[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1577 Reported in House (RH)] <DOC> Union Calendar No. 12 119th CONGRESS 1st Session H. R. 1577 [Report No. 119-22] To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 25, 2025 Mr. Ogles (for himself, Ms. De La Cruz, Mr. Meuser, Mr. Nunn of Iowa, Mrs. Kim, Mr. Sessions, and Mr. Fields) introduced the following bill; which was referred to the Committee on Financial Services March 21, 2025 Additional sponsors: Mr. Moore of North Carolina, Mr. Barr, and Mr. Lawler March 21, 2025 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed [Strike out all after the enacting clause and insert the part printed in italic] [For text of introduced bill, see copy of bill as introduced on February 25, 2025] _______________________________________________________________________ A BILL To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, 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 ``Stop Fentanyl Money Laundering Act of 2025''. SEC. 2. DETERMINATION WITH RESPECT TO PRIMARY MONEY LAUNDERING CONCERN OF ILLICIT FENTANYL AND NARCOTICS FINANCING. (a) In General.--If the Secretary of the Treasury determines that one or more financial institutions operating outside of the United States, or one or more classes of transactions within, or involving, a jurisdiction outside of the United States, or one or more types of accounts within, or involving, a jurisdiction outside of the United States is of primary money laundering concern in connection with illicit fentanyl and narcotics financing, the Secretary of the Treasury may, by order, regulation, or otherwise as permitted by law, require domestic financial institutions and domestic financial agencies to take one or more of the special measures described in section 5318A(b) of title 31, United States Code. (b) 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 of the Treasury 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. (c) Availability of Information.--The exemptions from, and prohibitions on, search and disclosure referred to in section 9714(c) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283; 31 U.S.C. 5318A note) shall apply to any report or record of report filed pursuant to a requirement imposed under subsection (a). For purposes of section 552 of title 5, United States Code, this section shall be considered a statute described in subsection (b)(3)(B) of that section. (d) Penalties.--The penalties referred to in section 9714(d) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283; 31 U.S.C. 5318A note) shall apply to violations of any order, regulation, special measure, or other requirement imposed under subsection (a), in the same manner and to the same extent as described in such section 9714(d). (e) 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) in the same manner and to the same extent as described in section 9714(e) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283; 31 U.S.C. 5318A note). (f) Definitions.--In this section, the terms ``domestic financial agency'', ``domestic financial institution'', ``financial agency'', and ``financial institution'' have the meanings given those terms as used in section 9714 of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283; 31 U.S.C. 5318A note). SEC. 3. TRADE-BASED MONEY LAUNDERING ADVISORY. Not later than one year following the date of the enactment of this Act, the Financial Crimes Enforcement Network shall update and issue a new advisory to financial institutions on identifying Chinese professional money laundering facilitating the trafficking of fentanyl and other synthetic opioids. Such advisory shall incorporate the following advisories: (1) FIN-2014-A005, entitled ``Update on U.S. Currency Restrictions in Mexico: Funnel Accounts and TBML''. (2) FIN-2010-A001, entitled ``Advisory to Financial Institutions on Filing Suspicious Activity Reports regarding Trade-Based Money Laundering''. (3) FIN-2019-A006, entitled ``Advisory to Financial Institutions on Illicit Financial Schemes and Methods Related to the Trafficking of Fentanyl and Other Synthetic Opioids''. SEC. 4. TREATMENT OF TRANSNATIONAL CRIMINAL ORGANIZATIONS IN SUSPICIOUS TRANSACTIONS. (a) Filing Instructions.--Not later than 180 days after the date of the enactment of this Act, the Director of the Financial Crimes Enforcement Network shall issue guidance or instructions to United States financial institutions for filing reports on suspicious transactions required by section 5318(g) of title 31, United States Code, related to suspected narcotics trafficking by transnational criminal organizations. (b) Prioritization of Reports Relating to Narcotics Trafficking or Transnational Criminal Organizations.--The Director shall prioritize research into reports described in subsection (a) that indicate a connection to trafficking of narcotics. (c) Briefing to Congress.--Not later than one year after the date of enactment of this Act, the Director shall brief 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 on the usefulness of the guidance or instructions issued under subsection (a). SEC. 5. REPORT ON LESSONS LEARNED FROM PREVIOUS DRUG CRISES. Not later than 360 days after the date of enactment of this Act, the Comptroller General of the United States, in consultation with the Department of the Treasury and other relevant agencies, shall provide 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 with an unclassified report and briefing on the lessons learned from previous drug crises, including the crack cocaine crisis of the 1980s, with respect to-- (1) how transnational criminal organizations target individual and community victims; (2) the negative impacts on those victims, including financial and health effects; (3) mitigation activities that were effective in lessening the targeting of these victims or the negative impacts on such victims; and (4) recommendations to confront such targeting, based on findings described under paragraphs (1), (2), and (3), that may be applied to the ongoing opioid crisis. Union Calendar No. 12 119th CONGRESS 1st Session H. R. 1577 [Report No. 119-22] _______________________________________________________________________ A BILL To provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes. _______________________________________________________________________ March 21, 2025 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed