; and (B) to conduct enhanced scrutiny of any such account that is requested or maintained by, or on behalf of, a senior foreign political figure, or any immediate family member or close associate of a senior foreign political figure, that is reasonably designed to detect and report transactions that may involve the proceeds of covered human rights violations. (4) Definitions In this subsection: (A) Offshore banking license The term offshore banking license means a license to conduct banking activities which, as a condition of the license, prohibits the licensed entity from conducting banking activities with the citizens of, or with the local currency of, the country which issued the license. (B) Private banking account The term private banking account means an account (or any combination of accounts) that— (i) requires a minimum aggregate deposit of funds or other assets of not less than $500,000; (ii) is established on behalf of 1 or more individuals who have a direct or beneficial ownership interest in the account; and (iii) is assigned to, or is administered or managed by, in whole or in part, an officer, employee, or agent of a financial institution acting as a liaison between the financial institution and the direct or beneficial owner of the account. (f) Definitions In this section: (1) Covered human rights violation The term covered human rights violation means— (A) an offense described under chapter 50A of title 18, United States Code