Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1577 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	IB
2		-	Union Calendar No. 12
	1	+	I
3	2		119THCONGRESS
4	3		1
5	4		STSESSION H. R. 1577
6		-	[Report No. 119–22]
7	5		To provide authority to the Secretary of the Treasury to take special measures
8	6		against certain entities outside of the United States of primary money
9	7		laundering concern in connection with illicit fentanyl and narcotics fi-
10	8		nancing, and for other purposes.
11	9		IN THE HOUSE OF REPRESENTATIVES
12	10		FEBRUARY25, 2025
13	11		Mr. O
14	12		GLES(for himself, Ms. DELACRUZ, Mr. MEUSER, Mr. NUNNof Iowa,
15	13		Mrs. K
16	14		IM, Mr. SESSIONS, and Mr. FIELDS) introduced the following bill;
17	15		which was referred to the Committee on Financial Services
18		-	M
19		-	ARCH21, 2025
20		-	Additional sponsors: Mr. M
21		-	OOREof North Carolina, Mr. BARR, and Mr.
22		-	L
23		-	AWLER
24		-	M
25		-	ARCH21, 2025
26		-	Reported with an amendment, committed to the Committee of the Whole
27		-	House on the State of the Union, and ordered to be printed
28		-	[Strike out all after the enacting clause and insert the part printed in italic]
29		-	[For text of introduced bill, see copy of bill as introduced on February 25, 2025]
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33	16		A BILL
34	17		To provide authority to the Secretary of the Treasury to
35	18		take special measures against certain entities outside
36	19		of the United States of primary money laundering con-
37	20		cern in connection with illicit fentanyl and narcotics fi-
38	21		nancing, and for other purposes.
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42	22		Be it enacted by the Senate and House of Representa-1
43	23		tives of the United States of America in Congress assembled, 2
44	24		SECTION 1. SHORT TITLE. 3
45	25		This Act may be cited as the ‘‘Stop Fentanyl Money 4
46	26		Laundering Act of 2025’’. 5
47		-	SEC. 2. DETERMINATION WITH RESPECT TO PRIMARY 6
48		-	MONEY LAUNDERING CONCERN OF ILLICIT 7
49		-	FENTANYL AND NARCOTICS FINANCING. 8
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	30	+	SEC. 2. DETERMINATION WITH RESPECT TO PRIMARY 1
	31	+	MONEY LAUNDERING CONCERN OF ILLICIT 2
	32	+	FENTANYL AND NARCOTICS FINANCING. 3
50	33		(a) I
51		-	NGENERAL.—If the Secretary of the Treasury ~~de-9~~
52		-	~~termines~~ that one or more financial institutions ~~operating 10~~
53		-	outside of the United States, or one or more classes ~~of trans-11~~
54		-	~~actions~~ within, or involving, a jurisdiction outside ~~of the 12~~
55		-	United States, or one or more types of accounts ~~within, or 13~~
56		-	involving, a jurisdiction outside of the United ~~States is of 14~~
57		-	primary money laundering concern in ~~connection with il-15~~
58		-	~~licit~~ fentanyl and narcotics financing, the ~~Secretary of the 16~~
59		-	Treasury may, by order, regulation, or ~~otherwise as per-17~~
60		-	~~mitted~~ by law, require domestic financial ~~institutions and 18~~
61		-	domestic financial agencies to take one or ~~more of the spe-19~~
62		-	~~cial~~ measures described in section ~~5318A(b) of title 31, 20~~
63		-	United States Code. 21
	34	+	NGENERAL.—If the Secretary of the Treasury 4
	35	+	determines that one or more financial institutions oper-5
	36	+	ating outside of the United States, or one or more classes 6
	37	+	of transactions within, or involving, a jurisdiction outside 7
	38	+	of the United States, or one or more types of accounts 8
	39	+	within, or involving, a jurisdiction outside of the United 9
	40	+	States is of primary money laundering concern in connec-10
	41	+	tion with illicit fentanyl and narcotics financing, the Sec-11
	42	+	retary of the Treasury may, by order, regulation, or other-12
	43	+	wise as permitted by law, require domestic financial insti-13
	44	+	tutions and domestic financial agencies to take one or 14
	45	+	more of the special measures described in section 15
	46	+	5318A(b) of title 31, United States Code. 16
64	47		(b) C
65		-	LASSIFIEDINFORMATION.—In any judicial re-22
66		-	view of a finding of the existence of a primary money laun-23
67		-	dering concern, or of the requirement for 1 or more special 24
68		-	measures with respect to a primary money laundering con-25
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	48	+	LASSIFIEDINFORMATION.—In any judicial re-17
	49	+	view of a finding of the existence of a primary money laun-18
	50	+	dering concern, or of the requirement for 1 or more special 19
	51	+	measures with respect to a primary money laundering con-20
	52	+	cern made under this section, if the designation or imposi-21
	53	+	tion, or both, were based on classified information (as de-22
	54	+	fined in section 1(a) of the Classified Information Proce-23
	55	+	dures Act (18 U.S.C. App.)), such information may be 24
	56	+	submitted by the Secretary of the Treasury to the review-25
	57	+	ing court ex parte and in camera. This subsection does 26
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	60	+	•HR 1577 IH
	61	+	not confer or imply any right to judicial review of any find-1
	62	+	ing made or any requirement imposed under this section. 2
	63	+	(c) A
	64	+	VAILABILITY OFINFORMATION.—The exemp-3
	65	+	tions from, and prohibitions on, search and disclosure re-4
	66	+	ferred to in section 9714(c) of the National Defense Au-5
	67	+	thorization Act for Fiscal Year 2021 (Public Law 116– 6
	68	+	283; 31 U.S.C. 5318A note) shall apply to any report or 7
	69	+	record of report filed pursuant to a requirement imposed 8
	70	+	under subsection (a). For purposes of section 552 of title 9
	71	+	5, United States Code, this section shall be considered a 10
	72	+	statute described in subsection (b)(3)(B) of that section. 11
	73	+	(d) P
	74	+	ENALTIES.—The penalties referred to in section 12
	75	+	9714(d) of the National Defense Authorization Act for 13
	76	+	Fiscal Year 2021 (Public Law 116–283; 31 U.S.C. 5318A 14
	77	+	note) shall apply to violations of any order, regulation, 15
	78	+	special measure, or other requirement imposed under sub-16
	79	+	section (a), in the same manner and to the same extent 17
	80	+	as described in such section 9714(d). 18
	81	+	(e) I
	82	+	NJUNCTIONS.—The Secretary of the Treasury 19
	83	+	may bring a civil action to enjoin a violation of any order, 20
	84	+	regulation, special measure, or other requirement imposed 21
	85	+	under subsection (a) in the same manner and to the same 22
	86	+	extent as described in section 9714(e) of the National De-23
	87	+	fense Authorization Act for Fiscal Year 2021 (Public Law 24
	88	+	116–283; 31 U.S.C. 5318A note). 25
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71		-	•HR 1577 RH
72		-	cern made under this section, if the designation or imposi-1
73		-	tion, or both, were based on classified information (as de-2
74		-	fined in section 1(a) of the Classified Information Proce-3
75		-	dures Act (18 U.S.C. App.)), such information may be sub-4
76		-	mitted by the Secretary of the Treasury to the reviewing 5
77		-	court ex parte and in camera. This subsection does not con-6
78		-	fer or imply any right to judicial review of any finding 7
79		-	made or any requirement imposed under this section. 8
80		-	(c) A
81		-	VAILABILITY OFINFORMATION.—The exemptions 9
82		-	from, and prohibitions on, search and disclosure referred 10
83		-	to in section 9714(c) of the National Defense Authorization 11
84		-	Act for Fiscal Year 2021 (Public Law 116–283; 31 U.S.C. 12
85		-	5318A note) shall apply to any report or record of report 13
86		-	filed pursuant to a requirement imposed under subsection 14
87		-	(a). For purposes of section 552 of title 5, United States 15
88		-	Code, this section shall be considered a statute described in 16
89		-	subsection (b)(3)(B) of that section. 17
90		-	(d) P
91		-	ENALTIES.—The penalties referred to in section 18
92		-	9714(d) of the National Defense Authorization Act for Fis-19
93		-	cal Year 2021 (Public Law 116–283; 31 U.S.C. 5318A note) 20
94		-	shall apply to violations of any order, regulation, special 21
95		-	measure, or other requirement imposed under subsection 22
96		-	(a), in the same manner and to the same extent as described 23
97		-	in such section 9714(d). 24
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	91	+	•HR 1577 IH
	92	+	(f) DEFINITIONS.—In this section, the terms ‘‘domes-1
	93	+	tic financial agency’’, ‘‘domestic financial institution’’, ‘‘fi-2
	94	+	nancial agency’’, and ‘‘financial institution’’ have the 3
	95	+	meanings given those terms as used in section 9714 of 4
	96	+	the National Defense Authorization Act for Fiscal Year 5
	97	+	2021 (Public Law 116–283; 31 U.S.C. 5318A note). 6
	98	+	SEC. 3. TRADE-BASED MONEY LAUNDERING ADVISORY. 7
	99	+	Not later than one year following the date of the en-8
	100	+	actment of this Act, the Financial Crimes Enforcement 9
	101	+	Network shall update and issue a new advisory to financial 10
	102	+	institutions on identifying Chinese professional money 11
	103	+	laundering facilitating the trafficking of fentanyl and 12
	104	+	other synthetic opioids. Such advisory shall incorporate 13
	105	+	the following advisories: 14
	106	+	(1) FIN–2014–A005, entitled ‘‘Update on U.S. 15
	107	+	Currency Restrictions in Mexico: Funnel Accounts 16
	108	+	and TBML’’; 17
	109	+	(2) FIN–2010–A001, entitled ‘‘Advisory to Fi-18
	110	+	nancial Institutions on Filing Suspicious Activity 19
	111	+	Reports regarding Trade-Based Money Laundering’’; 20
	112	+	and 21
	113	+	(3) FIN–2019–A006, entitled ‘‘Advisory to Fi-22
	114	+	nancial Institutions on Illicit Financial Schemes and 23
	115	+	Methods Related to the Trafficking of Fentanyl and 24
	116	+	Other Synthetic Opioids’’. 25
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100		-	•HR 1577 RH
101		-	(e) INJUNCTIONS.—The Secretary of the Treasury may 1
102		-	bring a civil action to enjoin a violation of any order, regu-2
103		-	lation, special measure, or other requirement imposed under 3
104		-	subsection (a) in the same manner and to the same extent 4
105		-	as described in section 9714(e) of the National Defense Au-5
106		-	thorization Act for Fiscal Year 2021 (Public Law 116–283; 6
107		-	31 U.S.C. 5318A note). 7
108		-	(f) D
109		-	EFINITIONS.—In this section, the terms ‘‘domestic 8
110		-	financial agency’’, ‘‘domestic financial institution’’, ‘‘finan-9
111		-	cial agency’’, and ‘‘financial institution’’ have the mean-10
112		-	ings given those terms as used in section 9714 of the Na-11
113		-	tional Defense Authorization Act for Fiscal Year 2021 (Pub-12
114		-	lic Law 116–283; 31 U.S.C. 5318A note). 13
115		-	SEC. 3. TRADE-BASED MONEY LAUNDERING ADVISORY. 14
116		-	Not later than one year following the date of the enact-15
117		-	ment of this Act, the Financial Crimes Enforcement Net-16
118		-	work shall update and issue a new advisory to financial 17
119		-	institutions on identifying Chinese professional money 18
120		-	laundering facilitating the trafficking of fentanyl and other 19
121		-	synthetic opioids. Such advisory shall incorporate the fol-20
122		-	lowing advisories: 21
123		-	(1) FIN–2014–A005, entitled ‘‘Update on U.S. 22
124		-	Currency Restrictions in Mexico: Funnel Accounts 23
125		-	and TBML’’. 24
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129		-	(2) FIN–2010–A001, entitled ‘‘Advisory to Fi-1
130		-	nancial Institutions on Filing Suspicious Activity 2
131		-	Reports regarding Trade-Based Money Laundering’’. 3
132		-	(3) FIN–2019–A006, entitled ‘‘Advisory to Fi-4
133		-	nancial Institutions on Illicit Financial Schemes and 5
134		-	Methods Related to the Trafficking of Fentanyl and 6
135		-	Other Synthetic Opioids’’. 7
136		-	SEC. 4. TREATMENT OF TRANSNATIONAL CRIMINAL ORGA-8
137		-	NIZATIONS IN SUSPICIOUS TRANSACTIONS. 9
	119	+	•HR 1577 IH
	120	+	SEC. 4. TREATMENT OF TRANSNATIONAL CRIMINAL ORGA-1
	121	+	NIZATIONS IN SUSPICIOUS TRANSACTIONS. 2
138	122		(a) F
139		-	ILINGINSTRUCTIONS.—Not later than 180 days 10
140		-	after the date of the enactment of this Act, the Director ~~of 11~~
141		-	the Financial Crimes Enforcement Network shall issue 12
142		-	guidance or instructions to United States financial institu-13
143		-	tions for filing reports on suspicious transactions required 14
144		-	by section 5318(g) of title 31, United States Code, related 15
145		-	to suspected narcotics trafficking by transnational ~~criminal 16~~
146		-	organizations. 17
	123	+	ILINGINSTRUCTIONS.—Not later than 180 days 3
	124	+	after the date of the enactment of this Act, the Director 4
	125	+	of the Financial Crimes Enforcement Network shall issue 5
	126	+	guidance or instructions to United States financial institu-6
	127	+	tions for filing reports on suspicious transactions required 7
	128	+	by section 5318(g) of title 31, United States Code, related 8
	129	+	to suspected narcotics trafficking by transnational crimi-9
	130	+	nal organizations. 10
147	131		(b) P
148		-	RIORITIZATION OFREPORTSRELATING TONAR-18
149		-	COTICSTRAFFICKING ORTRANSNATIONALCRIMINALORGA-19
150		-	NIZATIONS.—The Director shall prioritize research into re-20
151		-	ports described in subsection (a) that indicate a connection 21
152		-	to trafficking of narcotics. 22
	132	+	RIORITIZATION OF REPORTSRELATING TO 11
	133	+	N
	134	+	ARCOTICSTRAFFICKING ORTRANSNATIONALCRIMINAL 12
	135	+	O
	136	+	RGANIZATIONS.—The Director shall prioritize research 13
	137	+	into reports described in subsection (a) that indicate a 14
	138	+	connection to trafficking of narcotics. 15
153	139		(c) B
154		-	RIEFING TOCONGRESS.—Not later than one year 23
155		-	after the date of enactment of this Act, the Director shall 24
156		-	brief the Committees on Financial Services and Foreign Af-25
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160		-	fairs of the House of Representatives and the Committees 1
161		-	on Banking, Housing, and Urban Affairs and Foreign Re-2
162		-	lations of the Senate on the usefulness of the guidance or 3
163		-	instructions issued under subsection (a). 4
164		-	SEC. 5. REPORT ON LESSONS LEARNED FROM PREVIOUS 5
165		-	DRUG CRISES. 6
166		-	Not later than 360 days after the date of enactment 7
167		-	of this Act, the Comptroller General of the United States, 8
168		-	in consultation with the Department of the Treasury and 9
169		-	other relevant agencies, shall provide the Committees on Fi-10
170		-	nancial Services and Foreign Affairs of the House of Rep-11
171		-	resentatives and the Committees on Banking, Housing, and 12
172		-	Urban Affairs and Foreign Relations of the Senate with 13
173		-	an unclassified report and briefing on the lessons learned 14
174		-	from previous drug crises, including the crack cocaine crisis 15
175		-	of the 1980s, with respect to— 16
176		-	(1) how transnational criminal organizations 17
177		-	target individual and community victims; 18
178		-	(2) the negative impacts on those victims, in-19
179		-	cluding financial and health effects; 20
180		-	(3) mitigation activities that were effective in 21
181		-	lessening the targeting of these victims or the negative 22
182		-	impacts on such victims; and 23
183		-	(4) recommendations to confront such targeting, 24
184		-	based on findings described under paragraphs (1), 25
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188		-	(2), and (3), that may be applied to the ongoing 1
189		-	opioid crisis. 2
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192		-	kjohnson on DSK7ZCZBW3PROD with $$_JOB Union Calendar No.
193		-	12
194		-	119
195		-	TH
196		-	CONGRESS
197		-	1
198		-	ST
199		-	S
200		-	ESSION
201		-
202		-	H. R. 1577
203		-	[Report No. 119–22]
204		-	A BILL
205		-	To provide authority to the Secretary of the Treas-
206		-	ury to take special measures against certain enti-
207		-	ties outside of the United States of primary
208		-	money laundering concern in connection with il-
209		-	licit fentanyl and narcotics financing, and for
210		-	other purposes.
211		-	M
212		-	ARCH
213		-	21, 2025
214		-	Reported with an amendment, committed to the Com-
215		-	mittee of the Whole House on the State of the Union,
216		-	and ordered to be printed
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	140	+	RIEFING TOCONGRESS.—Not later than one 16
	141	+	year after the date of enactment of this Act, the Director 17
	142	+	shall brief the Committees on Financial Services and For-18
	143	+	eign Affairs of the House of Representatives and the Com-19
	144	+	mittees on Banking, Housing, and Urban Affairs and For-20
	145	+	eign Relations of the Senate on the usefulness of the guid-21
	146	+	ance or instructions issued under subsection (a). 22
	147	+	Æ
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