This bill mandates the Secretary of Homeland Security, in coordination with the Secretaries of State, Commerce, and the Treasury, to develop a comprehensive strategy for the expanded use of Trade Transparency Units (TTUs) within 180 days. The strategy's primary goal is to enhance information sharing among various U.S. agencies, including U.S. Customs and Border Protection, Homeland Security Investigations, the Department of Commerce, and the Financial Crimes Enforcement Network, as well as with foreign customs agencies through TTUs. This expanded information sharing is crucial for improving intra-agency, inter-agency, and multilateral efforts to identify, disrupt, and dismantle international money laundering networks. The strategy must be submitted in an unclassified form, potentially with a classified annex, to appropriate congressional committees. Additionally, the Comptroller General is required to assess this strategy and report findings to Congress within 180 days of its submission.
This bill mandates the Secretary of Homeland Security, in coordination with the Secretaries of State, Commerce, and the Treasury, to develop a comprehensive strategy for the expanded use of Trade Transparency Units (TTUs) within 180 days. The strategy's primary goal is to enhance information sharing among various U.S. agencies, including U.S. Customs and Border Protection, Homeland Security Investigations, the Department of Commerce, and the Financial Crimes Enforcement Network, as well as with foreign customs agencies through TTUs. This expanded information sharing is crucial for improving intra-agency, inter-agency, and multilateral efforts to identify, disrupt, and dismantle international money laundering networks. The strategy must be submitted in an unclassified form, potentially with a classified annex, to appropriate congressional committees. Additionally, the Comptroller General is required to assess this strategy and report findings to Congress within 180 days of its submission.