‘‘(I) a certification that the exten-
sion is in the national interest of the 
United States, with a detailed expla-
nation of the reasons therefor; 
‘‘(II) an evaluation of the useful-
ness of the pilot program, including a 
detailed analysis of any illicit activity 
identified or prevented as a result of 
the program; and 
‘‘(III) a detailed legislative pro-
posal providing for a long-term exten-
sion of the pilot program activities, in-
cluding expected budgetary resources 
for the activities, if the Secretary deter-
mines that a long-term extension is ap-
propriate. 
‘‘(C) PROHIBITION INVOLVING CERTAIN JU-
RISDICTIONS.—In issuing the regulations re-
quired under subparagraph (A), the Secretary 
may not permit a financial institution to share 
information on reports under this subsection 
with a foreign branch, subsidiary, or affiliate lo-
cated in a jurisdiction that— 
‘‘(i) is subject to countermeasures im-
posed by the Federal Government; or 
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‘‘(ii) the Secretary has determined can-
not reasonably protect the privacy and con-
fidentiality of such information. 
‘‘(D) 
IMPLEMENTATION
UPDATES.—Not 
later than 360 days after the date rules are 
issued under subparagraph (A), and annually 
thereafter for three years, the Secretary, or the 
Secretary’s designee, shall brief the Committee on 
Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate on— 
‘‘(i) the degree of any information 
sharing permitted under the pilot program, 
and a description of criteria used by the 
Secretary to evaluate the appropriateness of 
the information sharing; 
‘‘(ii) the effectiveness of the pilot pro-
gram in identifying or preventing the viola-
tion of a United States law or regulation, 
and mechanisms that may improve such ef-
fectiveness; and 
‘‘(iii) any recommendations to amend 
the design of the pilot program, or to in-
clude specific non-OECD jurisdictions in 
the program. 
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‘‘(6) TREATMENT
OF
FOREIGN
JURISDICTION- 
ORIGINATED REPORTS.—A report received by a finan-
cial institution from a foreign affiliate with respect 
to a suspicious transaction relevant to a possible vio-
lation of law or regulation shall be subject to the same 
confidentiality requirements provided under this sub-
section for a report of a suspicious transaction de-
scribed under paragraph (1).’’. 
(2) 
NOTIFICATION
PROHIBITIONS.—Section 
5318(g)(2)(A) of title 31, United States Code, is 
amended— 
(A) in clause (i), by inserting after ‘‘trans-
action has been reported’’ the following: ‘‘or oth-
erwise reveal any information that would reveal 
that the transaction has been reported, including 
materials prepared or used by the financial in-
stitution for the purpose of identifying and de-
tecting potentially suspicious activity’’; and 
(B) in clause (ii), by inserting after ‘‘trans-
action has been reported,’’ the following: ‘‘or oth-
erwise reveal any information that would reveal 
that the transaction has been reported, including 
materials prepared or used by the financial in-
stitution for the purpose of identifying and de-
tecting potentially suspicious activity,’’. 
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(b) RULEMAKING.—Not later than the end of the 1- 
year period beginning on the date of enactment of this Act, 
the Secretary of the Treasury shall issue regulations to 
carry out the amendments made by this section. 
SEC. 202. TRAINING FOR EXAMINERS ON AML/CFT. 
(a) IN GENERAL.—Subchapter II of chapter 53 of title 
31, United States Code, is amended by adding at the end 
the following: 
‘‘§ 5333. AML/CFT Training 
‘‘(a) TRAINING REQUIREMENT.—Each Federal exam-
iner reviewing compliance with the Bank Secrecy Act shall 
attend at least 10 hours of annual training on anti-money 
laundering (AML) and the countering of the financing of 
terrorism (CFT), including— 
‘‘(1) potential risk profiles and red flags that 
may be encountered during examinations; 
‘‘(2) financial crime patterns and trends; 
‘‘(3) the high-level context for why AML and 
CFT programs are necessary for law enforcement 
agencies and other national security agencies, and 
what risks the programs seek to mitigate; and 
‘‘(4) de-risking and its effect on the provision of 
financial services. 
‘‘(b) TRAINING MATERIALS
AND STANDARDS.—The 
Secretary of the Treasury shall, in consultation with the 
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Financial Institutions Examination Council, the Financial 
Crimes Enforcement Network, and State, Federal, and 
Tribal law enforcement agencies, establish appropriate 
training materials and standards for use in the training 
required under subsection (a).’’. 
(b) CLERICAL AMENDMENT.—The table of contents for 
chapter 53 of title 31, United States Code, is amended by 
inserting after the item relating to section 5332 the fol-
lowing: 
‘‘5333. AML/CFT Training.’’. 
SEC. 203. SHARING OF COMPLIANCE RESOURCES. 
(a) IN GENERAL.—Section 5318 of title 31, United 
States Code, is amended by adding at the end the following: 
‘‘(o) SHARING OF COMPLIANCE RESOURCES.— 
‘‘(1) SHARING PERMITTED.—Two or more finan-
cial institutions may enter into collaborative arrange-
ments in order to more efficiently comply with the re-
quirements of this subchapter. 
‘‘(2) OUTREACH.—The Secretary of the Treasury 
and the appropriate supervising agencies shall carry 
out an outreach program to provide financial institu-
tions with information, including best practices, with 
respect to the sharing of resources described under 
paragraph (1).’’. 
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(b) RULE OF CONSTRUCTION.—The amendment made 
by subsection (a) may not be construed to require financial 
institutions to share resources. 
SEC. 204. GAO STUDY ON FEEDBACK LOOPS. 
(a) STUDY.—The Comptroller General of the United 
States shall carry out a study on— 
(1) best practices within the United States Gov-
ernment for providing feedback (‘‘feedback loop’’) to 
relevant parties (including regulated private entities) 
on the usage and usefulness of personally identifiable 
information 
(‘‘PII’’), 
sensitive-but-unclassified 
(‘‘SBU’’) data, or similar information provided by 
such parties to Government users of such information 
and data (including law enforcement or regulators); 
and 
(2) any practices or standards inside or outside 
the United States for providing feedback through sen-
sitive information and public-private partnership in-
formation sharing efforts, specifically related to efforts 
to combat money laundering and other forms of illicit 
finance. 
(b) REPORT.—Not later than the end of the 18-month 
period beginning on the date of the enactment of this Act, 
the Comptroller General shall issue a report to the Com-
mittee on Banking, Housing, and Urban Affairs of the Sen-
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ate and the Committee on Financial Services of the House 
of Representatives containing— 
(1) all findings and determinations made in car-
rying out the study required under subsection (a); 
(2) with respect to each of paragraphs (1) and 
(2) of subsection (a), any best practices or significant 
concerns identified by the Comptroller General, and 
their applicability to public-private partnerships and 
feedback loops with respect to U.S. efforts to combat 
money laundering and other forms of illicit finance; 
and 
(3) recommendations to reduce or eliminate any 
unnecessary Government collection of the information 
described under subsection (a)(1). 
SEC. 205. FINCEN STUDY ON BSA VALUE. 
(a) STUDY.—The Director of the Financial Crimes 
Enforcement Network shall carry out a study on Bank Se-
crecy Act value. 
(b) REPORT.—Not later than the end of the 30-day pe-
riod beginning on the date the study under subsection (a) 
is completed, the Director shall issue a report to the Com-
mittee on Financial Services of the House of Representa-
tives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate containing all findings and deter-
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minations made in carrying out the study required under 
this section. 
(c) CLASSIFIED ANNEX.—The report required under 
this section may include a classified annex, if the Director 
determines it appropriate. 
(d) BANK SECRECY ACT DEFINED.—For purposes of 
this section, the term ‘‘Bank Secrecy Act’’ has the meaning 
given that term under section 5312 of title 31, United States 
Code. 
SEC. 206. SHARING OF THREAT PATTERN AND TREND IN-
FORMATION. 
Section 5318(g) of title 31, United States Code, as 
amended by section 201(a)(1), is further amended by add-
ing at the end the following: 
‘‘(7) SHARING OF THREAT PATTERN AND TREND 
INFORMATION.— 
‘‘(A) SAR ACTIVITY REVIEW.—The Director 
of the Financial Crimes Enforcement Network 
shall restart publication of the ‘SAR Activity Re-
view – Trends, Tips & Issues’, on not less than 
a semi-annual basis, to provide meaningful in-
formation about the preparation, use, and value 
of reports filed under this subsection by financial 
institutions, as well as other reports filed by fi-
nancial institutions under the Bank Secrecy Act. 
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‘‘(B) INCLUSION OF TYPOLOGIES.—In each 
publication described under subparagraph (A), 
the Director shall provide financial institutions 
with typologies, including data that can be 
adapted in algorithms (including for artificial 
intelligence and machine learning programs) 
where appropriate, on emerging money laun-
dering and counter terror financing threat pat-
terns and trends. 
‘‘(C) TYPOLOGY DEFINED.—For purposes of 
this paragraph, the term ‘typology’ means the 
various techniques used to launder money or fi-
nance terrorism.’’. 
SEC. 207. MODERNIZATION AND UPGRADING WHISTLE-
BLOWER PROTECTIONS. 
(a) REWARDS.—Section 5323(d) of title 31, United 
States Code, is amended to read as follows: 
‘‘(d) SOURCE OF REWARDS.—For the purposes of pay-
ing a reward under this section, the Secretary may use, 
without further appropriation, criminal fine, civil penalty, 
or forfeiture amounts recovered based on the original infor-
mation with respect to which the reward is being paid.’’. 
(b) WHISTLEBLOWER INCENTIVES.— 
Chapter 53 of title 31, United States Code, is 
amended— 
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(1) by inserting after section 5323 the following: 
‘‘§ 5323A. Whistleblower incentives 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) COVERED JUDICIAL OR ADMINISTRATIVE AC-
TION.—The term ‘covered judicial or administrative 
action’ means any judicial or administrative action 
brought by FinCEN under the Bank Secrecy Act that 
results in monetary sanctions exceeding $1,000,000. 
‘‘(2) FINCEN.—The term ‘FinCEN’ means the 
Financial Crimes Enforcement Network. 
‘‘(3) MONETARY SANCTIONS.—The term ‘mone-
tary sanctions’, when used with respect to any judi-
cial or administrative action, means— 
‘‘(A) any monies, including penalties, 
disgorgement, and interest, ordered to be paid; 
and 
‘‘(B) 
any 
monies 
deposited 
into 
a 
disgorgement fund as a result of such action or 
any settlement of such action. 
‘‘(4) ORIGINAL INFORMATION.—The term ‘origi-
nal information’ means information that— 
‘‘(A) is derived from the independent knowl-
edge or analysis of a whistleblower; 
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made, FinCEN staff shall meet with the whistle-
blower to discuss evidence disclosed and rebuttals 
to the disclosure, and shall take into consider-
ation— 
‘‘(i) the significance of the information 
provided by the whistleblower to the success 
of the covered judicial or administrative ac-
tion; 
‘‘(ii) the degree of assistance provided 
by the whistleblower and any legal rep-
resentative of the whistleblower in a covered 
judicial or administrative action; 
‘‘(iii) the mission of FinCEN in deter-
ring violations of the law by making 
awards to whistleblowers who provide infor-
mation that lead to the successful enforce-
ment of such laws; and 
‘‘(iv) such additional relevant factors 
as the Secretary may establish by rule. 
‘‘(2) DENIAL OF AWARD.—No award under sub-
section (b) shall be made— 
‘‘(A) to any whistleblower who is, or was at 
the time the whistleblower acquired the original 
information submitted to FinCEN, a member, of-
ficer, or employee of— 
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