& i'in& an( "!%i"!d CTR).?3

:!"!+ $#!$k $a)#!") ,!"! an int!&"a' -a"t o an o-!"ation to d!"a%d t#!!d!"a'+ )tat!+ and $it( &ov!"n*!nt).?4 A'b!"t+ a*on& ot#!")+ )!"v!d a) a

$#!$k $a)#!" "o* ,#i$# b%)in!)) -"in$i-a') ,o%'d obtain %nt"a$!ab'! $a)##oa"d)+ and "o* ,#i$# $ont"a$to") and .S. D!-a"t*!nt o :o%)in& and

in 7$#an&! o" 8abo" =!a$!+ .S. D!-Jt o 8abo"+ Oi$! o In)-!$to" 9!n!"a' Nov. 14+

2001+ #tt-@//,,,.oi&.do'.&ov/-%b'i$/*!dia/)$a'a*and"!.#t*' #!"!inat!" S$a'a*and"!

B"ot#!")H.44 . Id.4? . No. C". 0 7.D.N.5. i'!d


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42 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21"ban D!v!'o-*!nt :D b%i'din& *ana&!") ,!"! &iv!n ki$kba$k).??

B%t o" t#! avai'abi'it( o i''!&a' $#!$k $a)#!")+ )%$# a) A'b!"t+ t#! $a-ita'n!!d!d o" t#! ki$kba$k) ,o%'d not #av! b!!n avai'ab'!. St!**in& "o*t#! A'b!"t $a)!+ ov!" )!v!nt( b%i'din& *ana&!") and $ont"a$to") ,!"!

$#a"&!d ,it# )tat! and !d!"a' o!n)!).

?6

1D. ="o)!$%tion o .R. P 103.41 2006.


9/20


200H C)EC* CAS)IN+ RE+,LATION 43)%$# a "!-o"t.6?C%""!nt CTR "!%i"!*!nt) on'( &!n!"at! t#! i'in& o aCTR o" $a)# t"an)a$tion) ov!" 10+000.66T#i) #i do''a" a*o%nt a''o,)o" t#! -"o'i!"ation o *oni!) invo'v!d in )t"%$t%"in& to )'i- t#"o% t#!)()t!* and "!*ain invi)ib'!+ )in$! no "!-o"t i) i'!d.

Stat!ba)!d '!&i)'ativ! o" "!&%'ato"( "!)-on)!) to t#! -"ob'!* o%t'in!dabov! *a( on'( i*-"ov! t#! "!)-on)!; a *o"! !!$tiv! )o'%tion ,o%'d b!to a--"oa$# t#i) -"ob'!* t#"o% t#! !d!"a' &ov!"n*!nt+ ,#!"! int!")tat!ov!")it and !d!"a' a&!n$( "!)o%"$!) a"! avai'ab'!. In o"d!" to -"!v!ntt#i"d-a"t( $#!$k) "o* div!"tin& $a)# to t#! %nd!"&"o%nd !$ono*(+ t#!-a-!" t"ai' *%)t not b! )!v!"!d ,#!n it "!a$#!) t#! $#!$k $a)#!". A &!n!"a'K5C "%'! )#o%'d "!%i"! $#!$k $a)#!") to 'i)t t#! na*! o t#! $%)to*!" ont#! $#!$k+ to *ak! t#! b!n!i$ia"( vi)ib'! and to kno, ,#o i) a$t%a''("!$!ivin& t#! -"oit. D!*andin& a na*!+ and not F%)t an !'%)iv! t#i"d-a"t($o*-an( on t#! $#!$k+ ,i'' a''o, t#! -a-!" t"ai' to -!")i)t and -"!v!nt t#!ob)t"%$tion o $a)# "o* 'a, !no"$!*!nt.

>ina''(+ t#! $%""!nt )t"%$t%"! o" SAR "!%i"!*!nt) '!av!) a )a! #av!no" $"i*ina') to 'a%nd!" *on!( t#"o% $#!$k $a)#!") ,it#o%t t#! $#!$k$a)#!" b!in& %nd!" an ai"*ativ! '!&a' d%t( to i'! an SAR in t#! !v!nt t#att#! t"an)a$tion ,a) d!!*!d to b! )%)-i$io%). T#%)+ t#! D!-a"t*!nt o t#!T"!a)%"(+ ,it#in it) a--'i$ab'! -o,!"+ )#o%'d a*!nd t#! SAR "!%i"!*!ntto b"in& $#!$k $a)#!") ,it#in t#! $'a)) o !ntiti!) "!%i"!d to i'! SAR)%-on "!a)onab'! )%)-i$ion.

. 1A R798ATOR5R7S=ONS7

D!)-it! a )tat%to"( and "!&%'ato"( "!)-on)! to *on!( 'a%nd!"in& t#at)-an) *o"! t#an t#"!! d!$ad!)+6t#!"! i) a )t"%$t%"a' &a- t#at a''o,) a )a!#av!n to !i)t ,#!"!b( $"i*ina') *a( 'a%nd!" *on!( t#"o% %n"!&%'at!d$#!$k $a)#!").6C"i*ina') *a( !vad! ta!)+ &ain an %nt"a$!ab'! $a)# #oa"d

to %'i'' i''i$it !nd)+ )!v!" a -a-!" t"ai'+ and i*-!d! inv!)ti&ation).

6

T#!"!&%'ato"( &a- t#at -!"*it) a inan$ia' )a! #av!n to !i)t and -"!v!nt)

6? . MON75 S7RIC7S BSIN7SS+ .S. D7=JT O> TR7ASR5+ SS=ICIOS ACTIIT5

R7=ORTIN9 200+ #tt-@//,,,.*)b.&ov/*)b/ind!.#t*'; see also in$#a not! 0 o%t'inin&

t#! va"io%) SAR "!&%'ation) a) a--'i$ab'! to a'' non$#!$k $a)#in& inan$ia' in)tit%tion).66 . R!-o"t) o T"an)a$tion) in C%""!n$(+ 31 C.>.R. P 103.22 2000.6 . In 10+ Con&"!)) -a))!d t#! C%""!n$( and >o"!i&n T"an)a$tion) R!-o"tin& A$t+

$o**on'( kno,n a) t#! Bank S!$"!$( A$t o 10+ =%b. 8. No. 1?0 a) a*!nd!d+

$odii!d at 12 .S.C. PP 12b+ 1?1? 2000+ and 31 .S.C. PP ?311?330 2002

#!"!inat!" Bank S!$"!$( A$t o 10H. T#!n+ Con&"!)) -a))!d t#! Mon!( 8a%nd!"in&

Cont"o' A$t o 16+ Mon!( 8a%nd!"in& Cont"o' A$t =%b. 8. No. ?0 16. >ina''(+

Con&"!)) -a))!d t#! Ann%nio('i! AntiMon!( 8a%nd!"in& A$t+ Ann%nio('i! Anti

Mon!( 8a%nd!"in& A$t =%b. 8. No. 102??0+ $odii!d at 31 .S.C. P ?31 12. See

also C%''a"+sup#a not! 2+ at 3?2364 -"ovidin& a #i)to"i$a' o%t'in! o t#! )tat%to"( andad*ini)t"ativ! "!)-on)! to *on!( 'a%nd!"in& )in$! 10.6 . See sup#a =a"t) II and III.6 . See sup#a =a"t) II and III.


10/20


44 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21'iabi'it( o" i''i$it $#!$k $a)#in& *%)t b! $'o)!d.

To i*-'!*!nt t#i)+ a t#"!!-"on&!d "!&%'ation )#o%'d b! ado-t!d b( t#!>inan$ia' C"i*!) 7no"$!*!nt N!t,o"k >inC7N o t#! D!-a"t*!nt o t#!T"!a)%"(@ 1 t#! a--'i$ab'! "!&%'ation) )#o%'d b! a*!nd!d to "!%i"! t#at

$#!$k $a)#!") i'! SAR); 2 a 9!o&"a-#i$ Ta"&!tin& O"d!" 9TO )#o%'db! ado-t!d o" t#! N!, 5o"k Cit( *!t"o-o'itan a"!a+ 'o,!"in& t#! CTRt#"!)#o'd "o* 10+000 to 3000; and 3 a K5C "!%i"!*!nt )#o%'d b!i*-o)!d %-on $#!$k $a)#!")+ a) it i) o" a'*o)t a'' ot#!" inan$ia'in)tit%tion).1

A. T#! D!-a"t*!nt o t#! T"!a)%"( S#o%'d A*!nd t#! R!&%'ation)and R!%i"! C#!$k Ca)#!") To >i'! SAR)

A'*o)t a'' inan$ia' in)tit%tion) o" )i*i'a"'( )it%at!d *on!ta"(in)tit%tion) a"! "!%i"!d to i'! SAR).0C#!$k $a)#!") a"! an !$!-tion tot#! "%'!.1T#! obvio%) "!)%'t i) a "!&%'ato"( va$%%* )%""o%ndin& $#!$k$a)#!")+ ,#i$# $"!at!) a #i'( -!"*i))iv! !nvi"on*!nton! "i! ,it#

i''i$it a$tiviti!) t#at "!*ain %n"!$o"d!d.2

T#i) i) an i*-o"tant *!an) o"$"i*ina') to %"t#!" t#!i" $"i*ina' !nt!"-"i)!)+ and in t#! ,o"d) o >inC7N

0 . 31 .S.C. P ?31& 2000 L S%--. 2004 SAR "!%i"!*!nt); 31 C.>.R.

P 103.131 2003 *%t%a' %nd); 31 C.>.R. P 103.122b2D 2003 b"ok!"d!a'!") in

)!$%"iti!); 31 C.>.R. P 103.123b2D 2003 %t%"!) $o**i))ion *!"$#ant) and

int"od%$in& b"ok!"); 31 C.>.R. P 103.121b2D 2003 $"!dit %nion)+ $!"tain non

!d!"a''( "!&%'at!d bank); 31 C.>.R. P 103.20 2003 *on!( )!"vi$!) b%)in!))!)+ a')o

!!*-tin& $#!$k $a)#!"); 31 C.>.R. P 103.1 2003 )!$%"iti!) and %t%"!) ind%)t"(; 31

C.>.R. P 103.1 2002 b"ok!") o" d!a'!") in )!$%"iti!); 31 C.>.R. P 103.21b2C

2002 $a)ino); 31 C.>.R. P 103.1 2000 bank). See gene#all"+ Kat#'!!n A. 8a$!( L

Ba"ba"a C"%t$#i!'d 9!o"&!+ C#ac%do!n on Mone" Launde#ing& A Compa#ati-e Anal"sis o$

the Feasi4ilit" and E$$ecti-eness o$ Domestic and Multilate#al 3olic" Re$o#ms + 23 N. .R. P 103.20a1 2003 $'!a"'( !$'%d!) $#!$k $a)#!")+ d!)$"ib!d in 31

C.>.R. P 103.11%%2 2003 "o* a''in& ,it#in t#! a*bit o t#! SAR i'in& "!%i"!*!nt@

7v!"( *on!( )!"vi$!) b%)in!))+ d!)$"ib!d in PP 103.11%% 1+ 3+ 4+ ?+ o"

6+ )#a'' i'! ,it# t#! T"!a)%"( D!-a"t*!nt+ to t#! !t!nt and in t#! *ann!"

"!%i"!d b( t#i) )!$tion+ a "!-o"t o an( )%)-i$io%) t"an)a$tion "!'!vant to a

-o))ib'! vio'ation o 'a, o" "!&%'ation. An( *on!( )!"vi$!) b%)in!)) *a( a')o i'!

,it# t#! T"!a)%"( D!-a"t*!nt+ b( %)in& t#! o"* )-!$ii!d in -a"a&"a-# b1 o

t#i) )!$tion+ o" ot#!",i)!+ a "!-o"t o an( )%)-i$io%) t"an)a$tion t#at it b!'i!v!) i)

"!'!vant to t#! -o))ib'! vio'ation o an( 'a, o" "!&%'ation b%t ,#o)! "!-o"tin& i)

not "!%i"!d b( t#i) )!$tion.

Id.;see sup#a=a"t II and III o" d!tai'!d a$$o%nt o va"io%) o"*) $#!$k $a)#!") #av! %)!d

a) a *!an) to !!$t ta !va)ion and o"&ani!d $"i*!.2 . 8!tt!" "o* i''ia* >. Bait(+ D!-%t( Di".+ >in. C"i*!) 7no"$!*!nt N!t,o"k+

D!-Jt o t#! T"!a)%"(+ to Davi M. DJA&o)tino+ Di".+ >in. Mkt. and C*t(. Inv.+ .S. 9!n.

A$$o%ntin& Oi$! Ma". + 2001+ #ep#inted in .S. 97N. ACCONTIN9 O>>IC7+ MON75

8AND7RIN9@ O7RSI9:T O> SS=ICIOS ACTIIT5 R7=ORTIN9 AT BANKA>>I8IAT7D

BROK7RD7A87RS16 2001+ #tt-@//,,,.&ao.&ov/n!,.it!*)/d0144.-d.


11/20


200H C)EC* CAS)IN+ RE+,LATION 4?D!-%t( Di"!$to" i''ia* >. Bait(+ E$on)i)t!nt a--'i$ation o )%)-i$io%)t"an)a$tion "!-o"tin& "%'!) to )i*i'a"'( )it%at!d in)tit%tion)G i) a $"%$ia'obF!$tiv!.3

C%""!nt'(+ and !v!n *o"! )o )in$! t#! -a))a&! o t#! SA =ATRIOT

A$t+

4

t#! 9ov!"n*!nt #a) tak!n )%b)tantia' )t!-) to "oot o%t *on!('a%nd!"in& t#"o% an !n#an$!d "!&%'ato"( )$#!*!.? Sin$! 16+d!-o)ito"( in)tit%tion) a"! "!%i"!d to i'! SAR).6 nd!" t#! SA=ATRIOT A$t+ t#! SAR "!%i"!*!nt #a) b!!n !t!nd!d to )!$%"iti!)b"ok!") and d!a'!"); )%b)!%!nt'( -"o*%'&at!d ad*ini)t"ativ! "%'!) b( t#!D!-a"t*!nt o t#! T"!a)%"( #av! %"t#!" !t!nd!d t#! "!%i"!*!nt to$a)ino) and Mon!( S!"vi$!) B%)in!))!) MSB)+ in$'%din& *on!(!$#an&!")+ )!''!") o t"av!'!"J) $#!$k)+ and *on!( t"an)*itt!").

:o,!v!"+ t#i) #(-!""!&%'at!d )$#!*! o*it) $#!$k $a)#!")+ '!adin& to ano-!nin& o" $"i*ina' $ond%$t to o$$%" %nd!t!$t!d.

A't#o% t#! D!-a"t*!nt o t#! T"!a)%"( and >inC7N #av! $'!a"'(*aintain!d a di'i&!nt o$%) on *on!( 'a%nd!"in& a) a *!an) to !!$to"&ani!d $"i*!+ d"%& t"ai$kin&+ and t!""o"i)*+t#! "!&%'ation) in !!$t$%""!nt'( !$'%d! $#!$k $a)#!").T#! "!)%'t i) a )a! #av!n "o* $"i*ina'and $ivi' 'iabi'it( o" t#o)! ,#o !*-'o( $#!$k $a)#!")J )!"vi$!) to $a""( o%tt#! ao"!*!ntion!d $"i*ina' $ond%$t. T#i) #a) not a''!n on d!a !a"),it#in t#! $"i*ina' $o**%nit(+ b! it a*on& d"%& t"ai$k!")+ t!""o"i)t)+0o"

3 . Id.4 . nitin& and St"!n&t#!nin& A*!"i$a b( ="ovidin& A--"o-"iat! Too') R!%i"!d to

Int!"$!-t and Ob)t"%$t T!""o"i)* A$t o 2001 SA =ATRIOT A$t+ =%b. 8. No. 10?6+

11? Stat. 22 2001.? . C%''a"+sup#anot! 2+ at 42633 o%t'inin& t#! *("iad "!%i"!*!nt) i*-o)!d %-on

inan$ia' in)tit%tion) in a #(-!""!&%'at!d ad*ini)t"ativ! )$#!*!.6 . D7=JTO>STAT7BR7AO>INTJ8NARCOTICSL 8A7N>ORC7M7NTA>>AIRS+

INT7RNATIONA8 NARCOTICS CONTRO8 STRAT795 R7=ORT 2003 2004+ #tt-@//,,,.)tat!.&ov/-/in'/"')/n"$"-t/2003/ #!"!inat!" 2003 INCSRH; seealso 31 .S.C. P ?31& 2004

SAR "!%i"!*!nt) a) a*!nd!d;D7=JTO>STAT7+ BR7AO>INTJ8NARCOTICSL 8A

7N>ORC7M7NT A>>AIRS+ INT7RNATIONA8 NARCOTICS CONTRO8 STRAT795 R7=ORT 200

200+ #tt-@,,,.)tat!.&ov/do$%*!nt)/o"&aniation)/144.-d #!"!inat!" 200 INCSRH;

sup#a =a"t II o%t'inin& va"io%) nationba)!d SAR "!%i"!*!nt)+ and $o*-'ian$! i))%!)

t#!"!,it#. . 2003 INCSR+sup#a not! 6. . Id.at tb'.1 o%t'inin& t#! SAR i'in&) o" t#! (!a") 12003 b"ok!n do,n b(

t(-! o vio'ation; see also >IN. CRIM7S 7N>ORC7M7NT N7TORK+ >INC7N STRAT79IC

=8AN >OR T:7 >ISCA8 57ARS 2003200 2003+

#tt-@//,,,.in$!n.&ov/)t"at!&i$-'an2003200. -d. . See 31 C.>.R. P 103.20; see also .S. D7=JT O> TR7ASR5+ T:7 NATIONA8

MON75 8AND7RIN9 STRAT795 >OR 2000+ at 103 2000+

#tt-@//,,,.%)t"!a).&ov/-"!))"!'!a)!) /do$)/*'2000.-d. D!)-it! b!in& ov!" !it (!a") o'd+

t#i) i) t#! *o)t "!$!nt )t"at!&( )tat!*!nt o t#! T"!a)%"( D!-a"t*!ntJ) a--"oa$# to

$o*batin& *on!( 'a%nd!"in&.0 . A*itab# A&a",a'+ Ada* 9%)*an L


12/20


46 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21ot#!") ,#o !*-'o( *on!( 'a%nd!"in&.1 S$#o'a") #av! not!d t#at+EdH!)-it! t#! %nd!"$ov!" inv!)ti&ation)+ ino"*ant)+ and %)! o "!&%'ato"("!-o"t)+ inv!)ti&ato") )!i! '!)) t#an 1 bi''ion a (!a" in t#! b!)t o (!a")+,#i'! !v!n t#! 'o,!)t !)ti*at!) o t#! -"oit) o d"%& t"ai$kin& a'on!

!$!!d ?0 bi''ion.G

2

On! o >inC7NJ) &oa') i) to E$o*bat t#! inan$ia'a)-!$t) o $"i*ina' a$tivit( ,o"'d,id!+G3 and t#! -"o-o)!d "!&%'ation,o%'d %"t#!" t#at &oa'.

T#!"! i) an int!"nationa' -a"a''!' o" t#! $o*-'!t! "!&%'ato"( $ov!"a&!b!in& )o%t t#"o% t#!)! -"o-o)!d "!&%'ation). In t#! nit!d Kin&do*+t#!"! i) a )()t!* in -'a$! )i*i'a" to t#! .S. SAR "!%i"!*!nt+ !$!-t t#atit a--'i!) to a'' t"an)a$tion) in $%""!n$( o" ot#!" va'%ab'! in)t"%*!nt)+i""!)-!$tiv! o t#! *!t#od o t"an)!"+ t#! -'a$! o t"an)!"+ o" t#! -a"ti!) tot#! t"an)!"+ i t#! t"an)a$tion invo'v!) *o"! t#an U10+000 o" ,#!"!di!"!nt Et"an)a$tion) t#at a--!a" $onn!$t!d add %- to *o"! t#anU10+000.G4In 'it o t#! B"iti)# "!&%'ation+ and t#! $"i*ina')J !-'oitationo t#! "!&%'ato"( &a- o%t'in!d in S!$tion I+ t#!"! i) 'itt'! "!a)on to '!av! an!$!-tion o" $#!$k $a)#!").

It i) !vid!nt t#at t#! 'a$k o !no"$!*!nt and inv!)ti&ato"( too') ,it#"!&a"d to $#!$k $a)#!") -"ovid!) a "!! -a)) to $"i*ina') t#at *%)t b!$'o)!d. To do t#i)+ $#!$k $a)#!") )#o%'d b! b"o%t ,it#in t#! o'd o t#!SAR )()t!* and t#! CTR t#"!)#o'd )#o%'d b! 'o,!"!d to 3000 and abov!$a)#!d -!" da(+ -!" -!")on+ t#"o% a 9TO+ o" )-!$ii!d ta"&!t!d a"!a)+)%$# a) t#! N!, 5o"k Cit( *!t"o-o'itan a"!a.?

T#i) ,i'' in$"!a)! t#! n!t "!%!n$( o $#!$k) $a)#!d+ and %-on t#!"!%i"!d CTR i'in&+ -att!"n) o $"i*ina' $ond%$t ,i'' b!$o*! *o"!!vid!nt. Mo"! i*-o"tant'(+ t#! 9TO i) in 'in! ,it# on! o t#! t,o *aFo"-%"-o)!) o t#! "!&%'ato"( )$#!*! -"o*%'&at!d %nd!" t#! Bank S!$"!$(A$t@ Ed"ivin& a ,!d&! b!t,!!n inan$ia' in)tit%tion) and $%)to*!") t"(in&to 'a%nd!" *on!(.G6>ina''(+ it i) $'!a" t#at >inC7N #a) t#! F%"i)di$tiona'

AM. CRIM. 8. R7. 63+ 6???6 2003.1 . See gene#all"sup#a=a"t) II+ III.2 . C%''a"+sup#anot! 2+ at 43+ n.442+ 441.3 . >IN. CRIM7S7N>ORC7M7NTN7TORK+ .S. D7=JTO>T:7TR7ASR5+ >INC7N

STRAT79IC =8AN >OR T:7 >ISCA8 57ARS2003200 3 2003+ #tt-@//,,,.>in$!n.&ov/

)t"at!&i$-'an2003200.-d.4 . Kat"ina R. Ab!ndano+ Legislati-e Re$o#m5 The Role o$ La!"e#s in the Fight

Against Mone" Launde#ing& Is a Repo#ting Re6ui#ement App#op#iate7 + 2


13/20


200H C)EC* CAS)IN+ RE+,LATION 4$o*-!t!n$! to -"o-!"'( i*-'!*!nt )%$# a "!&%'ation+ #avin& Et#! %ni%!$a-abi'it( to id!nti( t"!nd) and -att!"n) and to -in-oint )i$H nationa''!v!' )!$%"it( i))%!); di))!*inat! ino"*ation on *on!( 'a%nd!"in&*!t#odo'o&i!); and -"!-a"! &!o&"a-#i$ t#"!at a))!))*!nt) a))o$iat!d ,it#

*on!( 'a%nd!"in& and ot#!" inan$ia' $"i*!).G

B. 1T#! D!-a"t*!nt o t#! T"!a)%"( S#o%'d A--"ov! a 9!o&"a-#i$Ta"&!tin& O"d!" o" t#! N!, 5o"k Cit( M!t"o-o'itan A"!aR!d%$in& t#! C%""!n$( T"an)a$tion) R!-o"t Mon!ta"( T#"!)#o'd

It i) !vid!nt t#at t#! N!, 5o"k Cit( *!t"o-o'itan &!o&"a-#i$ a"!a#o%)!) t#! &"!at!)t -ot!ntia' o" t#! int!"di$tion o i''!&a' $a)# -"o$!!dt"an)a$tion).In$"!a)!d "!%!n$( o CTR i'in&) ,i'' 'ik!'( "!v!a' a &"!ata*o%nt o i''!&a' )t"%$t%"in& and noni'in& o CTR). A d!inition o")%$# an a"!a i)+ #o,!v!"+ !'%)iv!. T#!"! a"! )o*! -"!$!d!nt) o" t#!d!inition o a N!, 5o"k Cit( *!t"o-o'itan a"!a+ invo'vin& )i*i'a" )%bF!$t*att!") and &oa') o ,#at i) -"o-o)!d #!"!in.

T#! #it! :o%)! Oi$! o Nationa' D"%& Cont"o' =o'i$( ONDC=d!v!'o-!d a N!, 5o"k/N!,

an%ing 8 Cu##enc"+ 1)t Con&. 2d S!)). 10. . S7CR7TAR5 O> T:7 TR7ASR5+ D7=JT O> T:7 TR7ASR5+ A R7=ORT TO

CON9R7SS INACCORDANC7IT:P 3? O>T:7NITIN9ANDSTR7N9T:7NIN9AM7RICA

B5=ROIDIN9A==RO=RIAT7TOO8SR7IR7DTOINT7RC7=TANDOBSTRCTT7RRORISM

ACTO>2001 SA =ATRIOT ACT 10 2002. See alsoO'iv!" I"!'and L Ra$#!' :o,!''+

The Fea# Facto#& 3#i-ac"5 Fea#5 and the Changing )egemon" o$ the Ame#ican 3eople and

the Right to 3#i-ac"+ 2 N.C.

,#it!#o%)!d"%&-o'i$(.&ov/#idta/n!,(o"kn!,F!")!(.#t*'; 21 .S.C. P 106b1 !)t

200 ET#! Di"!$to"+ in $on)%'tation ,it# t#! Atto"n!( 9!n!"a'+ t#! S!$"!ta"( o t#!

T"!a)%"(+ t#! S!$"!ta"( o :o*!'and S!$%"it(+ #!ad) o t#! Nationa' D"%& Cont"o' ="o&"a*

a&!n$i!)+ and t#! 9ov!"no" o !a$# a--'i$ab'! Stat!+ *a( d!)i&nat! an( )-!$ii!d a"!a o t#!

nit!d Stat!) a) a #i int!n)it( d"%& t"ai$kin& a"!a.G.


14/20


4 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21Si*i'a"'(+ t#! :i Ri)k Mon!( 8a%nd!"in& and R!'at!d >inan$ia'

C"i*!) A"!a :I>CA i) a -"o&"a* d!)i&n!d to $on$!nt"at! va"io%) 'a,!no"$!*!nt !o"t) at d!)i&nat!d #iint!n)it(*on!( 'a%nd!"in& on!).2

R!$o&niin& t#at t#! N!, 5o"k Cit( *!t"o-o'itan a"!a ,a) a #iint!n)it(

*on!( 'a%nd!"in& a"!a+ :I>CA d!)i&nation ,a) &"ant!d at t#!i*-'!*!ntation o t#! -"o&"a* in o"d!" to !n#an$! $oo-!"ation and$o**%ni$ation a*on& a&!n$i!).31T#! $o%nti!) in$'%d!d in t#! N!, 5o"kCit( *!t"o-o'itan a"!a :I>CA a"! t#! )a*! a) in t#! N!, 5o"k/N!,CA i) t#! 7' Do"adoTa)k >o"$!+ t#! 'a"&!)t and *o)t )%$$!))%' anti*on!( 'a%nd!"in&initiativ! in t#! .S.+ ,it# ov!" t,o #%nd"!d inv!)ti&ato") "o* t,!nt(a&!n$i!).?

>o" t#! -%"-o)!) o $o*batin& *on!( 'a%nd!"in&+ t#! :IDTA and:I>CA -"o&"a*) )tand a) t#! $'o)!)t -a"a''!') to t#! a"!a o $"i*ina'$ond%$t in t!"*) o bot# d!-t# and b"!adt#. A) )%$#+ t#! N!, 5o"k/N!,CA.6>o" t#!)! "!a)on)+ )%$# a 9TO)#o%'d !n$o*-a)) t#! $o%nti!) in$'%d!d in t#! N!, 5o"k/N!,

P ?341b 1; :iRi)k Mon!( 8a%nd!"in& and R!'at!d >inan$ia' C"i*! A"!a)+ 31

.S.C. P ?342b 1.4 . Sup#at!t a$$o*-an(in& not! 1.? . .S. I**i&"ation L C%)to*) 7no"$!*!nt+ #tt-@//,,,.i$!.&ov/-i/$o"n!")ton!/

ta)ko"$!/!'do"ado.#t*+ 'a)t vi)it!d Ma". ?+ 200 di)$%))in& 7' Do"ado.6 . See gene#all" sup#a=a"t) II and III. . Bank S!$"!$( A$t o 10+ =%b. 8. No. 1?0 a) a*!nd!d+ $odii!d at 12 .S.C.

PP 12b+ 1?1? 2000+ and 31 .S.C. PP ?311?330 2002+ )-!$ii$a''( 31 .S.C. P

?31' S%--. 200; see also 8an Cao+ The T#ansnational and Su49National in +lo4al

C#imes+ 22 B7RK7875


15/20


200H C)EC* CAS)IN+ RE+,LATION 4b"!adt# o SAR "!&%'ation) %nd!" t#! SA =ATRIOT A$t+ t#! K5C"!%i"!*!nt) #av! a')o b!!n in$"!a)!d %nd!" t#! SA =ATRIOT A$t.

1T#! K5C "!%i"!*!nt i) *od!'!d at!" R%'! 40? o t#! N!, 5o"k Sto$k7$#an&!+ ,#i$# "!%i"!) Et#! int"od%$in& i"* to %)! d%! di'i&!n$!

,#!n o-!nin& and *aintainin& a'' $%)to*!" a$$o%nt).G

100

T#! "o'! o t#!$#!$k $a)#!")+ t#i"d-a"t( b!n!i$ia"i!)+ and int!"*!dia"i!)+ o%t'in!d in =a"tI+ a"! ana'o&o%) to t#o)! "!&%'at!d -!")on) and !ntiti!) %nd!" N!, 5o"kSto$k 7$#an&! R%'! 40? and t#! SA =ATRIOT A$t.

1>o''o,in& t#! -"o-o)a' o an ind%)t"(,id! K5C "!&%'ation in 1+101

7d,a"d 8. 5in&'in&+ on b!#a' o t#! A*!"i$an Bankin& A))o$iation+

'!&i)'ativ! "!-o"t on t#! BSA. See:.R. R7=. No. 1?+ at 10 "!%i"in& in)%"!d

bank) to k!!- "!$o"d) o t#! id!ntiti!) o $%)to*!") a%t#o"i!d to )i&n $#!$k)+ *ak!

,it#d"a,a')+ o" #av! $ont"o' ov!" t#! a$$o%nt.G. . SA =ATRIOT A$t+ =%b. 8. No. 10?6+ 11? Stat. 22 2001;see alsoMi$#a!'

S. Ba""+an%ing the 3oo#+ 21 5A87 !d!"a' a&!n$i!) "o* a$$!-tin& an(t#in& ot#!" t#an .S.i))%!d

id!ntii$ation+ ,it# t#! &oa' o $ont"o''in& i**i&"ation.G; B"%$! Va&a"i)+ The Me#ging O$

The Anti9Mone" Launde#ing And Counte#9Te##o#ism Financial En$o#cement Regimes A$te#

Septem4e# ''5 :;;'+ 22 B7RK7875i&%"!) a')o kno,n a) =o'iti$a''( 7-o)!d =!")on)+ -"ivat! bankin& $'i!nt); $!"tain

inan$ia' int!"*!dia"i!)+ o"!i&n )#!'' bank)+ o"!i&n $o""!)-ond!nt a$$o%nt)+ a) ,!'' a)

t"an)a$tion) ,it# non$oo-!"ativ! $o%nt"i!) and t!""ito"i!). A't#o% not %it! a) )t"in&!nt

a) t#! !a"'i!" -"o-o)!d "!&%'ation) ,o%'d #av! b!!n+ t#! n!, "!%i"!*!nt) ,!"! )i*i'a" in

*an( "!)-!$t) and ind!!d a"! ot!n "!!""!d to a) WKno, 5o%" C%)to*!"J "%'!).G. See

gene#all" >'!t$#!" N. Ba'd,in+

)o+ t#! id!ntit( o t#o)! o"!i&n bank) and "!'at!d d%! di'i&!n$! ino"*ationJ; see also

>'!t$#!" N. Ba'd,in+


16/20


?0 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21$a''!d o" t#! ,it#d"a,a' o t#! -"o-o)!d "!&%'ation. 102 T#i)+ a'on& ,it#ot#!" $"iti$i)* o t#! K5C "!&%'ation d%"in& t#! -%b'i$ $o**!nt -!"iod+103

doo*!d t#! -"o-o)!d K5C "!%i"!*!nt). :o,!v!"+ in t#! at!"*at# o t#!S!-t!*b!" 11+ 2001 atta$k)+ 5in&'in& $o*-'!t!'( "!v!")!d #i) obF!$tion in

a )tat!*!nt to t#! :o%)! Co**itt!! on >inan$ia' S!"vi$!)+

104

and t#!ind%)t"(,id! "!&%'ation !$!-t o" $#!$k $a)#!") ,a) ado-t!d b( ,a( ot#! SA =ATRIOT A$t.10? nd!" "%'!) -"o*%'&at!d "o* t#! SA=ATRIOT A$t+ bank) *%)t i*-'!*!nt a ,"itt!n $%)to*!" id!ntii$ation-"o&"a* CI=+ to Eo"* a "!a)onab'! b!'i! t#at it kno,) t#! t"%! id!ntit(o !a$# o it) $%)to*!").G1067a$# bank *%)t "!%i"!+ at *ini*%*+ -"io" too-!nin& an a$$o%nt+ t#! individ%a'J)@ 1 na*!; 2 dat! o bi"t#; 3add"!))+ ,#i$# )#a'' b! t#! "!)id!ntia' o" b%)in!)) )t"!!t add"!)) o t#!individ%a'+ o" an A=O o" >=O o" an individ%a' ,it#o%t a "!)id!ntia' o"b%)in!)) )t"!!t add"!))+ o" t#! "!)id!ntia' o" b%)in!)) )t"!!t add"!)) o t#!

"!&%'ation; on t#! )a*! dat!+ t#! Boa"d o 9ov!"no") o t#! >!d!"a' R!)!"v! S()t!*+ t#!

>!d!"a' D!-o)it In)%"an$! Co"-o"ation+ and t#! Oi$! o t#! Co*-t"o''!" o t#! C%""!n$(-"o-o)!d E)%b)tantia''( )i*i'a" "%'!) in )!-a"at!'( -%b'i)#!d noti$!).G 63 >!d. R!&. 6+?36

-"o-o)!d D!$. + 1 ,it#d"a,n Ma". 23+ 1. T#! -"o-o)!d "!&%'ation) ,!"!

,it#d"a,n on Ma"$# 23+ 1. ="!)) R!'!a)!+ >!d!"a' R!)!"v! Boa"d+ it#d"a,a' o

EKno, 5o%" C%)to*!"G R!&%'ation Ma". 23+ 1+ #tt-@//,,,.!d!"a'"!)!"v!.&ov/

boa"ddo$)/-"!))/boa"da$t)/1/10323/.102 . I"!'and L :o,!''+sup#a not! + at 6 n.4? 2004 $itin& 8!tt!" "o* 7d,a"d

8. 5in&'in&+ A*. Bank!")J A))Jn to t#! Bd. o 9ov!"no") o t#! >!d. R!)!"v! S().+ >!d.

D!-o)it In). Co"-.+ Oi$! o t#! Co*-t"o''!" o t#! C%""!n$(+ and t#! Oi$! o T#"it

S%-!"vi)ion !d!"a' R!)!"v! S()t!*+ >!d!"a' D!-o)it In)%"an$!

Co"-o"ation+ Oi$! o t#! Co*-t"o''!" o t#! C%""!n$(+ and t#! Oi$! o T#"itS%-!"vi)ionH #ad "!$!iv!d an %n-"!$!d!nt!d n%*b!" o $o**!nt) tota''( ov!" 2?0+000 to

t#! >DIC a'on! on t#! -"o-o)!d "%'! "o* t#! -%b'i$+ bankin& o"&aniation)+ ind%)t"(

a))o$iation)+ and *!*b!") o Con&"!)).G $itin& *no! 2ou# Custome# Regulations&

)ea#ing e$o#e the ). Su4comm. on Comme#cial and Admin. La!5 ). Comm. on the

/udicia#"5 106t# Con&.1+ a-aila4le at #tt-@//F%di$ia"(.#o%)!.&ov/F%di$ia"(/1063.#t*

)tat!*!nt o R!-. Bob Ba""+ M!*b!"+ :o%)! S%b$o**. on Co**!"$ia' and Ad*in. 8a,

it )#o%'d b! not!d t#at R!-. Ba"" )tat!) t#at ET#! >DIC ino"*!d o%" oi$! t#at n!a"'(

1?0+000 individ%a') #av! $onta$t!d t#! a&!n$( to o--o)! t#! -"o-o)!d "!&%'ation).G.104 . See Dismantling the Financial In$#ast#uctu#e o$ +lo4al Te##o#ism& )ea#ing

e$o#e ). Comm. on Fin. Se#-s.+ 10t# Con&. 16162 2001+ #tt-@//inan$ia')!"vi$!).

#o%)!.&ov/*!dia/-d/1046.-d 'a)t vi)it!d on o"!i&n T"an)a$tion)+ 6

>!d. R!&. 2?+10 Ma( + 2003 to b! $odii!d at 31 C.>.R. P 121b2 200.


17/20


200H C)EC* CAS)IN+ RE+,LATION ?1n!t o kin o" ot#!" $onta$t; o" o" a -!")on ot#!" t#an an individ%a'+ a-"in$i-a' -'a$! o b%)in!))+ 'o$a' oi$! o" ot#!" -#()i$a' 'o$ation; and 4an id!ntii$ation n%*b!"+ ,#i$# )#a'' b! o" a .S. $iti!n+ a ta-a(!"id!ntii$ation n%*b!"+ -a))-o"t n%*b!" and $o%nt"( o i))%an$!+ a'i!n

id!ntii$ation n%*b!" o" n%*b!" and $o%nt"( o i))%an$! o an( ot#!"&ov!"n*!nti))%!d do$%*!nt t#at )#o,) nationa'it( o" "!)id!n$! andb!a"in& a -#oto&"a-# o" )i*i'a" )a!&%a"d.10

T#! K5C "!&%'ation -"o-o)!d #!"! i) $on)i)t!nt ,it# t#! d!v!'o-*!nt))in$! t#! SA =ATRIOT A$t. In a$t+ it *a( b! vi!,!d a) t#! n!t 'o&i$a')t!- to $'o)! t#! "!&%'ato"( &a-) t#at *a( b! !-'oit!d b( $"i*ina') andt!""o"i)t) to %nn!' *on!( to !!$t%at! t#!i" "!)-!$tiv! i''!&a' $ond%$t.Mo"!ov!"+ t#! K5C "!%i"!*!nt ,o%'d in$"!a)! t#! 'ik!'i#ood t#at a -a-!"t"ai' ,o%'d b! !)tab'i)#!d+ b( ,#i$# t#! &ov!"n*!nt $o%'d d!t!$t and-"!v!nt an atta$k b!o"! it #a--!n)+ o" ind and -"o)!$%t! t#o)! ,#oa))i)t!d t!""o"i)t) invo'v!d in an atta$k. T#i) i) a')o t"%! o" t#! -"o-o)!d9TO and SAR "!&%'ation)+ -"!vio%)'( di)$%))!d.10 A't#o% t#! -a't"('!&i)'ativ! #i)to"( o t#! SA =ATRIOT A$t and )%b)!%!nt )$#o'a"'($o**!nta"( #a) not!d t#at t#i) )!$tion o t#! A$t i) ai*!d -"i*a"i'( atha!ala+10o" t#! ino"*a' inan$ia' n!t,o"k -"!do*inant'( o%nd in t#!M%)'i* $%'t%"!; #o,!v!"+ t#! )!$tion ,a) $'!a"'( '!t *o"! b"oad t#ant#at.110T#i) b"oad 'an&%a&! *a(+ and )#o%'d+ b! %)!d to $o*bat t#! *("iad$"i*!) advan$!d b( !*-'o(in& $#!$k $a)#!").

1Int!"nationa''(+ t#!"! a"! "!a)on) to ado-t t#! -"o-o)!d "!&%'ation). T#!>inan$ia' A$tion Ta)k >o"$! on Mon!( 8a%nd!"in& >AT>+ o ,#i$# t#!nit!d Stat!) i) a *!*b!" nation+ 'a() o%t a n%*b!" o &oa') t#at *a(+inte# alia+ b! !a)i'( i*-'!*!nt!d o" $#!$k $a)#!") in t#!i" Fo#t"

10 . 31 C.>.R. P 121b2iA.10

. 31 .S.C. P ?312a2R S%--. I 2002.10 . See. S. D7=JT. O>TR7ASR5+ 2003 NATIONA8MON758AND7RIN9STRAT795

14 2003+ #tt-@//,,,.%)t"!a).&ov/oi$!)/!no"$!*!nt/-%b'i$ation)/*'2003.-d. T#!

)t"at!&( "!-o"t !-'ain) t#! o''o,in&@

T#! ,o"d Wha!alaJ "!!") to a a)t and $o)t!!$tiv! *!t#od o" t#! ,o"'d,id!

"!*ittan$! o *on!( o" va'%!+ -a"ti$%'a"'( o" -!")on) ,#o *a( not #av! "!ad(

a$$!)) to t#! "!&%'at!d inan$ia' )!$to". In ha!ala+ an individ%a' in on! $o%nt"(

&iv!) %nd) to a ha!alab"ok!"+ ,#o notii!) a $o%nt!"-a"t %)%a''( o t#! )a*!

!t!nd!d a*i'( o" !t#ni$ &"o%- in anot#!" $o%nt"(+ to t"an)!" an !%iva'!nt

a*o%nt o *on!( to a "!$i-i!nt to t#at $o%nt"(. T#! t"an)a$tion o$$%") ino"*a''(+

o%t)id! t#! "!&%'at!d inan$ia' )()t!*+ ,it#o%t %)in& inan$ia' in)t"%*!nt) t#at

,o%'d $"!at! a E-a-!" t"ai'.G

Id.at 14 n.3.110 . 31 .S.C. P ?312a2R 2000 L S%--. I 2004 EA 'i$!n)!d )!nd!" o *on!(

o" an" othe# pe#son ,#o !n&a&!) a) a b%)in!)) in t#! t"an)*i))ion o %nd)+ including

th#ough an in$o#mal -alue t#ans$e# 4an%ing s"stem o" n!t,o"k o -!o-'! a$i'itatin& t#!

t"an)!" o va'%! do*!)ti$a''( o" int!"nationa''( o%t)id! o t#! $onv!ntiona' inan$ia'

in)tit%tion) )()t!*.G !*-#a)i) add!d.


18/20


?2 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21Recommendations o$ the Financial Action Tas% Fo#ce on Mone"Launde#ing5in$'%din& t#at@ 1 inan$ia' in)tit%tion) )#o%'d tak! *!a)%"!)to a$$%"at!'( id!nti( t#!i" $%)to*!"); 2 in)tit%tion) )#o%'d k!!- "!$o"d)o a'' t"an)a$tion); and 3 in)tit%tion) )#o%'d -a( $'o)! att!ntion to 'a"&! o"

"!%!nt t"an)a$tion).

111

Mo"!ov!"+ t#!Fo#t" Recommendations!-'i$it'()tat!) t#at t#! "!$o**!ndation) -!"tainin& to $%)to*!" id!ntii$ation"!$o"dk!!-in& "%'!)+ in$"!a)!d di'i&!n$! o inan$ia' in)tit%tion)+ and ot#!"*!a)%"!) to $o*bat *on!( 'a%nd!"in& E)#o%'d not on'( a--'( to bank)+ b%ta')o to nonbank inan$ia' in)tit%tion)+G and t#at anti*on!( 'a%nd!"in&"!&%'ation) )#o%'d a--'( !v!n'( a$"o)) a'' in)tit%tion)+ %)in& *on!(!$#an&!) a) an !a*-'! o a nonbank in)tit%tion t#at )#o%'d b!$ov!"!d.112It i) notab'! t#at SAR and K5C "!%i"!*!nt) a--'( to *on!(!$#an&!) %nd!" t#! $%""!nt "!&%'ato"( )$#!*!.113T#%)+ t#! "!&%'ato"( &a-)%""o%ndin& SAR and K5C "!%i"!*!nt) *%)t b! $'o)!d+ o" bot# do*!)ti$and int!"nationa' "!a)on).

A) a *!*b!" nation o t#! >AT>+ t#! nit!d Stat!) #a) to 'iv! %- to it)"!)-on)ibi'it( to %''( and a&&"!))iv!'( $o*bat *on!( 'a%nd!"in&. T#at*!an)+ in t#i) $a)!+ to $'o)! t#! "!&%'ato"( &a-. B( doin& )o+ t#! nit!dStat!) ,i'' )!t a bo'd -"!$!d!nt o" t#! "!)t o t#! ,o"'d to tak! )t!-) to$'o)!'( "!&%'at! t#!i" %nd!"&"o%nd !$ono*i!)+ and advan$! t#! nit!dStat!)J -o)ition a) t#! to%!)t nation in t#! ,o"'d on *on!( 'a%nd!"in&.

1D. I*-'!*!ntation Ba""i!")

T#!"! a"! a n%*b!" o i))%!) to b! add"!))!d t#at *a( -"!v!nt )!a*'!))i*-'!*!ntation. T#! i")t o t#!)! i) t#! ad*ini)t"ativ! b%"d!n i*-o)!d%-on >inC7N ,it# t#! i*-'!*!ntation o t#! 9TO. #i'! t#!"! i) anab)!n$! o !*-i"i$a' !vid!n$! to d!*on)t"at! t#at an in$"!a)! o CTRvo'%*! ,o%'d "!)%'t "o* t#! 9TO+ it i) "!a)onab'! to a))%*! t#at a

$on)id!"ab'! in$"!a)! in CTR vo'%*! ,o%'d "!)%'t "o* CTR) b!in&&!n!"at!d o" a'' t"an)a$tion) "an&in& "o* 3000 to . in t#! N!,5o"k Cit( *!t"o-o'itan a"!a. T#!"!o"!+ an in$"!a)! in -!")onn!' "!%i"!dto -"o$!)) and ana'(! t#! n!,'(*andat!d CTR) ,o%'d b! )i&nii$ant. 114

it#o%t )%$# an in$"!a)! in -!")onn!'+ >inC7N ,o%'d !it#!" b! in%ndat!d,it# data o" no on! to -"o$!)) o" ana'(! t#! datao" bot#. I t#! -"o-o)!d"!&%'ation) a"! not *!t ,it# $o""!)-ondin& "!)o%"$!)+ it ,o%'d obvio%)'(d!t"a$t "o* t#! ov!""idin& &oa' o t#! 9TO+ ,#i$# i) to in$"!a)! *on!('a%nd!"in& inv!)ti&ation '!ad)+ a""!)t)+ and -"o)!$%tion). T#! )-!!d b(

111 . >IN. ACTION TASK >ORC7 ON MON75 8AND7RIN9+ T:7 >ORT5

R7COMM7NDATIONSO>T:7>INANCIA8ACTIONTASK>ORC7ONMON758AND7RIN9?

16+ #tt-@//,,,.in$!n.&ov/40"!$.-d.112 . Id.at 4.113 . See sup#a=a"t .A. SAR "!%i"!*!nt) o" *on!( !$#an&!") and =a"t .C.

K5C "!%i"!*!nt) o" *on!( !$#an&!)+ !)-!$ia''( %nd!" t#! SA =ATRIOT A$t.114 . See sup#a=a"t .B.


19/20


200H C)EC* CAS)IN+ RE+,LATION ?3,#i$# t#! data i) -"o$!))!d and ana'(!d i) $"iti$a' to t#! 'a, !no"$!*!nt!nd) a))o$iat!d ,it# t#! 9TO+ and >inC7N *%)t b! -"!-a"!d to *!!t t#i)$#a''!n&!. A) a "!)%'t+ t#! -"o-o)!d *!a)%"!) #!"! a"! not b%d&!t n!%t"a'.

1Anot#!" -o))ib'! ba""i!" *a( b! t#! bankin& ind%)t"(J) 'obb(in&

)t"!n&t#. In "!)-on)! to t#! Ann%nio('i! AntiMon!( 8a%nd!"in& A$to 12+11? t#! bankin& ind%)t"( Ein)i)t!d t#at t#! *o"! !-!n)iv!"!$o"dk!!-in& "!%i"!*!nt) -"o-o)!d b( T"!a)%"( ,o%'d $o)t 2?0*i''ionH to i*-'!*!nt+ t#o% it i) %n$'!a" #o, t#!( a""iv!d at t#i)i&%"!.G116 D!)-it! t#!i" -"!vio%) obF!$tion)+ t#! bankin& ind%)t"(J)-o)ition #a) )ot!n!d )%b)tantia''( )in$! t#! S!-t!*b!" 11 atta$k)+ a)-"!vio%)'( not!d in S!$tion .C.11

T#!)! $on$!"n)+ #o,!v!"+ a"! *ino" in $ont"a)t to t#! )i&nii$anti*-"ov!*!nt t#! -"o-o)!d "!&%'ation ,o%'d #av! on *on!( 'a%nd!"in&!no"$!*!nt+ inv!)ti&ation+ and -"o)!$%tion. In t!"*) o data $o''!$tion+ t#!&ov!"n*!nt ,o%'d not b! "!%i"!d to d!di$at! an( *o"! "!)o%"$!) #%*ano" inan$ia' t#an it do!) -"!)!nt'(. T#! $#!$k $a)#!") ,o%'d b! "!%i"!d toi'! CTR) a) t#!( do no,+ a'b!it a &"!at!" n%*b!". :o,!v!"+ a) not!dabov!+ t#! i*-'!*!ntation b%"d!n $o*!) ,it# t#! -"o$!))in& and ana'()i)o t#! data $o''!$t!d.11In 'it o t#! )%n)!t -"ovi)ion o t#! 9TO+ an()#it in !-!ndit%"! o "!)o%"$!) ,o%'d b! t!*-o"a"(+ 'i*it!d to )i*ont#).

T#! -ot!ntia' b!n!it b( ,a( o inv!)ti&ation and -"o)!$%tion i.!.+ t#!%'ti*at! )#%ttin& do,n o i''i$it $#!$k $a)#!")+ and t#! ta"&!t!d inan$ia')%--'( )o%"$!) ,o%'d !v!nt%a''( t"an)'at! into a d!$"!a)!d n!!d o" #%*anand *on!ta"( "!)o%"$!) b!in& !-!nd!d in t#i) )!$to" o !no"$!*!nt. T#ati) t#! $a)! #!"!b( )#%ttin& do,n i''i$it $#!$k $a)#!") and inan$ia' )%--'()o%"$!)+ t#! &ov!"n*!nt ,i'' b! ab'! to+ in ti*!+ "!d%$! o" ot#!",i)!"!di"!$t t#o)! "!)o%"$!) d!di$at!d to t#! inv!)ti&ation o *on!( 'a%nd!"!")and t#o)! ,#o %)! *on!( 'a%nd!"!") a) a *!an) to a))i)t in t#!i" $"i*ina'a$tiviti!).

I. CONC8SION1

>o" t#! o"!&oin& "!a)on)+ it i) $'!a" t#at t#!"! $%""!nt'( !i)t) a)i&nii$ant -"ob'!* in t#! "!&%'ato"( )$#!*! o $#!$k $a)#!"). T#i)

11? . Ann%nio('i! AntiMon!( 8a%nd!"in& A$t+ =%b. 8. No. 102??0+ 106 Stat.

4044 $odii!d a) a*!nd!d in )$att!"!d )!$tion) o Tit'!) 12+ 1+ and 31. See gene#all"

C%''a"+ sup#anot! 2+ at 3?60 o%t'inin& t#! bank)J o--o)ition to t#! Ann%nio('i!

A$t.116 . C%''a"+sup#anot! 2+ at 3? L n.10.11 . See5 e.g.+sup#a--. 30?0 and a$$o*-an(in& not!).11 . >!ndo+ sup#anot! + at 1?46 $itin&D%n$an 7. A'o"d+Anti9Mone" Launde#ing

Regulations& A u#den on Financial Institutions+ 1 N.C.


20/20


?4 CRIMINAL AND CIVIL CONFINEMENT o'. 34@21-"ob'!* #a) "!)%'t!d in a inan$ia' )a! #av!n o" $"i*ina') o va"io%))t"i-!)+ ,#o 'a%nd!" *on!( ,it#o%t d!t!$tion b( t#! >!d!"a' &ov!"n*!ntand ,it# t#! kno,'!d&! t#at t#! >!d!"a' &ov!"n*!nt do!) not #av! t#!*!an) to inv!)ti&at! t#!)! t"an)a$tion). >o" t#!)! "!a)on)+ >inC7N )#o%'d

-"o*%'&at! t#"!! "!&%'ation)@ 1 !)tab'i)# a 9TO o" t#! N!, 5o"k Cit(*!t"o-o'itan a"!a "!d%$in& t#! CTR t#"!)#o'd a*o%nt to 3000; 2 a*!ndt#! SAR "!%i"!*!nt) to b"in& $#!$k $a)#!") ,it#in t#! o'd o t#!"!&%'ato"( *andat!); and 3 a*!nd t#! K5C "!%i"!*!nt) to b"in& $#!$k$a)#!") ,it#in t#! o'd o t#! "!&%'ato"( *andat!). T#!)! t#"!! "!&%'ation),i'' )i&nii$ant'( $'o)! t#! "!&%'ato"( &a-+ -"ovid! t#! &ov!"n*!nt ,it# t#!too') it n!!d) to )#%t do,n i''i$it $#!$k $a)#!")+ and d"( %- t#! $a-ita'"!)!"v!) &!n!"at!d b( $"i*ina') ,#o !*-'o( $#!$k $a)#!") to advan$! t#!i"a$tiviti!).

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