Stop Fentanyl Money Laundering Act of 2025
- Last Action
- 3/21/2025
Actions
- 2025-03-21Placed on the Union Calendar, Calendar No. 12.
- 2025-03-21Reported (Amended) by the Committee on Financial Services. H. Rept. 119-22.
- 2025-03-21Reported (Amended) by the Committee on Financial Services. H. Rept. 119-22.
- 2025-03-05Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.
- 2025-03-05Committee Consideration and Mark-up Session Held
- 2025-02-25Referred to the House Committee on Financial Services.
- 2025-02-25Introduced in House
- 2025-02-25Introduced in House
CRS Summary
As of 2025-02-25 (00)
Stop Fentanyl Money Laundering Act of 2025
This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution.
The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity.
The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations.
Cosponsors (9)
- Monica De La Cruz (R-TX)
- Daniel Meuser (R-PA)
- Zachary Nunn (R-IA)
- Young Kim (R-CA)
- Pete Sessions (R-TX)
- CLEO FIELDS (D-LA)
- Tim Moore (R-NC)
- Andy Barr (R-KY)
- Michael Lawler (R-NY)
Subjects
- Asia
- China
- Civil actions and liability
- Congressional oversight
- Currency
- Drug trafficking and controlled substances
- Fraud offenses and financial crimes
- Government studies and investigations
- International monetary system and foreign exchange
- Latin America
- Mexico
- Organized crime
- Terrorism
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.