This bill aims to significantly enhance federal efforts against financial crimes by broadening the scope of prohibited activities and strengthening enforcement mechanisms. It introduces several key provisions, including clarifying that blank bearer checks intended to avoid reporting requirements are considered to exceed $10,000 if the underlying account holds that amount. This closes a potential loophole for illicit financial transfers. The legislation increases the maximum prison sentence for bulk cash smuggling from 5 to 10 years and imposes enhanced fines for aggravated cases. It also addresses money laundering through commingled funds and aggregated transactions , allowing prosecutors to meet the $10,000 threshold even if individual transactions are smaller or funds are mixed with legitimate money. Furthermore, it permits charging multiple money laundering violations as a single course of conduct, streamlining prosecutions. A major focus is on illegal money services businesses (MSBs) , redefining them to include operations without state licenses or federal registration, or those knowingly handling criminal proceeds. Penalties for these offenses are substantially increased, with up to 10 years imprisonment for transactions exceeding $1,000,000. The bill also clarifies that informal value transfer systems, such as hawalas, are explicitly covered under money laundering statutes. To bolster investigative capabilities, the bill restores and clarifies wiretap authority for certain currency reporting, money laundering, and counterfeiting offenses. It expands the international money laundering statute to explicitly cover transactions intended to promote or support tax evasion . Counterfeiting prohibitions are also strengthened by criminalizing the possession of equipment used to make fake U.S. or foreign obligations and by making it a felony to possess obligations with removed counterfeit deterrents. Finally, the bill clarifies the Secret Service's authority to investigate money laundering, structured transactions, and unlicensed money transmitting, removing the "federally insured" limitation. It also mandates that the Secretary of the Treasury conduct a comprehensive threat and operational analysis of how remittances are used by criminal organizations for illicit financing, followed by a strategy and implementation plan to mitigate these threats, while considering the lawful uses of remittances.