datamatters24/research-document-archive huggingface dataset:
‘‘(ii) chapter 2 of title I of Public Law 
91–508; and 
‘‘(iii) subchapter II of chapter 53 of 
this title. 
‘‘(B) 
FEDERAL
FUNCTIONAL
REGU-
LATOR.—The term ‘Federal functional regu-
lator’ has the meaning given that term under 
section 5312 of title 31, United States Code. 
‘‘(C) SMALL
BUSINESS
CONCERN.—The 
term ‘small business concern’ has the meaning 
given under section 3 of the Small Business 
Act.’’. 
SEC. 6. REQUIRING TREASURY TO TAKE A MORE PROMI-
NENT ROLE IN COORDINATING AML/CFT POL-
ICY AND EXAMINATIONS ACROSS THE GOV-
ERNMENT. 
(a) PRIORITIES.—Not later than nine months after 
the date of the enactment of this Act, and at least annu-
ally thereafter, the Secretary of the Treasury, acting 
through the Office of Terrorism and Financial Intelligence 
and the Financial Crimes Enforcement Network, in con-
sultation with relevant Federal law enforcement, the Di-
rector of National Intelligence, and any other Federal de-
partments and agencies that the Secretary of the Treasury 
determines appropriate, shall establish and make public 
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its priorities for U.S. anti-money laundering and counter 
terrorist financing policy. 
(b) SUPERVISION AND EXAMINATION.—The incorpo-
ration by financial institutions of the priorities established 
pursuant to subsection (a) into the programs established 
by those financial institutions to meet obligations under 
the Bank Secrecy Act, the USA PATRIOT Act, and other 
anti-money laundering and counter terrorist financing 
laws and regulations shall form the basis on which the 
financial institutions are supervised and examined for 
compliance with those obligations. 
(c) RULE
OF CONSTRUCTION.—Nothing in sub-
section (a) may be construed as releasing financial institu-
tions from the requirement to comply with obligations 
under the Bank Secrecy Act and other Federal laws and 
regulations. 
(d) REPORT.—Not later than nine months after the 
date of enactment of this Act, the Secretary of the Treas-
ury (in consultation with Federal law enforcement agen-
cies, the Director of National Intelligence, and the Federal 
functional regulators) shall submit to the Committee on 
Financial Services of the House of Representatives and 
the Committee on Banking, Housing, and Urban Affairs 
of the Senate a report containing— 
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(1) an analysis of the Secretary of the Treas-
ury’s delegation of examination authority under the 
Bank Secrecy Act, including the adequacy of the De-
partment of the Treasury’s resources, capacity, ex-
pertise, and ability to effectively carry out the pur-
poses of the Bank Secrecy Act; 
(2) an examination of whether the Secretary 
should de-delegate that authority with regard to cer-
tain financial institutions; and 
(3) legislative, administrative, and other rec-
ommendations to strengthen the Department of the 
Treasury’s authority to ensure an effective U.S. 
anti-money laundering and counter terrorist financ-
ing regime. 
SEC. 7. ENCOURAGING THE USE OF TECHNOLOGICAL INNO-
VATIONS. 
Section 5318(h) of title 31, United States Code, is 
amended by adding at the end the following: 
‘‘(4) ENCOURAGING
THE
USE
OF
TECHNO-
LOGICAL INNOVATIONS.— 
‘‘(A) IN GENERAL.—The Secretary of the 
Treasury shall, in carrying out this subsection, 
encourage but not require the use of techno-
logical innovations that improve anti-money 
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laundering programs described under paragraph 
(1). 
‘‘(B) SAFE HARBOR.—An anti-money laun-
dering program that meets the minimum re-
quirements described under paragraph (1) and 
any minimum standards issued pursuant to 
paragraph (2), shall not violate the require-
ments of this subsection by reason of any tech-
nological innovation used to carry out such pro-
gram. 
‘‘(C) RULE OF CONSTRUCTION.—Nothing 
in subparagraph (A) may be construed as re-
leasing financial institutions from the require-
ment to comply with existing obligations under 
the Bank Secrecy Act and other Federal laws 
and regulations.’’. 
SEC. 8. ASSESSING THE USEFULNESS OF BANK SECRECY 
ACT REPORTING. 
(a) ANNUAL REPORT.—Not later than one year after 
the date of enactment of this Act, and annually thereafter, 
the Attorney General, in consultation with Federal law en-
forcement agencies and the Director of National Intel-
ligence, shall, to the extent practicable at the discretion 
of the Attorney General, provide the Secretary of the 
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Treasury with statistics, metrics, and other information 
on the use of such data, including— 
(1) the extent to which such data is used for 
terrorism versus non-terrorism related investigations 
and, with respect to such non-terrorism related in-
vestigations, the most common types of laws to 
which such investigations relate; 
(2) the frequency with which such data contains 
‘‘actionable information’’ which leads to further law 
enforcement procedures, including the use of a sub-
poena, warrant, or other legal process; and 
(3) information on the extent to which arrests, 
indictments, convictions, or plea bargains of actors 
result from the use of such data. 
(b) USE OF REPORT INFORMATION.—The Secretary 
of the Treasury shall utilize the information reported 
under subsection (a)— 
(1) to help assess the usefulness of Bank Se-
crecy Act reporting to law enforcement; 
(2) to enhance feedback and communications 
with financial institutions and other entities subject 
to Bank Secrecy Act requirements; and 
(3) for such other purposes as the Secretary de-
termines appropriate. 
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SEC. 9. 18-MONTH ENFORCEMENT SAFE HARBOR OF CDD 
RULE. 
No person shall be liable for any violation of the final 
rule of the Department of the Treasury titled ‘‘Customer 
Due Diligence Requirements for Financial Institutions’’ 
(‘‘CDD rule’’) published May 11, 2016 (81 Fed. Reg. 
29397), during the 18-month period beginning on May 11, 
2018, so long as such person has made a good faith effort 
to comply with such requirements. 
SEC. 10. STUDIES AND REPORTS. 
(a) BENEFICIAL OWNERSHIP.—Not later than 2 
years after the date of enactment of this Act, the Comp-
troller General of the United States shall conduct a study 
and submit to the Congress a report— 
(1) evaluating the effectiveness of the collection 
of beneficial ownership information under the CDD 
rule (as defined under section 9), including— 
(A) whether law enforcement agencies have 
had timely access to the information; 
(B) the utility of such information in law 
enforcement investigations or prosecutions; 
(C) an analysis of the reporting burden 
placed on financial institutions versus the utility 
of such information being made available to law 
enforcement; and 
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(D) whether further legislation is required 
to reduce regulatory burdens or increase the 
utility and timely access of such information to 
law enforcement; 
(2) assessing the effectiveness of incorporation 
practices implemented under the CDD rule. 
(b) COMPREHENSIVE COST-BENEFIT ANALYSIS.— 
Not later than 2 years after the date of enactment of this 
Act, the Comptroller General of the United States shall 
conduct a study and submit to the Congress a report— 
(1) providing a comprehensive quantitative and 
qualitative estimate of the annualized costs to the 
private sector to comply with the statutory and regu-
latory requirements of the Bank Secrecy Act and re-
lated anti-money laundering laws and regulations; 
(2) providing a comprehensive qualitative and 
quantitative analysis of the effectiveness of the cur-
rent anti-money laundering and counter terrorist fi-
nancing framework in preventing, detecting, and 
prosecuting terrorist and illicit financing; 
(3) providing a comprehensive qualitative and 
quantitative analysis of the benefits and costs to 
both the private sector and the Government of the 
private sector’s compliance with the statutory and 
regulatory requirements of the Bank Secrecy Act 
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and related anti-money laundering laws and regula-
tions; and 
(4) examining the costs borne and effect on ac-
cess to financial services for consumers and cus-
tomers as a result of financial institutions compli-
ance with the statutory and regulatory requirements 
of the Bank Secrecy Act and related anti-money 
laundering laws and regulations. 
SEC. 11. DEFINITIONS. 
For purposes of this Act: 
(1) BANK SECRECY ACT.—The term ‘‘Bank Se-
crecy Act’’ means— 
(A) section 21 of the Federal Deposit In-
surance Act; 
(B) chapter 2 of title I of Public Law 91– 
508; and 
(C) subchapter II of chapter 53 of title 31, 
United States Code. 
(2) FEDERAL FUNCTIONAL REGULATOR.—The 
term ‘‘Federal functional regulator’’ has the mean-
ing given that term under section 5312 of title 31, 
United States Code. 
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(3) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ has the meaning given that term 
under section 5312 of title 31, United States Code. 
Æ 
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115TH CONGRESS 
2D SESSION 
H. R. 6069 
AN ACT 
To require the Comptroller General of the United 
States to carry out a study on how virtual cur-
rencies and online marketplaces are used to buy, 
sell, or facilitate the financing of goods or serv-
ices associated with sex trafficking or drug traf-
ficking, and for other purposes.
I 
115TH CONGRESS 
2D SESSION 
H. R. 6069 
To require the Comptroller General of the United States to carry out a 
study on how virtual currencies and online marketplaces are used to 
buy, sell, or facilitate the financing of goods or services associated with 
sex trafficking or drug trafficking, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 12, 2018 
Mr. VARGAS (for himself and Mr. ROTHFUS) introduced the following bill; 
which was referred to the Committee on Financial Services, and in addi-
tion to the Committee on Energy and Commerce, for a period to be sub-
sequently determined by the Speaker, in each case for consideration of 
such provisions as fall within the jurisdiction of the committee concerned 
A BILL 
To require the Comptroller General of the United States 
to carry out a study on how virtual currencies and online 
marketplaces are used to buy, sell, or facilitate the fi-
nancing of goods or services associated with sex traf-
ficking or drug trafficking, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fight Illicit Networks 
and Detect Trafficking Act’’ or the ‘‘FIND Trafficking 
Act’’. 
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SEC. 2. FINDINGS. 
The Congress finds the following: 
(1) According to the Drug Enforcement Admin-
istration (DEA) 2017 National Drug Threat Assess-
ment, transnational criminal organizations are in-
creasingly using virtual currencies. 
(2) Although virtual currencies can be used for 
legal purchases, they have become a preferred finan-
cial payment method for criminals. 
(3) Virtual currencies have become a prominent 
method to pay for goods and services associated with 
illegal sex trafficking and drug trafficking, which are 
two of the most detrimental and troubling illegal ac-
tivities facilitated by online marketplaces. 
(4) Online marketplaces, including the darkweb, 
have become a prominent platform to buy, sell, and 
advertise for illicit goods and services associated 
with sex trafficking and drug trafficking. 
(5) According to the International Labour Or-
ganization, in 2016, 4.8 million people in the world 
were victims of forced sexual exploitation, and in 
2014, the global profit from commercial sexual ex-
ploitation was $99 billion. 
(6) In 2016, within the United States, the Cen-
ter for Disease Control estimated that there were 
64,000 deaths related to drug overdose, and the 
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most severe increase in drug overdoses were those 
associated with fentanyl and fentanyl analogs (syn-
thetic opioids), which amounted to over 20,000 over-
dose deaths. 
(7) According to the U.S. Department of the 
Treasury 2015 National Money Laundering Risk 
Assessment, an estimated $64 billion is generated 
annually from U.S. drug trafficking sales. 
(8) Illegal fentanyl in the United States origi-
nates primarily from China, and it is readily avail-
able to purchase through online marketplaces. 
SEC. 3. GAO STUDY. 
(a) STUDY REQUIRED.—The Comptroller General of 
the United States shall conduct a study on how virtual 
currencies and online marketplaces are used to facilitate 
sex and drug trafficking. The study shall consider— 
(1) how online marketplaces, including the 
darkweb, are being used as platforms to buy, sell, or 
facilitate the financing of goods or services associ-
ated with sex trafficking or drug trafficking (specifi-
cally, opioids and synthetic opioids, including fenta-
nyl, fentanyl analogs, and any precursor chemicals 
associated with manufacturing fentanyl or fentanyl 
analogs) destined for, originating from, or within the 
United States; 
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(2) how financial payment methods, including 
virtual currencies and peer-to-peer mobile payment 
services, are being utilized by online marketplaces to 
facilitate the buying, selling, or financing of goods 
and services associated with sex or drug trafficking 
destined for, originating from, or within the United 
States; 
(3) how virtual currencies are being used to fa-
cilitate the buying, selling, or financing of goods and 
services associated with sex or drug trafficking, des-
tined for, originating from, or within the United 
States, when an online platform is not otherwise in-
volved; 
(4) how illicit funds that have been transmitted 
online and through virtual currencies are repatriated 
into the formal banking system of the United States 
through money laundering or other means; 
(5) the participants (state and non-state actors) 
throughout the entire supply chain that participate 
in or benefit from the buying, selling, or financing 
of goods and services associated with sex or drug 
trafficking (either through online marketplaces or 
virtual currencies) destined for, originating from, or 
within the United States; and 
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(6) Federal and State agency efforts to impede 
the buying, selling, or financing of goods and serv-
ices associated with sex or drug trafficking destined 
for, originating from, or within the United States, 
including efforts to prevent the proceeds from sex or 
drug trafficking from entering the United States 
banking system. 
(b) SCOPE.—For the purposes of the study required 
under subsection (a), the term ‘‘sex trafficking’’ means the 
recruitment, harboring, transportation, provision, obtain-
ing, patronizing, or soliciting of a person for the purpose 
of a commercial sex act that is induced by force, fraud, 
or coercion, or in which the person induced to perform 
such act has not attained 18 years of age. 
(c) REPORT TO CONGRESS.—Not later than 1 year 
after the date of enactment of this Act, the Comptroller 
General of the United States shall submit to the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate and the Committee on Financial Services of the 
House of Representatives a report summarizing the re-
sults of the study required under subsection (a), together 
with any recommendations for legislative or regulatory ac-
tion that would improve the efforts of Federal agencies 
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to impede the use of virtual currencies and online market-
places in facilitating sex and drug trafficking. 
Æ 
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HR 6069 RFS
drug trafficking from entering the United States 
banking system; 
(7) how virtual currencies and their underlying 
technologies can be used to detect and deter these 
illicit activities; and 
(8) to what extent can the immutable and 
traceable nature of virtual currencies contribute to 
the tracking and prosecution of illicit funding. 
(b) SCOPE.—For the purposes of the study required 
under subsection (a), the term ‘‘sex trafficking’’ means the 
recruitment, harboring, transportation, provision, obtain-
ing, patronizing, or soliciting of a person for the purpose 
of a commercial sex act that is induced by force, fraud, 
or coercion, or in which the person induced to perform 
such act has not attained 18 years of age. 
(c) REPORT TO CONGRESS.—Not later than 1 year 
after the date of enactment of this Act, the Comptroller 
General of the United States shall submit to the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate and the Committee on Financial Services of the 
House of Representatives a report summarizing the re-
sults of the study required under subsection (a), together 
with any recommendations for legislative or regulatory ac-
tion that would improve the efforts of Federal agencies 
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HR 6069 RFS
to impede the use of virtual currencies and online market-
places in facilitating sex and drug trafficking. 
Passed the House of Representatives June 25, 2018. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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A BILL 
To require the Comptroller General of the United States 
to carry out a study on how virtual currencies and online 
marketplaces are used to buy, sell, or facilitate the fi-
nancing of goods or services associated with sex traf-
ficking or drug trafficking, and for other purposes. 
VerDate Sep 11 2014 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Fight Illicit Networks 
and Detect Trafficking Act’’ or the ‘‘FIND Trafficking Act’’. 
SEC. 2. FINDINGS. 
The Congress finds the following: 
(1) According to the Drug Enforcement Adminis-
tration (DEA) 2017 National Drug Threat Assess-
ment, transnational criminal organizations are in-
creasingly using virtual currencies. 
(2) The Treasury Department has recognized 
that: ‘‘The development of virtual currencies is an at-
tempt to meet a legitimate market demand. According 
to a Federal Reserve Bank of Chicago economist, U.S. 
consumers want payment options that are versatile 
and that provide immediate finality. No U.S. pay-
ment method meets that description, although cash 
may come closest. Virtual currencies can mimic cash’s 
immediate finality and anonymity and are more 
versatile than cash for online and cross-border trans-
actions, making virtual currencies vulnerable for il-
licit transactions.’’. 
(3) Virtual currencies have become a prominent 
method to pay for goods and services associated with 
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illegal sex trafficking and drug trafficking, which are 
two of the most detrimental and troubling illegal ac-
tivities facilitated by online marketplaces. 
(4) Online marketplaces, including the darkweb, 
have become a prominent platform to buy, sell, and 
advertise for illicit goods and services associated with 
sex trafficking and drug trafficking. 
(5) According to the International Labour Orga-
nization, in 2016, 4.8 million people in the world 
were victims of forced sexual exploitation, and in 
2014, the global profit from commercial sexual exploi-
tation was $99 billion. 
(6) In 2016, within the United States, the Center 
for Disease Control estimated that there were 64,000 
deaths related to drug overdose, and the most severe 
increase in drug overdoses were those associated with 
fentanyl and fentanyl analogs (synthetic opioids), 
which amounted to over 20,000 overdose deaths. 
(7) According to the U.S. Department of the 
Treasury 2015 National Money Laundering Risk As-
sessment, an estimated $64 billion is generated annu-
ally from U.S. drug trafficking sales. 
(8) Illegal fentanyl in the United States origi-
nates primarily from China, and it is readily avail-
able to purchase through online marketplaces. 
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SEC. 3. GAO STUDY. 
(a) STUDY REQUIRED.—The Comptroller General of 
the United States shall conduct a study on how virtual cur-
rencies and online marketplaces are used to facilitate sex 
and drug trafficking. The study shall consider— 
(1) how online marketplaces, including the 
darkweb, are being used as platforms to buy, sell, or 
facilitate the financing of goods or services associated 
with sex trafficking or drug trafficking (specifically, 
opioids and synthetic opioids, including fentanyl, 
fentanyl analogs, and any precursor chemicals associ-
ated with manufacturing fentanyl or fentanyl 
analogs) destined for, originating from, or within the 
United States; 
(2) how financial payment methods, including 
virtual currencies and peer-to-peer mobile payment 
services, are being utilized by online marketplaces to 
facilitate the buying, selling, or financing of goods 
and services associated with sex or drug trafficking 
destined for, originating from, or within the United 
States; 
(3) how virtual currencies are being used to fa-
cilitate the buying, selling, or financing of goods and 
services associated with sex or drug trafficking, des-
tined for, originating from, or within the United 
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