2006 Utah Code - 76-10-1906 — Reporting by financial institutions -- Criminal and civil penalties -- Enforcement.

     76-10-1906.   Reporting by financial institutions -- Criminal and civil penalties -- Enforcement.
     (1) (a) All financial institutions in this state required to file reports under Title 31, Sections 5311 through 5313, United States Code Annotated, as prescribed by 31 Code of Federal Regulations Sections 103.21 and 103.22, shall file a duplicate copy of the required report with the Utah Division of Investigation.
     (b) All persons engaged in a trade or business, except financial institutions referred to in Subsection (1)(a), who receive more than $10,000 in domestic or foreign currency in one transaction, or who receive this amount through two or more related transactions during any one business day, shall complete and file with the Utah Division of Investigation the information required by Title 26, Section 6050I, United States Code Annotated, concerning returns relating to currency received in trade or business.
     (c) Any person who knowingly and intentionally fails to comply with the reporting requirements of this subsection is:
     (i) on a first conviction, guilty of a class C misdemeanor; and
     (ii) on a second or subsequent conviction, guilty of a class A misdemeanor.
     (d) A person is guilty of a third degree felony who knowingly and intentionally violates any part of this subsection and the violation is committed either:
     (i) in furtherance of the commission of any other violation of state law; or
     (ii) as part of a pattern of illegal activity involving transactions exceeding $100,000 in any 12-month period.
     (2) (a) The Utah Division of Investigation and the Office of the Attorney General shall enforce compliance with Subsection (1) and are custodians of and have access to all information and documents filed under Subsection (1).
     (b) The information is confidential except any law enforcement agency, county attorney, or district attorney, when establishing a clear need for the information for investigative purposes, shall have access and shall maintain the information in a confidential manner except as otherwise provided by the Utah Rules of Criminal Procedure.

Amended by Chapter 144, 1998 General Session