18 U.S.C. § 1960 : US Code - Section 1960: Prohibition of unlicensed money transmitting businesses

Search 18 U.S.C. § 1960 : US Code - Section 1960: Prohibition of unlicensed money transmitting businesses

(a) Whoever knowingly conducts, controls, manages, supervises,
directs, or owns all or part of an unlicensed money transmitting
business, shall be fined in accordance with this title or
imprisoned not more than 5 years, or both.
(b) As used in this section -
(1) the term "unlicensed money transmitting business" means a
money transmitting business which affects interstate or foreign
commerce in any manner or degree and -
(A) is operated without an appropriate money transmitting
license in a State where such operation is punishable as a
misdemeanor or a felony under State law, whether or not the
defendant knew that the operation was required to be licensed
or that the operation was so punishable;
(B) fails to comply with the money transmitting business
registration requirements under section 5330 of title 31,
United States Code, or regulations prescribed under such
section; or
(C) otherwise involves the transportation or transmission of
funds that are known to the defendant to have been derived from
a criminal offense or are intended to be used to promote or
support unlawful activity;
(2) the term "money transmitting" includes transferring funds
on behalf of the public by any and all means including but not
limited to transfers within this country or to locations abroad
by wire, check, draft, facsimile, or courier; and
(3) the term "State" means any State of the United States, the
District of Columbia, the Northern Mariana Islands, and any
commonwealth, territory, or possession of the United States.