H. R. 6395—1188 
(2) consistent with relevant FinCEN and Federal functional 
regulator guidance, including the December 2018 Joint State-
ment on Innovative Efforts to Combat Money Laundering and 
Terrorist Financing. 
SEC. 6210. FINANCIAL TECHNOLOGY ASSESSMENT. 
(a) IN GENERAL.—The Secretary, in consultation with financial 
regulators, technology experts, national security experts, law 
enforcement, and any other group the Secretary determines is 
appropriate, shall analyze the impact of financial technology on 
financial crimes compliance, including with respect to money laun-
dering, the financing of terrorism, proliferation finance, serious 
tax fraud, trafficking, sanctions evasion, and other illicit finance. 
(b) COORDINATION.—In carrying out the duties required under 
this section, the Secretary shall consult with relevant agency offi-
cials and consider other interagency efforts and data relating to 
examining the impact of financial technology, including activities 
conducted by— 
(1) cyber security working groups at the Department of 
the Treasury; 
(2) cyber security experts identified by the Attorney Gen-
eral and the Secretary of Homeland Security; 
(3) the intelligence community; and 
(4) the Financial Stability Oversight Council. 
(c) REPORT.—Not later than 1 year after the date of enactment 
of this Act, the Secretary shall submit to the Committee on Banking, 
Housing, and Urban Affairs and the Committee on Foreign Rela-
tions of the Senate and the Committee on Financial Services and 
the Committee on Foreign Affairs of the House of Representatives 
a report containing any findings under subsection (a), including 
legislative and administrative recommendations. 
SEC. 6211. FINANCIAL CRIMES TECH SYMPOSIUM. 
(a) PURPOSE.—The purposes of this section are to— 
(1) promote greater international collaboration in the effort 
to prevent and detect financial crimes and suspicious activities; 
and 
(2) facilitate the investigation, development, and timely 
adoption of new technologies aimed at preventing and detecting 
financial crimes and other illicit activities. 
(b) PERIODIC MEETINGS.—The Secretary shall, in coordination 
with the Subcommittee on Innovation and Technology established 
under subsection (d) of section 1564 of the Annunzio-Wylie Anti- 
Money Laundering Act, as added by section 6207 of this division, 
periodically convene a global anti-money laundering and financial 
crime symposium focused on how new technology can be used 
to more effectively combat financial crimes and other illicit activi-
ties. 
(c) ATTENDEES.—Attendees at each symposium convened under 
this section shall include domestic and international financial regu-
lators, senior executives from regulated firms, technology providers, 
representatives from law enforcement and national security agen-
cies, academic and other experts, and other individuals that the 
Secretary determines are appropriate. 
(d) PANELS.—At each symposium convened under this section, 
the Secretary shall convene panels in order to review new tech-
nologies and permit attendees to demonstrate proof of concept.
H. R. 6395—1189 
(e) IMPLEMENTATION AND REPORTS.—The Secretary shall, to 
the extent practicable and necessary, work to provide policy clarity, 
which may include providing reports or guidance to stakeholders, 
regarding innovative technologies and practices presented at each 
symposium convened under this section, to the extent that those 
technologies and practices further the purposes of this section. 
(f) FINCEN BRIEFING.—Not later than 90 days after the date 
of enactment of this Act, the Director of FinCEN shall brief the 
Committee on Banking, Housing, and Urban Affairs of the Senate 
and the Committee on Financial Services of the House of Represent-
atives on the use of emerging technologies, including— 
(1) the status of implementation and internal use of 
emerging technologies, including artificial intelligence, digital 
identity technologies, distributed ledger technologies, and other 
innovative technologies within FinCEN; 
(2) whether artificial intelligence, digital identity tech-
nologies, distributed ledger technologies, and other innovative 
technologies can be further leveraged to make data analysis 
by FinCEN more efficient and effective; 
(3) whether FinCEN could better use artificial intelligence, 
digital identity technologies, distributed ledger technologies, 
and other innovative technologies to— 
(A) more actively analyze and disseminate the informa-
tion FinCEN collects and stores to provide investigative 
leads to Federal, State, Tribal, and local law enforcement 
agencies and other Federal agencies; and 
(B) better support ongoing investigations by FinCEN 
when referring a case to the agencies described in subpara-
graph (A); 
(4) with respect to each of paragraphs (1), (2), and (3), 
any best practices or significant concerns identified by the 
Director, and their applicability to artificial intelligence, digital 
identity technologies, distributed ledger technologies, and other 
innovative technologies with respect to United States efforts 
to combat money laundering and other forms of illicit finance; 
(5) any policy recommendations that could facilitate and 
improve communication and coordination between the private 
sector, FinCEN, and the agencies described in paragraph (3) 
through the implementation of innovative approaches to meet 
the obligations of the agencies under the Bank Secrecy Act 
and anti-money laundering compliance; and 
(6) any other matter the Director determines is appropriate. 
SEC. 6212. PILOT PROGRAM ON SHARING OF INFORMATION RELATED 
TO SUSPICIOUS ACTIVITY REPORTS WITHIN A FINANCIAL 
GROUP. 
(a) SHARING WITH FOREIGN BRANCHES AND AFFILIATES.—Sec-
tion 5318(g) of title 31, United States Code, as amended by sections 
6202 and 6206 of this division, is amended by adding at the end 
the following: 
‘‘(8) PILOT PROGRAM ON SHARING WITH FOREIGN BRANCHES, 
SUBSIDIARIES, AND AFFILIATES.— 
‘‘(A) IN GENERAL.— 
‘‘(i) ISSUANCE OF RULES.—Not later than 1 year 
after the date of enactment of this paragraph, the
H. R. 6395—1190 
Secretary of the Treasury shall issue rules, in coordina-
tion with the Director of the Financial Crimes Enforce-
ment 
Network, 
establishing 
the 
pilot 
program 
described in subparagraph (B). 
‘‘(ii) 
CONSIDERATIONS.—In 
issuing 
the 
rules 
required under clause (i), the Secretary shall ensure 
that the sharing of information described in subpara-
graph (B)— 
‘‘(I) is limited by the requirements of Federal 
and State law enforcement operations; 
‘‘(II) takes into account potential concerns of 
the intelligence community; and 
‘‘(III) is subject to appropriate standards and 
requirements regarding data security and the con-
fidentiality of personally identifiable information. 
‘‘(B) PILOT PROGRAM DESCRIBED.—The pilot program 
described in this paragraph shall— 
‘‘(i) permit a financial institution with a reporting 
obligation under this subsection to share information 
related to reports under this subsection, including that 
such a report has been filed, with the institution’s 
foreign branches, subsidiaries, and affiliates for the 
purpose of combating illicit finance risks, notwith-
standing any other provision of law except subpara-
graph (A) or (C); 
‘‘(ii) permit the Secretary to consider, implement, 
and enforce provisions that would hold a foreign affil-
iate of a United States financial institution liable for 
the disclosure of information related to reports under 
this section; 
‘‘(iii) terminate on the date that is 3 years after 
the date of enactment of this paragraph, except that 
the Secretary of the Treasury may extend the pilot 
program for not more than 2 years upon submitting 
to the Committee on Banking, Housing, and Urban 
Affairs of the Senate and the Committee on Financial 
Services of the House of Representatives a report that 
includes— 
‘‘(I) a certification that the extension is in the 
national interest of the United States, with a 
detailed explanation of the reasons that the exten-
sion is in the national interest of the United States; 
‘‘(II) after appropriate consultation by the Sec-
retary with participants in the pilot program, an 
evaluation of the usefulness 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 proposal providing 
for a long-term extension of activities under the 
pilot program, measures to ensure data security, 
and 
confidentiality 
of 
personally 
identifiable 
information, 
including 
expected 
budgetary 
resources for those activities, if the Secretary of 
the Treasury determines that a long-term exten-
sion is appropriate. 
‘‘(C) PROHIBITION INVOLVING CERTAIN JURISDICTIONS.—
H. R. 6395—1191 
‘‘(i) IN
GENERAL.—In issuing the rules required 
under subparagraph (A), the Secretary of the Treasury 
may not permit a financial institution to share informa-
tion on reports under this subsection with a foreign 
branch, subsidiary, or affiliate located in— 
‘‘(I) the People’s Republic of China; 
‘‘(II) the Russian Federation; or 
‘‘(III) a jurisdiction that— 
‘‘(aa) is a state sponsor of terrorism; 
‘‘(bb) is subject to sanctions imposed by 
the Federal Government; or 
‘‘(cc) the Secretary has determined cannot 
reasonably protect the security and confiden-
tiality of such information. 
‘‘(ii) EXCEPTIONS.—The Secretary is authorized to 
make exceptions, on a case-by-case basis, for a financial 
institution located in a jurisdiction listed in subclause 
(I) or (II) of clause (i), if the Secretary notifies the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate and the Committee on Financial Services 
of the House of Representatives that such an exception 
is in the national security interest of the United States. 
‘‘(D) IMPLEMENTATION UPDATES.—Not later than 360 
days after the date on which rules are issued under 
subparagraph (A), and annually thereafter for 3 years, 
the Secretary of the Treasury, or the designee of the Sec-
retary, shall brief the Committee on Banking, Housing, 
and Urban Affairs of the Senate and the Committee on 
Financial Services of the House of Representatives on— 
‘‘(i) the degree of any information sharing per-
mitted under the pilot program and a description of 
criteria used by the Secretary to evaluate the appro-
priateness of the information sharing; 
‘‘(ii) the effectiveness of the pilot program in identi-
fying or preventing the violation of a United States 
law or regulation and mechanisms that may improve 
that effectiveness; and 
‘‘(iii) any recommendations to amend the design 
of the pilot program. 
‘‘(9) TREATMENT
OF
FOREIGN
JURISDICTION-ORIGINATED 
REPORTS.—Information related to a report received by a finan-
cial institution from a foreign affiliate with respect to a sus-
picious transaction relevant to a possible violation of law or 
regulation shall be subject to the same confidentiality require-
ments provided under this subsection for a report of a sus-
picious transaction described in paragraph (1). 
‘‘(10) NO OFFSHORING COMPLIANCE.—No financial institu-
tion may establish or maintain any operation located outside 
of the United States the primary purpose of which is to ensure 
compliance with the Bank Secrecy Act as a result of the sharing 
granted under this subsection. 
‘‘(11) DEFINITIONS.—In this subsection: 
‘‘(A) AFFILIATE.—The term ‘affiliate’ means an entity 
that controls, is controlled by, or is under common control 
with another entity. 
‘‘(B) BANK
SECRECY
ACT; STATE
BANK
SUPERVISOR; 
STATE
CREDIT
UNION
SUPERVISOR.—The terms ‘Bank