S 1273 · 119th Congress · Crime and Law Enforcement
Combatting Money Laundering in Cyber Crime Act of 2025
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2025-04-03)
Plain Language Summary
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Combatting Money Laundering in Cyber Crime Act of 2025 This bill expands the investigative authority of the U.S. Secret Service, extends reporting requirements related to public-private information sharing, and requires the Government Accountability Office (GAO) to evaluate existing requirements to combat money laundering and related crimes. Specifically, the bill authorizes the Secret Service to investigate money laundering and structured transactions (i.e., structuring currency transactions to evade currency reporting requirements). Additionally, the bill extends the requirement for the Financial Crimes Enforcement Network (FinCEN) to report on the efforts of the FinCEN Exchange. The FinCEN Exchange is a voluntary public-private information sharing partnership among law enforcement agencies, national security agencies, financial institutions, and FinCEN to combat money laundering and related crimes, including the financing of terrorism. The bill also extends the requirement for the U.S. executive director at the International Monetary Fund to support the increased use of the fund's administrative budget to help members prevent money laundering and the financin…
Summarized by Claude AI · Non-partisan · For informational purposes only