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Stop Fentanyl Money Laundering Act of 2023

USA118th CongressHR-3244| House 
| Updated: 12/19/2024
Blaine Luetkemeyer

Blaine Luetkemeyer

Republican Representative

Missouri

Cosponsors (8)
Zachary Nunn (Republican)Young Kim (Republican)Daniel Meuser (Republican)Andy Barr (Republican)Brittany Pettersen (Democratic)Monica De La Cruz (Republican)Michael Lawler (Republican)Nick LaLota (Republican)

Financial Services Committee, Judiciary Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Stop Fentanyl Money Laundering Act of 2023 This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution. The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity. The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations. The Government Accountability Office must report on the implications of the Department of State designating Mexican drug cartels as foreign terrorist organizations.

Bill Text Versions

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Timeline
May 11, 2023
Introduced in House
May 11, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 26, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.
Jul 26, 2023
Committee Consideration and Mark-up Session Held
Nov 29, 2024
House Committee on the Judiciary Granted an extension for further consideration ending not later than Dec. 19, 2024.
Nov 29, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-783, Part I.
Dec 19, 2024
Placed on the Union Calendar, Calendar No. 780.
Dec 19, 2024
Committee on the Judiciary discharged.
  • May 11, 2023
    Introduced in House


  • May 11, 2023
    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.


  • July 26, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.


  • July 26, 2023
    Committee Consideration and Mark-up Session Held


  • November 29, 2024
    House Committee on the Judiciary Granted an extension for further consideration ending not later than Dec. 19, 2024.


  • November 29, 2024
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-783, Part I.


  • December 19, 2024
    Placed on the Union Calendar, Calendar No. 780.


  • December 19, 2024
    Committee on the Judiciary discharged.

Finance and Financial Sector

AsiaChinaCivil actions and liabilityCongressional oversightCurrencyDrug trafficking and controlled substancesFraud offenses and financial crimesGovernment studies and investigationsInternational monetary system and foreign exchangeLatin AmericaMexicoOrganized crimeTerrorism

Stop Fentanyl Money Laundering Act of 2023

USA118th CongressHR-3244| House 
| Updated: 12/19/2024
Stop Fentanyl Money Laundering Act of 2023 This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution. The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity. The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations. The Government Accountability Office must report on the implications of the Department of State designating Mexican drug cartels as foreign terrorist organizations.

Bill Text Versions

View Text
2 versions available

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 11, 2023
Introduced in House
May 11, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 26, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.
Jul 26, 2023
Committee Consideration and Mark-up Session Held
Nov 29, 2024
House Committee on the Judiciary Granted an extension for further consideration ending not later than Dec. 19, 2024.
Nov 29, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-783, Part I.
Dec 19, 2024
Placed on the Union Calendar, Calendar No. 780.
Dec 19, 2024
Committee on the Judiciary discharged.
  • May 11, 2023
    Introduced in House


  • May 11, 2023
    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.


  • July 26, 2023
    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 49 - 0.


  • July 26, 2023
    Committee Consideration and Mark-up Session Held


  • November 29, 2024
    House Committee on the Judiciary Granted an extension for further consideration ending not later than Dec. 19, 2024.


  • November 29, 2024
    Reported (Amended) by the Committee on Financial Services. H. Rept. 118-783, Part I.


  • December 19, 2024
    Placed on the Union Calendar, Calendar No. 780.


  • December 19, 2024
    Committee on the Judiciary discharged.
Blaine Luetkemeyer

Blaine Luetkemeyer

Republican Representative

Missouri

Cosponsors (8)
Zachary Nunn (Republican)Young Kim (Republican)Daniel Meuser (Republican)Andy Barr (Republican)Brittany Pettersen (Democratic)Monica De La Cruz (Republican)Michael Lawler (Republican)Nick LaLota (Republican)

Financial Services Committee, Judiciary Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
AsiaChinaCivil actions and liabilityCongressional oversightCurrencyDrug trafficking and controlled substancesFraud offenses and financial crimesGovernment studies and investigationsInternational monetary system and foreign exchangeLatin AmericaMexicoOrganized crimeTerrorism