(205 ILCS 685/7) (from Ch. 17, par. 7357)
Sec. 7. (a) No person shall for the purpose of evading the recording or reporting requirements of Sections 4 and 5 of this Act:
(1) Cause or attempt to cause a financial institution
to fail to file a report or make a record required under this Act; or
(2) Cause or attempt to cause a financial institution
to fail to file a report or make a record required under this Act that contains a material omission or misstatement of fact; or
(3) Structure, assist in structuring, or attempt to
structure or assist in structuring any transaction with one or more financial institutions.
(b) A person structures a transaction if he is:
(1) acting alone, or in conjunction with or on behalf
of other persons;
(2) conducts, attempts to conduct, or assists in
conducting;
(3) one or more transactions in currency, cashier's
checks, money orders or traveler's checks;
(4) in any amount;
(5) at one or more financial institutions;
(6) on one or more days;
(7) in any manner;
(8) for the purpose of evading the reporting
requirements of this Act.
(c) Structuring a transaction is a Class 2 felony.
(Source: P.A. 87-619.)
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Last modified: February 18, 2015