Summary: H.R.2986 — 104th Congress (1995-1996)All Information (Except Text)

There is one summary for H.R.2986. Bill summaries are authored by CRS.

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Introduced in House (02/28/1996)

Financial Crimes Prevention Act of 1996 - Amends the Federal criminal code to increase penalties for making, possessing, using, or selling materials or devices for counterfeiting U.S. obligations or securities and for possessing distinctive paper or a distinctive counterfeit deterrent adopted by the Secretary of the Treasury for U.S. obligations or securities.

Sets penalties for: (1) possessing, drawing, printing, processing, or otherwise making or passing, presenting, or selling any fictitious obligation within the United States; (2) using an instrumentality of interstate or foreign commerce to transmit or transport any fictitious obligation to, from, or through the United States; or (3) attempting to commit an such offense.

Grants the United States Secret Service authority to investigate such offenses.

Provides for the forfeiture of counterfeit access devices, device-making equipment, and scanning receivers possessed with intent to defraud in violation of Federal law.