
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC5325]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE IV--MONEY
 
                    CHAPTER 53--MONETARY TRANSACTIONS
 
 SUBCHAPTER II--RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS
 
Sec. 5325. Identification required to purchase certain monetary 
        instruments
        
    (a) In General.--No financial institution may issue or sell a bank 
check, cashier's check, traveler's check, or money order to any 
individual in connection with a transaction or group of such 
contemporaneous transactions which involves United States coins or 
currency (or such other monetary instruments as the Secretary may 
prescribe) in amounts or denominations of $3,000 or more unless--
        (1) the individual has a transaction account with such financial 
    institution and the financial institution--
            (A) verifies that fact through a signature card or other 
        information maintained by such institution in connection with 
        the account of such individual; and
            (B) records the method of verification in accordance with 
        regulations which the Secretary of the Treasury shall prescribe; 
        or

        (2) the individual furnishes the financial institution with such 
    forms of identification as the Secretary of the Treasury may require 
    in regulations which the Secretary shall prescribe and the financial 
    institution verifies and records such information in accordance with 
    regulations which such Secretary shall prescribe.

    (b) Report to Secretary Upon Request.--Any information required to 
be recorded by any financial institution under paragraph (1) or (2) of 
subsection (a) shall be reported by such institution to the Secretary of 
the Treasury at the request of such Secretary.
    (c) Transaction Account Defined.--For purposes of this section, the 
term ``transaction account'' has the meaning given to such term in 
section 19(b)(1)(C) of the Federal Reserve Act.

(Added Pub. L. 100-690, title VI, Sec. 6185(b), Nov. 18, 1988, 102 Stat. 
4355.)

                       References in Text

    Section 19(b)(1)(C) of the Federal Reserve Act, referred to in 
subsec. (c), is classified to section 461(b)(1)(C) of Title 12, Banks 
and Banking.

                  Section Referred to in Other Sections

    This section is referred to in section 5324 of this title.
