In the Senate of the United States, 

December 10 (legislative day, December 9), 2016. 

Resolved, That the bill from the House of Representatives (H.R. 5602) entitled ‘‘An Act to amend title 31, United 

States Code, to authorize the Secretary of the Treasury to include all funds when issuing certain geographic targeting orders, and for other purposes.’’, do pass with the following 

AMENDMENT: 

Strike all after the enacting clause and insert the 

following: 

1 TITLE I—ENHANCING 

2 ANTITERRORISM TOOLS OF 

3 THE DEPARTMENT OF THE 

4 TREASURY 

5 SEC. 101. INCLUSION OF ALL FUNDS. 

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

7 States Code, is amended— 

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

9 ‘‘coin and currency’’; 
2 

† HR 5602 EAS 

1 (2) in subsection (a)— 

2 (A) by striking ‘‘subtitle and’’ and inserting 

3 ‘‘subtitle or to’’; and 

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

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

6 monetary instruments as the Secretary may de7 scribe in such order)’’ and inserting ‘‘funds (as 

8 the Secretary may describe in such order),’’; 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 as 

15 the Secretary may describe in the regulation or 

16 order)’’ and inserting ‘‘funds (as the Secretary 

17 may describe in the regulation or order)’’. 

18 (b) CLERICAL AMENDMENT.—The table of contents for 

19 chapter 53 of title 31, United States Code, is amended in 

20 the item relating to section 5326 by striking ‘‘coin and cur21 rency’’. 

22 SEC. 102. IMPROVING ANTITERROR FINANCE MONITORING 

23 OF FUNDS TRANSFERS. 

24 (a) STUDY.— 
3 

† HR 5602 EAS 

1 (1) IN GENERAL.—To improve the ability of the 

2 Department of the Treasury to better track cross-bor3 der fund transfers and identify potential financing of 

4 terrorist or other forms of illicit finance, the Sec5 retary shall carry out a study to assess— 

6 (A) the potential efficacy of requiring bank7 ing regulators to establish a pilot program to 

8 provide technical assistance to depository insti9 tutions and credit unions that wish to provide 

10 account services to money services businesses 

11 serving individuals in Somalia; 

12 (B) whether such a pilot program could be 

13 a model for improving the ability of United 

14 States persons to make legitimate funds transfers 

15 through transparent and easily monitored chan16 nels while preserving strict compliance with the 

17 Bank Secrecy Act (Public Law 91–508; 84 Stat. 

18 1114) and related controls aimed at stopping 

19 money laundering and the financing of ter20 rorism; and 

21 (C) consistent with current legal require22 ments regarding confidential supervisory infor23 mation, the potential impact of allowing money 

24 services businesses to share certain State exam25 ination information with depository institutions 
4 

† HR 5602 EAS 

1 and credit unions, or whether another appro2 priate mechanism could be identified to allow a 

3 similar exchange of information to give the de4 pository institutions and credit unions a better 

5 understanding of whether an individual money 

6 services business is adequately meeting its anti7 money laundering and counter-terror financing 

8 obligations to combat money laundering, the fi9 nancing of terror, or related illicit finance. 

10 (2) PUBLIC INPUT.—The Secretary should solicit 

11 and consider public input as appropriate in devel12 oping this study. 

13 (b) REPORT.—Not later than 270 days after the date 

14 of the enactment of this Act, the Secretary shall submit to 

15 the Committee on Financial Services and the Committee 

16 on Foreign Affairs of the House of Representatives and the 

17 Committee on Banking, Housing, and Urban Affairs and 

18 the Committee on Foreign Relations of the Senate a report 

19 that contains all findings and determinations made in car20 rying out the study required under subsection (a). 

21 SEC. 103. SENSE OF CONGRESS ON INTERNATIONAL CO22 OPERATION REGARDING TERRORIST FINANC23 ING INTELLIGENCE. 

24 It is the sense of the Congress that the Secretary, acting 

25 through the Under Secretary for Terrorism and Financial 
5 

† HR 5602 EAS 

1 Crimes, should intensify work with foreign partners to help 

2 the foreign partners develop intelligence analytic capacities, 

3 in a finance ministry or other appropriate agency, that 

4 are— 

5 (1) commensurate to the threats faced by the for6 eign partner; and 

7 (2) designed to better integrate intelligence efforts 

8 with the anti-money laundering and counter-terrorist 

9 financing regimes of the foreign partner. 

10 SEC. 104. EXAMINING THE COUNTER-TERROR FINANCING 

11 ROLE OF THE DEPARTMENT OF THE TREAS12 URY IN EMBASSIES. 

13 Not later than 180 days after the enactment of this 

14 Act, the Secretary shall submit to the Committee on Finan15 cial Services and the Committee on Foreign Affairs of the 

16 House of Representatives and the Committee on Banking, 

17 Housing, and Urban Affairs and the Committee on Foreign 

18 Relations of the Senate a report that contains— 

19 (1) a list of the United States embassies in which 

20 a full-time Department of the Treasury financial 

21 attache ́ is stationed and a description of how the in22 terests of the Department of the Treasury relating to 

23 terrorist financing and money laundering are ad24 dressed (via regional attache ́s or otherwise) at US em25 bassies where no such attache ́s are present; 
6 

† HR 5602 EAS 

1 (2) a list of the United States embassies at which 

2 the Department of the Treasury has assigned a tech3 nical assistance advisor from the Office of Technical 

4 Assistance of the Department of the Treasury; 

5 (3) an overview of how Department of the Treas6 ury financial attache ́s and technical assistance advi7 sors assist in efforts to counter illicit finance, to in8 clude money laundering, terrorist financing, and pro9 liferation financing; and 

10 (4) an overview of patterns, trends, or other 

11 issues identified by Department of the Treasury 

12 attache ́s and whether resources are sufficient to ad13 dress these issues. 

14 TITLE II—NATIONAL STRATEGY 

15 FOR COMBATING TERRORIST 

16 AND OTHER ILLICIT FINANC17 ING 

18 SEC. 201. DEVELOPMENT OF NATIONAL STRATEGY. 

19 (a) IN GENERAL.—The President, acting through the 

20 Secretary shall, in consultation with the Attorney General, 

21 the Secretary of State, the Secretary of Homeland Security, 

22 the Director of National Intelligence, and the appropriate 

23 Federal banking agencies, develop a national strategy for 

24 combating the financing of terrorism and related forms of 

25 illicit finance. 
7 

† HR 5602 EAS 

1 (b) TRANSMITTAL TO CONGRESS.— 

2 (1) IN GENERAL.—Not later than January 31, 

3 2018, the President shall submit to the appropriate 

4 congressional committees a comprehensive national 

5 strategy developed in accordance with subsection (a). 

6 (2) UPDATES.—Not later than January 31, 

7 2020, and January 31, 2022, the President shall sub8 mit to the appropriate congressional committees up9 dated versions of the national strategy submitted 

10 under paragraph (1). 

11 (c) SEPARATE PRESENTATION OF CLASSIFIED MATE12 RIAL.—Any part of the national strategy that involves in13 formation that is properly classified under criteria estab14 lished by the President shall be submitted to the Congress 

15 separately in a classified annex and, if requested by the 

16 chairman or ranking Member of one of the appropriate con17 gressional committees, as a briefing at an appropriate level 

18 of security. 

19 SEC. 202. CONTENTS. 

20 (a) IN GENERAL.—The strategy described in section 

21 201 shall contain the following: 

22 (1) EVALUATION OF EXISTING EFFORTS.—An as23 sessment of the effectiveness of and ways in which the 

24 United States is currently addressing the highest lev25 els of risk of various forms of illicit finance, including 
8 

† HR 5602 EAS 

1 those identified in the documents entitled ‘‘2015 Na2 tional Money Laundering Risk Assessment’’ and 

3 ‘‘2015 National Terrorist Financing Risk Assess4 ment’’, published by the Department of the Treasury 

5 and a description of how the strategy is integrated 

6 into, and supports, the broader counter terrorism 

7 strategy of the United States. 

8 (2) GOALS, OBJECTIVES, AND PRIORITIES.—A 

9 comprehensive, research-based, long-range, quantifi10 able discussion of goals, objectives, and priorities for 

11 disrupting and preventing illicit finance activities 

12 within and transiting the financial system of the 

13 United States that outlines priorities to reduce the in14 cidence, dollar value, and effects of illicit finance. 

15 (3) THREATS.—An identification of the most sig16 nificant illicit finance threats to the financial system 

17 of the United States. 

18 (4) REVIEWS AND PROPOSED CHANGES.—Re19 views of enforcement efforts, relevant regulations and 

20 relevant provisions of law and, if appropriate, discus21 sions of proposed changes determined to be appro22 priate to ensure that the United States pursues co23 ordinated and effective efforts at all levels of govern24 ment, and with international partners of the United 

25 States, in the fight against illicit finance. 
9 

† HR 5602 EAS 

1 (5) DETECTION AND PROSECUTION INITIA2 TIVES.—A description of efforts to improve detection 

3 and prosecution of illicit finance, including efforts to 

4 ensure that— 

5 (A) subject to legal restrictions, all appro6 priate data collected by the Federal Government 

7 that is relevant to the efforts described in this 

8 section be available in a timely fashion to— 

9 (i) all appropriate Federal depart10 ments and agencies; and 

11 (ii) as appropriate and consistent with 

12 section 314 of the International Money 

13 Laundering Abatement and Financial Anti14 Terrorism Act of 2001 (31 U.S.C. 5311 

15 note), to financial institutions to assist the 

16 financial institutions in efforts to comply 

17 with laws aimed at curbing illicit finance; 

18 and 

19 (B) appropriate efforts are undertaken to 

20 ensure that Federal departments and agencies 

21 charged with reducing and preventing illicit fi22 nance make thorough use of publicly available 

23 data in furtherance of this effort. 

24 (6) THE ROLE OF THE PRIVATE FINANCIAL SEC25 TOR IN PREVENTION OF ILLICIT FINANCE.—A discus-
10 

† HR 5602 EAS 

1 sion of ways to enhance partnerships between the pri2 vate financial sector and Federal departments and 

3 agencies with regard to the prevention and detection 

4 of illicit finance, including— 

5 (A) efforts to facilitate compliance with 

6 laws aimed at stopping such illicit finance while 

7 maintaining the effectiveness of such efforts; and 

8 (B) providing guidance to strengthen inter9 nal controls and to adopt on an industry-wide 

10 basis more effective policies. 

11 (7) ENHANCEMENT OF INTERGOVERNMENTAL CO12 OPERATION.—A discussion of ways to combat illicit 

13 finance by enhancing— 

14 (A) cooperative efforts between and among 

15 Federal, State, and local officials, including 

16 State regulators, State and local prosecutors, and 

17 other law enforcement officials; 

18 (B) cooperative efforts with and between 

19 governments of countries and with and between 

20 multinational institutions, including the Finan21 cial Action Task Force, with expertise in fighting 

22 illicit finance. 

23 (8) TREND ANALYSIS OF EMERGING ILLICIT FI24 NANCE THREATS.—A discussion of and data regard25 ing trends in illicit finance, including evolving forms 
11 

† HR 5602 EAS 

1 of value transfer such as so-called cryptocurrencies, 

2 other methods that are computer, telecommunications, 

3 or Internet-based, cyber crime, or any other threats 

4 that the Secretary may choose to identify. 

5 (9) BUDGET PRIORITIES.—A multiyear budget 

6 plan that identifies sufficient resources needed to suc7 cessfully execute the full range of missions called for 

8 in this section. 

9 (10) TECHNOLOGY ENHANCEMENTS.—An anal10 ysis of current and developing ways to leverage tech11 nology to improve the effectiveness of efforts to stop 

12 the financing of terrorism and other forms of illicit 

13 finance, including better integration of open-source 

14 data. 

15 TITLE III—DEFINITIONS 

16 SEC. 301. DEFINITIONS. 

17 In this Act— 

18 (1) the term ‘‘appropriate congressional commit19 tees’’ means— 

20 (A) the Committee on Financial Services, 

21 the Committee on Foreign Affairs, the Committee 

22 on Armed Services, the Committee on the Judici23 ary, Committee on Homeland Security, and the 

24 Permanent Select Committee on Intelligence of 

25 the House of Representatives; and 
12 

† HR 5602 EAS 

1 (B) the Committee on Banking, Housing, 

2 and Urban Affairs, the Committee on Foreign 

3 Relations, Committee on Armed Services, Com4 mittee on the Judiciary, Committee on Home5 land Security and Governmental Affairs, and the 

6 Select Committee on Intelligence of the Senate; 

7 (2) the term ‘‘appropriate Federal banking agen8 cies’’ has the meaning given the term in section 3 of 

9 the Federal Deposit Insurance Act (12 U.S.C. 1813); 

10 (3) the term ‘‘Bank Secrecy Act’’ means— 

11 (A) section 21 of the Federal Deposit Insur12 ance Act (12 U.S.C. 1829b); 

13 (B) chapter 2 of title I of Public Law 91– 

14 508 (12 U.S.C. 1951 et seq.); and 

15 (C) subchapter II of chapter 53 of title 31, 

16 United States Code; 

17 (4) the term ‘‘illicit finance’’ means the financ18 ing of terrorism, money laundering, or other forms of 

19 illicit financing domestically or internationally, as 

20 defined by the President; 

21 (5) the term ‘‘money services business’’ has the 

22 meaning given the term under section 1010.100 of 

23 title 31, Code of Federal Regulations; 

24 (6) the term ‘‘Secretary’’ means the Secretary of 

25 the Treasury; and 
13 

† HR 5602 EAS 

1 (7) the term ‘‘State’’ means each of the several 

2 States, the District of Columbia, and each territory or 

3 possession of the United States. 

Attest: 

Secretary. 
114TH CONGRESS 

2D SESSION H.R. 5602 

AMENDMENT