Pedophile Financial Accountability Act

This legislation requires the Director of the Financial Crimes Enforcement Network (FinCEN) to conduct a comprehensive investigation into potential violations of the Bank Secrecy Act by financial institutions and their employees. The focus of this inquiry is specifically on the handling of transactions involving Jeffrey Epstein and his co-conspirators. The investigation will examine whether employees failed to properly screen and report suspicious activity in a timely manner, as well as the circumstances surrounding significant delays and underreporting of suspicious activity reports (SARs) by institutions like JPMorgan Chase and Bank of America. The investigation will also delve into decisions by financial institutions to delay reporting the full extent of Epstein's suspicious activity and whether employees requested substantiation for large payments made by or to Epstein. It further requires an examination of whether financial institutions utilized authorities under the USA PATRIOT Act to screen large transfers and the conduct of senior executives who allowed employees to continue working with Epstein despite money laundering concerns. FinCEN is mandated to submit a report to Congress within 100 days, which may include information from SARs, and to make appropriate referrals to the Attorney General for any determined willful violations of anti-money laundering laws.