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Can you summarize 31 USC 5332?
RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS > Bulk cash smuggling into or out of the United States
Short Summary
This legal document, found in the United States Code, specifically addresses the criminal offense of bulk cash smuggling into or out of the United States. It states that anyone who knowingly conceals more than $10,000 in currency or other monetary instruments with the intent to evade currency reporting requirements and transports or transfers it between places within or outside the United States is guilty of a currency smuggling offense. The offense carries a penalty of imprisonment for up to 5 years. Additionally, the court may order the forfeiture of any property involved in the offense or traceable to it. The document also outlines the procedures for seizure, restraint, and forfeiture of property, as well as the treatment of certain property as involved in the offense. There are no exemptions mentioned in this document.
Whom does it apply to?
Individuals who knowingly conceal more than $10,000 in currency or other monetary instruments and transport or transfer it between places within or outside the United States
What does it govern?
Bulk cash smuggling into or out of the United States
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A person convicted of a currency smuggling offense or conspiracy to commit such offense may be imprisoned for up to 5 years. The court may also order the forfeiture of any property involved in the offense or traceable to it.
Jurisdiction
U.S. Federal Government