I 

118TH CONGRESS 

1ST SESSION H. R. 1408 

To deter foreign financial institutions from providing banking services for 

the benefit of foreign terrorist organizations and from facilitating or 

promoting payments for acts of terrorism. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 7, 2023 

Mr. LAMBORN (for himself, Ms. TENNEY, Mr. BACON, Mr. WILSON of South 

Carolina, Mr. KUSTOFF, Mr. WEBER of Texas, Mr. FITZPATRICK, Mr. 

VARGAS, Mr. ROY, Mr. BABIN, Mr. DUNN of Florida, Mr. GOTTHEIMER, 

Mr. SMITH of Nebraska, and Mr. MILLER of Ohio) introduced the following bill; which was referred to the Committee on Financial Services 

A BILL 

To deter foreign financial institutions from providing banking 

services for the benefit of foreign terrorist organizations 

and from facilitating or promoting payments for acts 

of terrorism. 

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Taylor Force Martyr 

5 Payment Prevention Act of 2023’’. 


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1 SEC. 2. FINDINGS; SENSE OF CONGRESS. 

2 (a) FINDINGS.—Congress makes the following find3 ings: 

4 (1) Banks in nominally friendly jurisdictions 

5 evade United States anti-terrorism sanctions by 

6 avoiding an official presence in the United States, 

7 and continue to knowingly provide banking services, 

8 including dollar-denominated transactions, for ter9 rorist organizations that target United States na10 tionals for murder. 

11 (2) Such flouting of anti-terrorism financial 

12 regulations is only possible through the maintenance 

13 or use of correspondent accounts at United States 

14 banks for the benefit of terrorist organizations. 

15 (b) SENSE OF CONGRESS.—It is the sense of Con16 gress that under authority granted by section 5318A of 

17 title 31, United States Code, as amended by section 3, 

18 the Secretary of the Treasury should— 

19 (1) find foreign financial institutions that flout 

20 anti-terrorism financial regulations to be of primary 

21 money laundering concern; and 

22 (2) prohibit the maintenance or use of cor23 respondent accounts in the United States by such 

24 institutions. 


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1 SEC. 3. CONSIDERATION OF FACILITATION OF TERRORISM 

2 IN DESIGNATING INSTITUTIONS, ACCOUNTS, 

3 AND TRANSACTIONS AS OF PRIMARY MONEY 

4 LAUNDERING CONCERN. 

5 Section 5318A(c)(2)(B) of title 31, United States 

6 Code, is amended— 

7 (1) in the matter preceding clause (i), by strik8 ing ‘‘all 3’’ and inserting ‘‘all of the preceding’’; 

9 (2) in clause (ii), by striking ‘‘; and’’ and in10 serting a semicolon; 

11 (3) in clause (iii), by striking the period at the 

12 end and inserting a semicolon; and 

13 (4) by adding at the end the following: 

14 ‘‘(iv) notwithstanding clause (ii), the 

15 extent to which such institutions knowingly 

16 provide, or cause other financial institu17 tions to provide, financial services (includ18 ing personal banking services) to the entity 

19 described in subsection (a) of section 

20 594.319 of title 31, Code of Federal Regu21 lations (or a successor regulation), or per22 sons described in subsection (b) of that 

23 section; and 

24 ‘‘(v) the extent to which such institu25 tions, transactions, or types of accounts 

26 are used to facilitate or promote payments 


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1 for acts of terrorism described in section 

2 1004(a)(1)(B) of the Taylor Force Act (22 

3 U.S.C. 2378c–1(a)(1)(B)).’’. 

Æ 


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