A bill to amend title 31, United States Code, to authorize the Secretary of the Treasury to place prohibitions or conditions on certain transmittals of funds in connection with jurisdictions, financial institutions, international transactions, or types of accounts of primary money laundering concern.
Special Measures to Fight Modern Threats Act
This bill expands the special measures available to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering regarding
Specifically, FinCEN may prohibit or impose conditions upon the opening or maintaining in the United States of a correspondent account or payable-through account by any domestic financial institution or domestic financial agency without requiring, as under current law, that such account be for or on behalf of a foreign banking institution.
Further, FinCEN may prohibit or impose conditions upon certain transmittals of funds to or from any domestic financial institution or domestic financial agency if such transmittal of funds involves any such jurisdiction, institution, class of transaction, or type of account.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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