Section 12-801 – Purpose

    It is the purpose of this subtitle to require certain reports and records of transactions involving currency where the reports and records have a high degree of usefulness in criminal investigations or proceedings which pertain to the subject of the report.

Section 12-802 – Definitions

    (a)    In this subtitle the following words have the meanings indicated.     (b)    “Currency” means currency and coin of the United States or any other country.     (c)    “Department” means the Maryland Department of Labor.     (d)    (1)    “Financial institution” means:             (i)    A national banking association;             (ii)    A State banking institution;             (iii)    A credit union that is organized under the laws of this State or of […]

Section 12-803 – Reports of Transactions in Excess of $10,000

    (a)    A financial institution shall keep a record of currency transactions in excess of $10,000 and shall file with the Department within 15 days of the date of the transaction pursuant to regulations adopted by the Secretary a complete report of currency transactions in excess of $10,000.     (b)    The reporting requirements of this section are complied with […]

Section 12-804 – Access to Reports

    (a)    The Department of Public Safety and Correctional Services and the Office of the Attorney General shall have access to and shall be authorized to inspect and copy any reports filed with the Department under this article.     (b)    The Department may make the contents of a report available to other criminal justice agencies only for purposes of […]

Section 12-805 – Civil Penalties

    (a)    The Secretary may assess a civil penalty against any financial institution and any officer, employee, agent, or director of the institution for each knowing and willful violation of this subtitle.     (b)    (1)    The civil penalty may not exceed $50 for each day the violation continues.         (2)    For purposes of this section, a separate violation occurs at each office, […]

Section 12-806 – Notice Regarding Information No Longer Available From Federal Agency

    If the information required by § 12-803(a) of this subtitle has been available to the Department from a federal agency, a financial institution may not be subject to the civil penalties provided for in this subtitle unless the financial institution has been notified by the Department that:         (1)    The information is no longer available; and         (2)    The […]