Labels:book | reckoner | sky | tree | windowpane OCR: SUMMARY OF ARGUMENT A.. In 1970 Congress enacted legislation that, inter atia requires domesti financial institutions their customers file currency transaction reports under circumstances prescribed by the Secretary the Treasury. U.S. 5313 imple- menting regulations, financial institution must file currency transaction report for any cash transac- tion 1r exeess of $10 000. Although Congress pre- ser ibed criminal penalties for anyone +wilifully lating" the reporting requirements the U.S.C 5322. it initially did not provide mechanism to prevent the evasion of the reporting requirements Section 5313(a) Ir 1986, Congress filled that gap by cnacting 31 U.S.C 5324. which states that no person shall, "for the osodand +f evading the report- ing requirenents' of Scction 5313(a) eause finan- cial ...
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