529.2 Reports. 1. A licensee, authorized delegate, or money transmitter required to file a report regarding business conducted in this state pursuant to the federal Currency and Foreign TransactionsReporting Act, 31 U.S.C. §5311 through 5326 and 31 C.F.R. pt. 103, or 12 C.F.R. §21.11, shallfile a duplicate of that report with the department of public safety. 2. All persons engaged in a trade or business who are required to file a report pursuant to 26 U.S.C. §6050I and 26 C.F.R. §1.6050I, and any successor provisions, concerningreturns relating to cash received in trade or business, shall file a copy of the report with thedepartment of public safety. 3. A licensee, authorized delegate, or money transmitter that is regulated under the federal Currency and Foreign Transactions Reporting Act, 31 U.S.C. §5325 and 31 C.F.R. pt.103, and that is required to make available prescribed records to the secretary of the UnitedStates department of treasury upon request at any time, shall follow the same prescribedprocedures and create and maintain the same prescribed records relating to a transactionand shall make these records available to the department of public safety pursuant to follow the same prescribedprocedures and create and maintain the same prescribed records relating to a transactionand shall make these records available to the department of public safety pursuant to aprosecuting attorney subpoena. 4. a. The timely filing of a report required by this section with the appropriate federal agency shall be deemed compliance with the reporting requirements of this section, unlessthe attorney general or the department of public safety has notified the superintendent thatreports of that type are not being regularly and comprehensively transmitted by that federalagency to the department of public safety. b. This chapter does not preclude a licensee, authorized delegate, money transmitter, financial institution, or a person engaged in a trade or business, in its discretion, frominstituting contact with, and thereafter communicating with and disclosing customerfinancial records to appropriate state or local law enforcement agencies if the licensee,authorized delegate, money transmitter, financial institution, or person has information thatmay be relevant to a possible violation of any criminal statute or to the evasion or attemptedevasion of any reporting elegate, money transmitter, financial institution, or person has information thatmay be relevant to a possible violation of any criminal statute or to the evasion or attemptedevasion of any reporting requirement of this chapter. c. A licensee, authorized delegate, money transmitter, financial institution, person engaged in a trade or business, or any officer, employee, agent, or authorized delegate ofany of them, or any public official or governmental employee who keeps or files a recordpursuant to this section or who communicates or discloses information or records underparagraph 'b', is not liable to its customer, to a state or local agency, or to any person forany loss or damage caused in whole or in part by the making, filing, or governmental use ofthe report, or any information contained in that report. 5. The attorney general or the department of public safety may report any possible violations indicated by analysis of the reports required by this chapter to any appropriatelaw enforcement agency for use in the proper discharge of its official duties. The attorneygeneral or the department of public safety shall provide copies of the reports required by thischapter to any aw enforcement agency for use in the proper discharge of its official duties. The attorneygeneral or the department of public safety shall provide copies of the reports required by thischapter to any appropriate prosecutorial or law enforcement agency upon being providedwith a written request for records relating to a specific individual or entity and statingthat the agency has an articulable suspicion that such individual or entity has committed afelony offense or a violation of this chapter to which the reports are relevant. A person whoreleases information received pursuant to this subsection except in the proper discharge ofthe person’s official duties is guilty of a serious misdemeanor. 6. It shall be unlawful for any person to do any of the following:a. With intent to disguise the fact that money or a payment instrument is the proceeds of criminal conduct, or with intent to promote, manage, establish, carry on, or facilitatethe promotion, management, establishment, or carrying on of any criminal conduct, toknowingly furnish or provide to a licensee, authorized delegate, money transmitter, financialinstitution, person engaged in a trade or business, or any officer, employee, n of any criminal conduct, toknowingly furnish or provide to a licensee, authorized delegate, money transmitter, financialinstitution, person engaged in a trade or business, or any officer, employee, agent, orauthorized delegate of any of them, or to the attorney general or department of public safety,any false, inaccurate, or incomplete information; or to knowingly conceal a material factin connection with a transaction for which a report is required to be filed pursuant to thissection. Sat Dec 23 01:30:56 2023 Iowa Code 2024, Section 529.2 (17, 0) §529.2, IOWA FINANCIAL TRANSACTION REPORTING ACT 2 b. With the intent to disguise the fact that money or a payment instrument is the proceeds of criminal conduct, or with intent to promote, manage, establish, carry on, or facilitate thepromotion, management, establishment, or carrying on of any criminal conduct, or withintent to evade the making or filing of a report required under this chapter, or with intentto cause the making or filing of a report that contains a material omission or misstatementof fact, to conduct or structure a transaction or series of transactions by or through one ormore licensees, authorized delegates, money g of a report that contains a material omission or misstatementof fact, to conduct or structure a transaction or series of transactions by or through one ormore licensees, authorized delegates, money transmitters, financial institutions, or personsengaged in a trade or business. 7. A person who violates subsection 6 is guilty of a class 'C' felony and is also subject to a civil penalty of three times the value of the property involved in the transaction, or, if notransaction is involved, five thousand dollars. 8. Notwithstanding any other provision of law, each violation of this section constitutes a separate, punishable offense. 9. Any report, record, information, analysis, or request obtained by the attorney general or department of public safety pursuant to this chapter is not a public record as defined inchapter 22 and is not subject to disclosure. 96 Acts, ch 1133, §35; 98 Acts, ch 1074, §31Referred to in §22.7(34) Sat Dec 23 01:30:56 2023 Iowa Code 2024, Section 529.2 (17, 0)
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