50 USC § 404m - Annual report on financial intelligence on terrorist assets
(a)
Annual report
On a
[1]
annual basis, the Secretary of the Treasury (acting through the head of the Office of Intelligence Support) shall submit a report to the appropriate congressional committees that fully informs the committees concerning operations against terrorist financial networks. Each such report shall include with respect to the preceding one-year period—
(1)
the total number of asset seizures, designations, and other actions against individuals or entities found to have engaged in financial support of terrorism;
(2)
the total number of physical searches of offices, residences, or financial records of individuals or entities suspected of having engaged in financial support for terrorist activity; and
(3)
whether the financial intelligence information seized in these cases has been shared on a full and timely basis with the all departments, agencies, and other entities of the United States Government involved in intelligence activities participating in the Foreign Terrorist Asset Tracking Center.
(b)
Immediate notification for emergency designation
In the case of a designation of an individual or entity, or the assets of an individual or entity, as having been found to have engaged in terrorist activities, the Secretary of the Treasury shall report such designation within 24 hours of such a designation to the appropriate congressional committees.
(c)
Submittal date of reports to congressional intelligence committees
In the case of the reports required to be submitted under subsection (a) of this section to the congressional intelligence committees, the submittal dates for such reports shall be as provided in section
415b of this title.
(d)
Appropriate congressional committees defined
In this section, the term “appropriate congressional committees” means the following:
[1] So in original. Probably should be “an”.
(a)
Annual report
On a
[1]
annual basis, the Secretary of the Treasury (acting through the head of the Office of Intelligence Support) shall submit a report to the appropriate congressional committees that fully informs the committees concerning operations against terrorist financial networks. Each such report shall include with respect to the preceding one-year period—
(1)
the total number of asset seizures, designations, and other actions against individuals or entities found to have engaged in financial support of terrorism;
(2)
the total number of physical searches of offices, residences, or financial records of individuals or entities suspected of having engaged in financial support for terrorist activity; and
(3)
whether the financial intelligence information seized in these cases has been shared on a full and timely basis with the all departments, agencies, and other entities of the United States Government involved in intelligence activities participating in the Foreign Terrorist Asset Tracking Center.
(b)
Immediate notification for emergency designation
In the case of a designation of an individual or entity, or the assets of an individual or entity, as having been found to have engaged in terrorist activities, the Secretary of the Treasury shall report such designation within 24 hours of such a designation to the appropriate congressional committees.
(c)
Submittal date of reports to congressional intelligence committees
In the case of the reports required to be submitted under subsection (a) of this section to the congressional intelligence committees, the submittal dates for such reports shall be as provided in section
415b of this title.
(d)
Appropriate congressional committees defined
In this section, the term “appropriate congressional committees” means the following:
[1] So in original. Probably should be “an”.
Source
(July 26, 1947, ch. 343, title I, § 118, as added Pub. L. 107–306, title III, § 342(a)(1),Nov. 27, 2002, 116 Stat. 2398; amended Pub. L. 111–259, title III, § 347(d),Oct. 7, 2010, 124 Stat. 2698.)
Amendments
2010—Pub. L. 111–259, § 347(d)(1), substituted “Annual” for “Semiannual” in section catchline.
Subsec. (a). Pub. L. 111–259, § 347(d)(2)(A), (B), in heading, substituted “Annual” for “Semiannual” and, in introductory provisions, substituted “annual basis” for “semiannual basis” and “preceding one-year period” for “preceding six-month period”.
Subsec. (a)(2) to (4). Pub. L. 111–259, § 347(d)(2)(C), (D), redesignated pars. (3) and (4) as (2) and (3), respectively, and struck out former par. (2) which read as follows: “the total number of applications for asset seizure and designations of individuals or entities suspected of having engaged in financial support of terrorist activities that were granted, modified, or denied;”.
Subsec. (d)(1), (2). Pub. L. 111–259, § 347(d)(3), inserted “the Committee on Armed Services,” after “the Committee on Appropriations,”.
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