Treatment of transnational criminal organizations in suspicious transactions

(a) Filing instructions Not later than 180 days after the date of the enactment of this Act, the Director of the Financial Crimes Enforcement Network shall issue guidance or instructions to United States financial institutions for filing reports on suspicious transactions required by section 5318(g) of title 31, United States Code, related to suspected narcotics trafficking by transnational criminal organizations. (b) Prioritization of reports relating to narcotics trafficking or transnational criminal organizations The Director shall prioritize research into reports described in subsection (a) that indicate a connection to trafficking of narcotics. (c) Briefing to Congress Not later than one year after the date of enactment of this Act, the Director shall brief the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate on the usefulness of the guidance or instructions issued under subsection (a).

(a) Filing instructions Not later than 180 days after the date of the enactment of this Act, the Director of the Financial Crimes Enforcement Network shall issue guidance or instructions to United States financial institutions for filing reports on suspicious transactions required by section 5318(g) of title 31, United States Code, related to suspected narcotics trafficking by transnational criminal organizations. (b) Prioritization of reports relating to narcotics trafficking or transnational criminal organizations The Director shall prioritize research into reports described in subsection (a) that indicate a connection to trafficking of narcotics. (c) Briefing to Congress Not later than one year after the date of enactment of this Act, the Director shall brief the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate on the usefulness of the guidance or instructions issued under subsection (a).