Combating Terrorist and Other Illicit Financing Act

Combating Terrorist and Other Illicit Financing Act

This bill revises provisions related to the National Strategy for Combating Terrorist and Other Illicit Financing developed by the Department of the Treasury. Currently, the strategy must be published through 2022. The bill requires the strategy to be published in 2024 and 2026. The bill also revises how Treasury evaluates existing efforts as part of the strategy.

Additionally, tribal and territorial entities must be (1) eligible for grant programs to combat financial crime, and (2) included in efforts to combat illicit finance.