(1)In any forfeiture action in rem in which the subject property is cash, monetary instruments in bearer form, funds deposited in an account in a financial institution (as defined in section
20 of this title), or precious metals—
(A)it shall not be necessary for the Government to identify the specific property involved in the offense that is the basis for the forfeiture; and
(B)it shall not be a defense that the property involved in such an offense has been removed and replaced by identical property.
(2)Except as provided in subsection (b), any identical property found in the same place or account as the property involved in the offense that is the basis for the forfeiture shall be subject to forfeiture under this section.
(b)No action pursuant to this section to forfeit property not traceable directly to the offense that is the basis for the forfeiture may be commenced more than 1 year from the date of the offense.
(1)Subsection (a) does not apply to an action against funds held by a financial institution in an interbank account unless the account holder knowingly engaged in the offense that is the basis for the forfeiture.
(2)In this subsection—
(A)the term “financial institution” includes a foreign bank (as defined in section 1(b)(7) of the International Banking Act of 1978 (12 U.S.C. 3101(b)(7)));  and
(B)the term “interbank account” means an account held by one financial institution at another financial institution primarily for the purpose of facilitating customer transactions.
(d)Nothing in this section may be construed to limit the ability of the Government to forfeit property under any provision of law if the property involved in the offense giving rise to the forfeiture or property traceable thereto is available for forfeiture.
Section 1(b)(7) of the International Banking Act of 1978, referred to in subsec. (c)(2)(A), is classified to section
3101(7) of Title
12, Banks and Banking.
2000—Subsec. (a). Pub. L. 106–185, § 13(a)(1), (2), redesignatedsubsec. (b) as (a), substituted “or precious metals” for “or other fungible property” in introductory provisions of par. (1) and “subsection (b)” for “subsection (c)” in par. (2), and struck out former subsec. (a) which read as follows: “This section shall apply to any action for forfeiture brought by the Government in connection with any offense under section
1960 of this title or section
5324 of title
31, United States Code.”
Subsec. (b). Pub. L. 106–185, § 13(a)(1), redesignatedsubsec. (c) as (b). Former subsec. (b) redesignated (a).
Subsec. (c). Pub. L. 106–185, § 13(a)(1), redesignatedsubsec. (d) as (c). Former subsec. (c) redesignated (b).
Subsec. (c)(1). Pub. L. 106–185, § 13(a)(3)(A), added par. (1) and struck out former par. (1) which read as follows: “No action pursuant to this section to forfeit property not traceable directly to the offense that is the basis for the forfeiture may be taken against funds held by a financial institution in an interbank account, unless the financial institution holding the account knowingly engaged in the offense.”
Subsec. (c)(2). Pub. L. 106–185, § 13(a)(3)(B), substituted “In this subsection—” for “As used in this section, the term”, added subpar. (A), and inserted “(B) the term” before “ ‘interbank account’ means”.
Subsec. (d). Pub. L. 106–185, § 13(a)(4), added subsec. (d). Former subsec. (d) redesignated (c).
Amendment by Pub. L. 106–185applicable to any forfeiture proceeding commenced on or after the date that is 120 days after Apr. 25, 2000, see section 21 ofPub. L. 106–185, set out as a note under section
1324 of Title
8, Aliens and Nationality.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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