No Bank Accounts for Terrorists Act
This bill allows the Department of the Treasury to impose restrictions regarding an entity or activity determined to be of primary money-laundering concern in connection with illicit finance in Afghanistan. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may (1) require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity; or (2) prohibit, or impose certain conditions upon, the transmittal of funds involving any domestic financial institution or agency and that entity or activity.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6511 Introduced in House (IH)]
<DOC>
117th CONGRESS
2d Session
H. R. 6511
To direct the Secretary of the Treasury to determine if there are
reasonable grounds to conclude that there is a primary money laundering
concern in connection with Afghan illicit finance, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
January 28, 2022
Mr. Auchincloss introduced the following bill; which was referred to
the Committee on Financial Services
_______________________________________________________________________
A BILL
To direct the Secretary of the Treasury to determine if there are
reasonable grounds to conclude that there is a primary money laundering
concern in connection with Afghan illicit finance, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``No Bank Accounts for Terrorists
Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) There is evidence to suggest that the Taliban raises
revenue to support nefarious and illicit activities through
donations from foreign individuals, illicit drug exports, and
precious mineral extraction.
(2) In August 2021, following the desertion of Afghan
President Ashraf Ghani and the withdrawal of United States
troops, the Taliban assumed control of the majority of
Afghanistan.
(3) Members of the Taliban are listed on the Department of
the Treasury's Specially Designated Nationals And Blocked
Persons List.
(4) The Department of the Treasury's Office of Foreign
Assets Control (OFAC) has issued two general licenses (GLs) to
support humanitarian assistance to the Afghanistan people.
(5) The Department of the Treasury can issue special
measures for entities that are considered a primary money
laundering concern.
SEC. 3. DETERMINATION WITH RESPECT TO PRIMARY MONEY LAUNDERING CONCERN
OF AFGHAN ILLICIT FINANCE.
(a) Determination.--If the Secretary of the Treasury determines
that reasonable grounds exist for concluding that one or more financial
institutions operating outside of the United States, or 1 or more
classes of transactions within, or involving, a jurisdiction outside of
the United States, or 1 or more types of accounts within, or involving,
a jurisdiction outside of the United States is of primary money
laundering concern in connection with Afghan illicit finance, the
Secretary of the Treasury may, by order, regulation, or otherwise as
permitted by law--
(1) require domestic financial institutions and domestic
financial agencies to take 1 or more of the special measures
described in section 5318A(b) of title 31, United States Code;
or
(2) prohibit, or impose conditions upon, certain
transmittals of funds (to be defined by the Secretary)
involving any domestic financial institution or domestic
financial agency, if such transmittal of funds involves any
such institution, class of transaction, or type of account.
(b) Report Required.--
(1) In general.--Not later than 1 year after the date of
enactment of this Act, the Secretary of the Treasury shall
submit to the Committees on Financial Services and Foreign
Affairs of the House of Representatives and the Committees on
Banking, Housing, and Urban Affairs and Foreign Relations of
the Senate a report that shall identify any additional
regulations, statutory changes, enhanced due diligence, and
reporting requirements that are necessary to better identify,
prevent, and combat money laundering linked to Afghanistan,
including related to--
(A) identifying the beneficial ownership of
anonymous companies;
(B) strengthening current, or enacting new,
reporting requirements and customer due diligence
requirements for sectors and entities that support
illicit financial activity related to Afghanistan; and
(C) enhanced know-your-customer procedures and
screening for transactions involving Afghan political
leaders, Afghan state-owned or -controlled enterprises,
and known Afghan transnational organized crime figures.
(2) Format.--The report required under this subsection
shall be made available to the public, including on the website
of the Department of the Treasury, but may contain a classified
annex and be accompanied by a classified briefing.
(c) Sense of Congress on International Cooperation.--It is the
sense of the Congress that the Secretary of the Treasury and other
relevant cabinet members (such as the Secretary of State, Secretary of
Homeland Security, and Attorney General) should work jointly with
European, E.U., and U.K. financial intelligence units, trade
transparency units, and appropriate law enforcement authorities to
present, both in the report required under subsection (b) and in future
analysis of suspicious transaction reports, cash transaction reports,
currency and monetary instrument reports, and other relevant data to
identify trends and assess risks in the movement of illicit funds from
Afghanistan through the United States, British, and European financial
systems.
(d) Classified Information.--In any judicial review of a finding of
the existence of a primary money laundering concern, or of the
requirement for 1 or more special measures with respect to a primary
money laundering concern made under this section, if the designation or
imposition, or both, were based on classified information (as defined
in section 1(a) of the Classified Information Procedures Act (18 U.S.C.
App.)), such information may be submitted by the Secretary to the
reviewing court ex parte and in camera. This subsection does not confer
or imply any right to judicial review of any finding made or any
requirement imposed under this section.
(e) Availability of Information.--The exemptions from, and
prohibitions on, search and disclosure provided in section 5319 of
title 31, United States Code, shall apply to any report or record of
report filed pursuant to a requirement imposed under subsection (a) of
this section. For purposes of section 552 of title 5, United States
Code, this subsection shall be considered a statute described in
subsection (b)(3)(B) of that section.
(f) Penalties.--The penalties provided for in sections 5321 and
5322 of title 31, United States Code, that apply to violations of
special measures imposed under section 5318A of title 31, United States
Code, shall apply to violations of any order, regulation, special
measure, or other requirement imposed under subsection (a) of this
section, in the same manner and to the same extent as described in
sections 5321 and 5322.
(g) Injunctions.--The Secretary of the Treasury may bring a civil
action to enjoin a violation of any order, regulation, special measure,
or other requirement imposed under subsection (a) of this section in
the same manner and to the same extent as described in section 5320 of
title 31, United States Code.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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