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(B) to the extent possible, cooperative ef-
forts among States and between State and local 
officials, including State and local regulators, 
prosecutors, and law enforcement officials; and 
(C) cooperative efforts with and between 
governments of countries and with and between 
multinational institutions with expertise in 
fighting illicit finance. 
(7) PROJECT AND BUDGET PRIORITIES.—A 3- 
year projection for program and budget priorities 
and achievable projects for reductions in illicit fi-
nance. 
(8) ASSESSMENT OF FUNDING.—A complete as-
sessment of how the proposed budget described 
under paragraph (7) is intended to implement the 
strategy described in this Act and whether the fund-
ing levels contained in the proposed budget are suffi-
cient to implement the strategy, including a discus-
sion of the extent to which funding for such efforts 
is or should be funded from fines, settlements, sei-
zures or forfeitures related to illicit finance. 
(9) TREND ANALYSIS.—Data regarding trends 
in illicit finance, with a special focus on the funding 
of terrorism. 
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(10) ENFORCEMENT
REPORT.—A report con-
taining an evaluation of the enforcement of policies 
to combat illicit finance. 
(11) ENFORCEMENT.—A discussion of the cur-
rent policies of the United States to enforce the pro-
visions of the Bank Secrecy Act and related laws re-
garding the financing of terrorism and other forms 
of illicit finance, together with recommendations for 
improving enforcement. 
(12) TREASURY
ATTACHE´S.—A discussion of 
the Department of the Treasury attache´s, includ-
ing— 
(A) a list of embassies where Department 
of the Treasury attache´s are posted and a dis-
cussion of their effectiveness in the fight 
against illicit finance; 
(B) a list of the United States embassies 
at which a Department of the Treasury attache´ 
is assigned for temporary duty, the length of 
such assignments, and the reason why such as-
signments are not considered to be permanent 
assignments; 
(C) how the Department of the Treasury’s 
interests relating to economic and anti-terror fi-
nance issues are handled at other embassies, in-
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cluding a discussion of the reporting structure 
by which such issues are brought to the direct 
attention of the ambassador; and 
(D) the effect of not having more attache´s 
in embassies that are most vulnerable to illicit 
finance threats and a discussion of whether the 
Department of the Treasury’s economic or anti- 
illicit finance issues are thought to be under- 
represented in some embassies or regions. 
(13) ILLICIT FINANCE AND CYBER CRIME.—A 
discussion of terrorist financing and other forms of 
illicit finance that involve cyber attacks, evolving 
forms of value transfer, including so-called ‘‘crypto 
currencies’’, and other methods that are computer, 
telecommunications, or Internet-based. 
(14) TECHNOLOGY.—An analysis of current 
and developing ways to leverage technology to im-
prove the effectiveness of the fight against the fi-
nancing of terror and other forms of illicit finance, 
including the use of ‘‘big data’’ analytics, the merg-
ing of publicly sourced data with Bank Secrecy Act 
data and with other forms of secure Government 
data to increase such effectiveness, and ways to en-
hance the role of the private sector in combating il-
licit finance. 
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SEC. 5. DEFINITIONS. 
For purposes of this Act: 
(1) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means the Committee on Financial Serv-
ices, Committee on Foreign Affairs, Committee on 
Armed Services, Committee on Homeland Security, 
and the Permanent Select Committee on Intelligence 
of the House of Representatives and the Committee 
on Banking, Housing, and Urban Affairs, Com-
mittee on Foreign Relations, Committee on Armed 
Services, Committee on Homeland Security and Gov-
ernmental Affairs, and the Select Committee on In-
telligence of the Senate. 
(2) APPROPRIATE
FEDERAL
BANKING
AGEN-
CIES.—The term ‘‘appropriate Federal banking 
agencies’’ has the meaning given that term under 
section 3 of the Federal Deposit Insurance Act (12 
U.S.C. 1813). 
(3) 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 
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(C) subchapter II of chapter 53 of title 31, 
United States Code. 
(4) ILLICIT
FINANCE.—The term ‘‘illicit fi-
nance’’ means the financing of terrorism, money 
laundering, and other forms of illicit or underground 
financing or other illicit finance domestically and 
internationally, as defined by the President. 
(5) STATE.—The term ‘‘State’’ means each of 
the several States, the District of Columbia, and 
each territory or possession of the United States. 
Passed the House of Representatives July 11, 2016. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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