National Strategy for Combating the Financing of Transnational Criminal Organizations Act

To require the President to develop a national strategy to combat the financial networks of transnational organized criminals, and for other purposes. 1. Short title This Act may be cited as the National Strategy for Combating the Financing of Transnational Criminal Organizations Act 2. National strategy (a) In general The President, acting through the Secretary of the Treasury, shall, in consultation with the Attorney General, the Secretary of State, the Secretary of Homeland Security, the Director of National Intelligence, the Secretary of Defense, the Director the Director of the Financial Crimes Enforcement Network, the Director of the United States Secret Service, the Director of the Federal Bureau of Investigation, the Administrator (b) Transmittal to Congress (1) In general Not later than one year after the enactment of this Act, the President shall submit to the appropriate Congressional committees and make available to the relevant government agencies as defined in subsection (a), a comprehensive national strategy in accordance with subsection (a). (2) Updates After the initial submission of the national strategy under paragraph (1), the President shall, not less often than every 2 years, update the national strategy and submit the updated strategy to the appropriate Congressional committees. (c) Separate presentation of classified material Any part of the national strategy that involves information that is properly classified under criteria established by the President shall be submitted to Congress separately in a classified annex and, if requested by the chairman or ranking member of one of the appropriate Congressional committees, as a briefing at an appropriate level of security. 3. Contents of national strategy The national strategy described in section 2 shall contain the following: (1) Threats An identification and assessment of the most significant current transnational organized crime threats posed to the national security of the United States or to the U.S. and international financial system kleptocrats, state and non-state threats Strategy to Combat Transnational Organized Crime (2) Illicit finance (A) An identification of individuals, entities, and networks (including terrorist organizations, if any) (B) An assessment of methods by which transnational organized crime groups launder illicit proceeds, including money laundering using real estate and other tangible goods such as art and antiquities, (3) Goals, objectives, priorities, and actions (A) A comprehensive, research-based , quantifiable (B) A description of how the strategy is integrated into, and supports, the national security strategy, drug control strategy, and counterterrorism strategy of the United States. (4) Reviews and proposed changes A review of current efforts to combat the financing or financial facilitation of transnational organized crime, including efforts to detect, deter, disrupt, and prosecute transnational organized crime groups and their supporters, and, if appropriate, proposed changes to any law or regulation determined to be appropriate to ensure that the United States pursues coordinated and effective efforts within the jurisdiction of the United States, including efforts or actions that are being taken or can be taken by financial institutions, efforts in cooperation with international partners of the United States, and efforts that build partnerships and global capacity to combat transnational organized crime. 4. Definitions In this Act: (1) Appropriate congressional committees The term appropriate congressional committees (A) the Committee on Financial Services, the Committee on Foreign Affairs, the Committee on Armed Services, the Committee on the Judiciary, the Committee on Homeland Security, and the Permanent Select Committee on Intelligence of the House of Representatives; and (B) the Committee on Banking, Housing, and Urban Affairs, the Committee on Foreign Relations, the Committee on Armed Services, the Committee on the Judiciary, the Committee on Homeland Security and Governmental Affairs, and the Select Committee on Intelligence of the Senate. (2) Federal functional regulator The term Federal functional regulator 15 U.S.C. 6809 (3) Transnational organized crime The term transnational organized crime (A) protecting their activities through a pattern of corruption or violence; or (B) while protecting their illegal activities through a transnational organizational structure and the exploitation of transnational commerce or communication mechanisms. February 13, 2018 Reported with amendments, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Summary: National Strategy for Combating the Financing of Transnational Criminal Organizations Act (Sec. 2) This bill directs the Department of the Treasury, in consultation with various U.S. agencies and departments, to develop a national strategy to combat the financial networks of transnational organized criminals. Treasury must submit to Congress and regularly update the national strategy. (Sec. 3) The national strategy must: identify and assess the most significant transnational organized crime threats; identify the individuals, entities, and networks that financially support or facilitate transnational organized criminals and assess the scope of such support; assess the methods by which transnational organized crime groups launder illicit proceeds; describe the roles of U.S. agencies and departments to combat the financing and financial facilitation of transnational organized crime groups; and review current efforts and proposed changes to combat the financing or financial facilitation of transnational organized crime.