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Network determines appropriate, including con-
trols and restrictions regarding participation by 
financial institutions and jurisdictions in the 
pilot program. In prescribing such rules, the 
Secretary shall ensure that the sharing of infor-
mation described under such subparagraph (B) 
is subject to appropriate standards and require-
ments regarding data security and the confiden-
tiality of personally identifiable information. 
‘‘(B) PILOT
PROGRAM
DESCRIBED.—The 
pilot program required under this paragraph 
shall— 
‘‘(i) permit a financial institution with 
a reporting obligation under this sub-
section to share reports (and information 
on such reports) under this subsection with 
the institution’s foreign branches, subsidi-
aries, and affiliates for the purpose of com-
bating illicit finance risks, notwithstanding 
any other provision of law except subpara-
graphs (A) and (C); 
‘‘(ii) terminate on the date that is five 
years after the date of enactment of this 
paragraph, except that the Secretary may 
extend the pilot program for up to two 
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years upon submitting a report to the 
Committee on Financial Services of the 
House of Representatives and the Com-
mittee on Banking, Housing, and Urban 
Affairs of the Senate that includes— 
‘‘(I) a certification that the ex-
tension is in the national interest of 
the United States, with a detailed ex-
planation 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 de-
termines that a long-term extension is 
appropriate. 
‘‘(C) PROHIBITION
INVOLVING
CERTAIN 
JURISDICTIONS.—In issuing the regulations re-
quired under subparagraph (A), the Secretary 
may not permit a financial institution to share 
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information on reports under this subsection 
with a foreign branch, subsidiary, or affiliate lo-
cated in— 
‘‘(i) the People’s Republic of China; 
‘‘(ii) the Russian Federation; or 
‘‘(iii) a jurisdiction that— 
‘‘(I) 
is 
subject 
to 
counter-
measures imposed by the Federal 
Government; 
‘‘(II) is a state sponsor of ter-
rorism; or 
‘‘(III) the Secretary has deter-
mined cannot reasonably protect the 
privacy and confidentiality of such in-
formation or would otherwise use such 
information in a manner that is not 
consistent with the national interest of 
the United States. 
‘‘(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 Rep-
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resentatives 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. 
‘‘(E) RULE OF CONSTRUCTION.—Nothing 
in this paragraph shall be construed as limiting 
the Secretary’s authority under provisions of 
law other than this paragraph to establish other 
permissible purposes or methods for a financial 
institution sharing reports (and information on 
such reports) under this subsection with the in-
stitution’s foreign headquarters or with other 
branches of the same institution. 
‘‘(F) NOTICE OF USE OF OTHER AUTHOR-
ITY.—If the Secretary, pursuant to any author-
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ity other than that provided under this para-
graph, permits a financial institution to share 
information on reports under this subsection 
with a foreign branch, subsidiary, or affiliate lo-
cated in a foreign jurisdiction, the Secretary 
shall notify the Committee on Financial Serv-
ices of the House of Representatives and the 
Committee on Banking, Housing, and Urban 
Affairs of such permission and the applicable 
foreign jurisdiction. 
‘‘(6) TREATMENT OF FOREIGN JURISDICTION- 
ORIGINATED REPORTS.—A report received by a fi-
nancial institution from a foreign affiliate with re-
spect to a suspicious transaction relevant to a pos-
sible violation of law or regulation shall be subject 
to the same confidentiality requirements provided 
under this subsection for a report of a suspicious 
transaction described 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 
otherwise reveal any information that would re-
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veal that the transaction has been reported’’; 
and 
(B) in clause (ii), by inserting after ‘‘trans-
action has been reported,’’ the following: ‘‘or 
otherwise reveal any information that would re-
veal that the transaction has been reported,’’. 
(b) RULEMAKING.—Not later than the end of the 
360-day 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. SHARING OF COMPLIANCE RESOURCES. 
(a) IN GENERAL.—Section 5318 of title 31, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘(o) SHARING OF COMPLIANCE RESOURCES.— 
‘‘(1) SHARING PERMITTED.—Two or more fi-
nancial institutions may enter into collaborative ar-
rangements in order to more efficiently comply with 
the requirements of this subchapter. 
‘‘(2) OUTREACH.—The Secretary of the Treas-
ury and the appropriate supervising agencies shall 
carry out an outreach program to provide financial 
institutions with information, including best prac-
tices, with respect to the sharing of resources de-
scribed 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. 203. 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 identifi-
able information (‘‘PII’’), sensitive-but-unclassified 
(‘‘SBU’’) data, or similar information provided by 
such parties to Government users of such informa-
tion and data (including law enforcement or regu-
lators); and 
(2) any practices or standards inside or outside 
the United States for providing feedback through 
sensitive information and public-private partnership 
information sharing efforts, specifically related to ef-
forts 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 Committee on Banking, Housing, and Urban Affairs 
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of the Senate 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 signifi-
cant 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 informa-
tion described under subsection (a)(1). 
SEC. 204. 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 
period beginning on the date the study under subsection 
(a) is completed, the Director shall issue a report to the 
Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate containing all findings and 
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determinations 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 mean-
ing given that term under section 5312 of title 31, United 
States Code. 
SEC. 205. 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 Direc-
tor of the Financial Crimes Enforcement Net-
work shall restart publication of the ‘SAR Ac-
tivity Review – Trends, Tips & Issues’, on not 
less than a semi-annual basis, to provide mean-
ingful information about the preparation, use, 
and value of reports filed under this subsection 
by financial institutions, as well as other re-
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ports filed by financial institutions under the 
Bank Secrecy Act. 
‘‘(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 finance terrorism.’’. 
SEC. 206. 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 
paying a reward under this section, the Secretary may, 
subject to amounts made available in advance by appro-
priation Acts, use criminal fine, civil penalty, or forfeiture 
amounts recovered based on the original information with 
respect to which the reward is being paid.’’. 
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(b) WHISTLEBLOWER INCENTIVES.—Chapter 53 of 
title 31, United States Code, is amended— 
(1) by inserting after section 5323 the fol-
lowing: 
‘‘§ 5323A. Whistleblower incentives 
‘‘(a) DEFINITIONS.—In this section: 
‘‘(1) COVERED JUDICIAL OR ADMINISTRATIVE 
ACTION.—The term ‘covered judicial or administra-
tive action’ means any judicial or administrative ac-
tion 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 
‘original information’ means information that— 
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