[Page: S12655]

Mr. CRAIG (for Mr. Grassley for himself and Mr. D'Amato) proposed an amendment to the bill (H.R. 1756) to amend chapter 53 of title 31, United States Code, to require the development and implementation by the Secretary of the Treasury of a national money laundering and related financial crimes strategy to combat money laundering and related financial crimes, and for other purposes; as follows:
On page 2, strike line 21, and all that follows through page 3, line 3 and insert the following:

`(2) Money laundering and related financial crime: The term `money laundering and related financial crime'--

`(A) means the movement of illicit cash or cash equivalent proceeds into, out of, or through the United States, or into, out of, or through United States financial institutions, as defined in section 5312 of title 31, United States Code; or

`(B) has the meaning given that term (or the term used for an equivalent offense) under State and local criminal statutes pertaining to the movement of illicit cash or cash equivalent proceeds.'.

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