To update dollar amount thresholds for certain currency transaction reports and suspicious activity reports, to improve the sharing of suspicious activity reports within a financial group, and for other purposes.
USA115th CongressHR-6068| House
| Updated: 6/12/2018
Stevan Pearce
Republican Representative
New Mexico
Terrorism and Illicit Finance Subcommittee, Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Counter Terrorism and Illicit Finance Act This bill (1) increases the threshold dollar amounts above which financial institutions are required to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN), (2) directs FinCEN to establish a process for no-action letters, and (3) modifies other provisions related to anti-money laundering and counterterrorist financing.
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Timeline
Hearings Held by the Subcommittee on Terrorism and Illicit Finance Prior to Introduction and Referral.
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Administrative law and regulatory proceduresAdvanced technology and technological innovationsBank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsCivil actions and liabilityCongressional oversightCriminal investigation, prosecution, interrogationCurrencyDepartment of the TreasuryForeign and international bankingFraud offenses and financial crimesGovernment information and archivesGovernment studies and investigationsIntelligence activities, surveillance, classified informationSmall businessTerrorismUser charges and fees
To update dollar amount thresholds for certain currency transaction reports and suspicious activity reports, to improve the sharing of suspicious activity reports within a financial group, and for other purposes.
USA115th CongressHR-6068| House
| Updated: 6/12/2018
Counter Terrorism and Illicit Finance Act This bill (1) increases the threshold dollar amounts above which financial institutions are required to file currency-transaction and suspicious-activity reports with the Financial Crimes Enforcement Network (FinCEN), (2) directs FinCEN to establish a process for no-action letters, and (3) modifies other provisions related to anti-money laundering and counterterrorist financing.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Hearings Held by the Subcommittee on Terrorism and Illicit Finance Prior to Introduction and Referral.
Introduced in House
Referred to the House Committee on Financial Services.
Stevan Pearce
Republican Representative
New Mexico
Terrorism and Illicit Finance Subcommittee, Financial Services Committee
Finance and Financial Sector
Related Bills
- HR 115-6851: To direct the Attorney General to assess the usefulness of Bank Secrecy Act reporting, and for other purposes.
- HR 115-6861: To amend title 31, United States Code, with respect to FinCEN no-action letters, and for other purposes.
- HR 115-6865: To direct the Comptroller General of the United States to conduct certain studies, and for other purposes.
- HR 115-6849: To amend title 31, United States Code, to encourage the use of technological innovations, and for other purposes.
- HR 115-6853: To amend title 31, United States Code, with respect to sharing of suspicious activity reports within a financial group, and for other purposes.
- HR 115-6892: To streamline requirements for currency transaction reports and suspicious activity reports, and for other purposes.
- HR 115-6858: To require the Treasury to take a more prominent role in coordinating AML/CFT policy and examinations across the Government, and for other purposes.
- HR 115-6850: To update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes.
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresAdvanced technology and technological innovationsBank accounts, deposits, capitalBanking and financial institutions regulationBusiness recordsCivil actions and liabilityCongressional oversightCriminal investigation, prosecution, interrogationCurrencyDepartment of the TreasuryForeign and international bankingFraud offenses and financial crimesGovernment information and archivesGovernment studies and investigationsIntelligence activities, surveillance, classified informationSmall businessTerrorismUser charges and fees