IIB 

114TH CONGRESS 

2D SESSION H. R. 5607 

IN THE SENATE OF THE UNITED STATES 

JULY 12, 2016 

Received; read twice and referred to the Committee on Banking, Housing, and 

Urban Affairs 

AN ACT 

To enhance the Department of the Treasury’s role in 

protecting national security, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Enhancing Treasury’s 

3 Anti-Terror Tools Act’’. 

4 SEC. 2. EXAMINING THE DEPARTMENT OF THE TREASURY’S 

5 COUNTER-TERROR FINANCING ROLE IN EM6 BASSIES. 

7 Within 180 days of the enactment of this Act, the 

8 Secretary of the Treasury shall issue a report to the Com9 mittees on Financial Services and Foreign Affairs of the 

10 House of Representatives and the Committees on Bank11 ing, Housing, and Urban Affairs and Foreign Relations 

12 of the Senate containing— 

13 (1) a list of the United States embassies in 

14 which a full-time Department of the Treasury 

15 attache ́ is stationed; 

16 (2) a list of the United States embassies at 

17 which a Department of the Treasury attache ́ is as18 signed for temporary duty, the length of such as19 signments, and the reason why such assignments are 

20 not considered to be a permanent assignments; 

21 (3) how the Department of the Treasury’s in22 terests relating to anti-terror finance, money laun23 dering, and related illicit finance issues are handled 

24 at other embassies, including a discussion of the re25 porting structure by which such issues are brought 

26 to the direct attention of the ambassador; 


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1 (4) a description of the role the Department of 

2 the Treasury attache ́s play in advancing America’s 

3 anti-terrorism financing interests; 

4 (5) a discussion of patterns, trends, or other 

5 issues identified by Department of the Treasury 

6 attache ́s in the previous year concerning anti-terror 

7 finance, money laundering, and related illicit fi8 nance; 

9 (6) recommendations to improve coordination 

10 between the Department of the Treasury and foreign 

11 financial ministries of efforts to block the financing 

12 of terror, money laundering, and related illicit fi13 nance; and 

14 (7) a discussion of whether the Department of 

15 the Treasury’s interests relating to anti-terror fi16 nance, money laundering, or related illicit finance 

17 issues are thought to be under-represented in some 

18 embassies or regions. 

19 SEC. 3. CLARIFYING REQUIREMENTS FOR RECORD20 KEEPING. 

21 (a) IN GENERAL.—Section 5326 of title 31, United 

22 States Code, is amended— 

23 (1) in the heading of such section, by striking 

24 ‘‘coin and currency’’; 

25 (2) in subsection (a)— 


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1 (A) by striking ‘‘subtitle and’’ and insert2 ing ‘‘subtitle or to’’; and 

3 (B) in paragraph (1)(A), by striking 

4 ‘‘United States coins or currency (or such other 

5 monetary instruments as the Secretary may de6 scribe in such order)’’ and inserting ‘‘funds (as 

7 the Secretary may describe in such order),’’; 

8 and 

9 (3) in subsection (b)— 

10 (A) in paragraph (1)(A), by striking ‘‘coins 

11 or currency (or monetary instruments)’’ and in12 serting ‘‘funds’’; and 

13 (B) in paragraph (2), by striking ‘‘coins or 

14 currency (or such other monetary instruments 

15 as the Secretary may describe in the regulation 

16 or order)’’ and inserting ‘‘funds (as the Sec17 retary may describe in the regulation or 

18 order)’’. 

19 (b) CLERICAL AMENDMENT.—The table of contents 

20 for chapter 53 of title 31, United States Code, is amended 

21 in the item relating to section 5326 by striking ‘‘coin and 

22 currency’’. 

23 SEC. 4. STUDY OF BUREAU STATUS. 

24 (a) STUDY.—The Secretary of the Treasury shall 

25 carry out a study on the advisability and implications of 


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1 transforming the Office of Terrorism and Financial Intel2 ligence into a standalone bureau of the Department of the 

3 Treasury, and the effects such a move would have on the 

4 Department of the Treasury’s efforts to stop money laun5 dering, the financing of terror, and related illicit finance. 

6 (b) REPORT.—Within 270 days of the date of the en7 actment of this Act, the Secretary of the Treasury shall 

8 issue a report to the Committee on Financial Services and 

9 the Permanent Select Committee on Intelligence of the 

10 House of Representatives and the Committee on Banking, 

11 Housing, and Urban Affairs and the Select Committee on 

12 Intelligence of the Senate containing all findings and de13 terminations made in carrying out the study required 

14 under subsection (a). 

15 SEC. 5. IMPROVING ANTI-TERROR FINANCE MONITORING 

16 OF FUNDS TRANSFERS. 

17 (a) STUDY.—To improve the Department of the 

18 Treasury’s ability to better track cross-border fund trans19 fers and identify potential financing of terror or other il20 licit finance, the Secretary of the Treasury shall carry out 

21 a study to assess— 

22 (1) the potential efficacy of requiring banking 

23 regulators to establish a pilot program to provide 

24 technical assistance to depository institutions and 

25 credit unions that wish to provide account services 


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1 to money services businesses serving individuals in 

2 Somalia; 

3 (2) whether such a pilot program could be a 

4 model for improving the ability of Americans to le5 gitimately send funds to their loved ones through 

6 transparent and easily monitored channels; and 

7 (3) the potential impact of allowing money serv8 ices businesses to share their State examinations 

9 with depository institutions and credit unions, or if 

10 another mechanism could be found to allow a similar 

11 exchange of information that would give such deposi12 tory institutions and credit unions a better under13 standing of whether an individual money services 

14 business is adequately meeting its anti-money laun15 dering and counter terror financing obligations to 

16 combat money laundering, the financing of terror, or 

17 related illicit finance. 

18 (b) REPORT.—Within 270 days of the date of the en19 actment of this Act, the Secretary of the Treasury shall 

20 issue a report to the Committees on Financial Services 

21 and Foreign Affairs of the House of Representatives and 

22 the Committees on Banking, Housing, and Urban Affairs 

23 and Foreign Relations of the Senate containing all find24 ings and determinations made in carrying out the study 

25 required under subsection (a). 


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1 (c) MONEY SERVICES BUSINESS DEFINED.—For 

2 purposes of this section, the term ‘‘money services busi3 ness’’ has the meaning given that term under section 

4 1010.100 of title 31, Code of Federal Regulations. 

5 SEC. 6. SENSE OF CONGRESS. 

6 It is the sense of the Congress that the Secretary of 

7 the Treasury, acting in the Secretary’s own capacity and 

8 through the Under Secretary for Terrorism and Financial 

9 Crimes, should work with finance ministry counterparts 

10 worldwide to spur the development within such ministries 

11 of entities similar to the Department of the Treasury’s 

12 Office of Intelligence and Analysis to more solidly inte13 grate the intelligence community with anti-money laun14 dering and counter-terrorist financing efforts. 

Passed the House of Representatives July 11, 2016. 

Attest: KAREN L. HAAS, 

Clerk. 


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