S 1273 · 119th Congress · Crime and Law Enforcement

Combatting Money Laundering in Cyber Crime Act of 2025

Introduced 2025-04-03· Sponsored by Sen. Cortez Masto, Catherine [D-NV]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2025-04-03)

Plain Language Summary

[AI summary unavailable — showing source text] 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

Cosponsors (1)

1 Republican