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(e) REPORT.—The Chair of the Council shall issue 
an annual report to the Congress on the program and pol-
icy activities, including the success of programs as meas-
ured by metrics of program success developed pursuant 
to section 103(b)(5), of the Council during the previous 
year and any legislative recommendations that the Council 
may have. 
(f) NONAPPLICABILITY OF FACA.—The Federal Ad-
visory Committee Act (5 U.S.C. App.) shall not apply to 
the Council. 
SEC. 105. INTERNATIONAL COORDINATION. 
(a) IN GENERAL.—The Secretary of the Treasury 
shall work with the Secretary’s foreign counterparts, in-
cluding through the Financial Action Task Force, the 
International Monetary Fund, the World Bank, the 
Egmont Group of Financial Intelligence Units, the 
Organisation for Economic Co-operation and Develop-
ment, and the United Nations, to promote stronger anti- 
money laundering frameworks and enforcement of anti- 
money laundering laws. 
(b) COOPERATION GOAL.—In carrying out subsection 
(a), the Secretary of the Treasury may work directly with 
foreign counterparts and other organizations where the 
goal of cooperation can best be met. 
(c) INTERNATIONAL MONETARY FUND.— 
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(1) SUPPORT FOR CAPACITY OF THE INTER-
NATIONAL
MONETARY
FUND
TO
PREVENT
MONEY 
LAUNDERING
AND
FINANCING
OF
TERRORISM.— 
Title XVI of the International Financial Institutions 
Act (22 U.S.C. 262p et seq.) is amended by adding 
at the end the following: 
‘‘SEC. 1629. SUPPORT FOR CAPACITY OF THE INTER-
NATIONAL MONETARY FUND TO PREVENT 
MONEY LAUNDERING AND FINANCING OF 
TERRORISM. 
‘‘The Secretary of the Treasury shall instruct the 
United States Executive Director at the International 
Monetary Fund to support the increased use of the admin-
istrative budget of the Fund for technical assistance that 
strengthens the capacity of Fund members to prevent 
money laundering and the financing of terrorism.’’. 
(2) NATIONAL ADVISORY COUNCIL REPORT TO 
CONGRESS.—The Chairman of the National Advisory 
Council on International Monetary and Financial 
Policies shall include in the report required by sec-
tion 1701 of the International Financial Institutions 
Act (22 U.S.C. 262r) a description of— 
(A) the activities of the International Mon-
etary Fund in the most recently completed fis-
cal year to provide technical assistance that 
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strengthens the capacity of Fund members to 
prevent money laundering and the financing of 
terrorism, and the effectiveness of the assist-
ance; and 
(B) the efficacy of efforts by the United 
States to support such technical assistance 
through the use of the Fund’s administrative 
budget, and the level of such support. 
(3) SUNSET.—Effective on the date that is the 
end of the 4-year period beginning on the date of en-
actment of this Act, section 1629 of the Inter-
national Financial Institutions Act, as added by 
paragraph (1), is repealed. 
SEC. 106. TREASURY ATTACHE´ S PROGRAM. 
(a) IN GENERAL.—Title 31, United States Code, is 
amended by inserting after section 315 the following: 
‘‘§ 316. Treasury Attache´s Program 
‘‘(a) IN GENERAL.—There is established the Treas-
ury Attache´s Program, under which the Secretary of the 
Treasury shall appoint employees of the Department of 
the Treasury, after nomination by the Director of the Fi-
nancial Crimes Enforcement Network (‘FinCEN’), as a 
Treasury attache´, who shall— 
‘‘(1) be knowledgeable about the Bank Secrecy 
Act and anti-money laundering issues; 
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‘‘(2) be co-located in a United States embassy; 
‘‘(3) perform outreach with respect to Bank Se-
crecy Act and anti-money laundering issues; 
‘‘(4) establish and maintain relationships with 
foreign counterparts, including employees of min-
istries of finance, central banks, and other relevant 
official entities; 
‘‘(5) conduct outreach to local and foreign fi-
nancial institutions and other commercial actors, in-
cluding— 
‘‘(A) 
information 
exchanges 
through 
FinCEN and FinCEN programs; and 
‘‘(B) soliciting buy-in and cooperation for 
the implementation of— 
‘‘(i) United States and multilateral 
sanctions; and 
‘‘(ii) international standards on anti- 
money laundering and the countering of 
the financing of terrorism; and 
‘‘(6) perform such other actions as the Sec-
retary determines appropriate. 
‘‘(b) NUMBER OF ATTACHE´S.—The number of Treas-
ury attache´s appointed under this section at any one time 
shall be not fewer than 6 more employees than the number 
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of employees of the Department of the Treasury serving 
as Treasury attache´s on March 1, 2019. 
‘‘(c) COMPENSATION.—Each Treasury attache´ ap-
pointed under this section and located at a United States 
embassy shall receive compensation at the higher of— 
‘‘(1) the rate of compensation provided to a 
Foreign Service officer at a comparable career level 
serving at the same embassy; or 
‘‘(2) the rate of compensation the Treasury 
attache´ would otherwise have received, absent the 
application of this subsection. 
‘‘(d) BANK SECRECY ACT DEFINED.—In this section, 
the term ‘Bank Secrecy Act’ has the meaning given that 
term under section 5312.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
for chapter 3 of title 31, United States Code, is amended 
by inserting after the item relating to section 315 the fol-
lowing: 
‘‘316. Treasury Attache´s Program.’’. 
SEC. 
107. 
INCREASING 
TECHNICAL 
ASSISTANCE 
FOR 
INTERNATIONAL COOPERATION. 
(a) IN GENERAL.—There is authorized to be appro-
priated for each of fiscal years 2020 through 2024 to the 
Secretary of the Treasury for purposes of providing tech-
nical assistance that promotes compliance with inter-
national standards and best practices, including in par-
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ticular those aimed at the establishment of effective anti- 
money laundering and countering the financing of ter-
rorism regimes, in an amount equal to twice the amount 
authorized for such purpose for fiscal year 2019. 
(b) ACTIVITY AND EVALUATION REPORT.—Not later 
than 360 days after enactment of this Act, and every year 
thereafter for five years, the Secretary of the Treasury 
shall issue a report to the Congress on the assistance (as 
described under subsection (a)) of the Office of Technical 
Assistance of the Department of the Treasury con-
taining— 
(1) a narrative detailing the strategic goals of 
the Office in the previous year, with an explanation 
of how technical assistance provided in the previous 
year advances the goals; 
(2) a description of technical assistance pro-
vided by the Office in the previous year, including 
the objectives and delivery methods of the assist-
ance; 
(3) a list of beneficiaries and providers (other 
than Office staff) of the technical assistance; 
(4) a description of how technical assistance 
provided by the Office complements, duplicates, or 
otherwise affects or is affected by technical assist-
ance provided by the international financial institu-
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tions (as defined under section 1701(c) of the Inter-
national Financial Institutions Act); and 
(5) a copy of any Federal Government survey of 
staff perspectives at the Office of Technical Assist-
ance, including any findings regarding the Office 
from the most recently administered Federal Em-
ployee Viewpoint Survey. 
SEC. 108. FINCEN DOMESTIC LIAISONS. 
Section 310 of title 31, United States Code, as 
amended by section 102, is further amended by inserting 
after subsection (d) the following: 
‘‘(e) FINCEN DOMESTIC LIAISONS.— 
‘‘(1) IN GENERAL.—The Director of FinCEN 
shall appoint at least 6 senior FinCEN employees as 
FinCEN Domestic Liaisons, who shall— 
‘‘(A) each be assigned to focus on a spe-
cific region of the United States; 
‘‘(B) be located at an office in such region 
(or co-located at an office of the Board of Gov-
ernors of the Federal Reserve System in such 
region); and 
‘‘(C) perform outreach to BSA officers at 
financial institutions (including non-bank finan-
cial institutions) and persons who are not finan-
cial institutions, especially with respect to ac-
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tions taken by FinCEN that require specific ac-
tions by, or have specific effects on, such insti-
tutions or persons, as determined by the Direc-
tor. 
‘‘(2) DEFINITIONS.—In this subsection: 
‘‘(A) BSA OFFICER.—The term ‘BSA offi-
cer’ means an employee of a financial institu-
tion whose primary job responsibility involves 
compliance with the Bank Secrecy Act, as such 
term is defined under section 5312. 
‘‘(B) FINANCIAL INSTITUTION.—The term 
‘financial institution’ has the meaning given 
that term under section 5312.’’. 
SEC. 109. FINCEN EXCHANGE. 
Section 310 of title 31, United States Code, as 
amended by section 108, is further amended by inserting 
after subsection (e) the following: 
‘‘(f) FINCEN EXCHANGE.— 
‘‘(1) 
ESTABLISHMENT.—The 
FinCEN 
Ex-
change is hereby established within FinCEN, which 
shall consist of the FinCEN Exchange program of 
FinCEN in existence on the day before the date of 
enactment of this paragraph. 
‘‘(2) PURPOSE.—The FinCEN Exchange shall 
facilitate a voluntary public-private information 
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sharing partnership among law enforcement, finan-
cial institutions, and FinCEN to— 
‘‘(A) effectively and efficiently combat 
money laundering, terrorism financing, orga-
nized crime, and other financial crimes; 
‘‘(B) protect the financial system from il-
licit use; and 
‘‘(C) promote national security. 
‘‘(3) REPORT.— 
‘‘(A) IN
GENERAL.—Not later than one 
year after the date of enactment of this sub-
section, and annually thereafter for the next 
five years, the Secretary of the Treasury shall 
submit to the Committee on Financial Services 
of the House of Representatives and the Com-
mittee on Banking, Housing, and Urban Affairs 
of the Senate a report containing— 
‘‘(i) an analysis of the efforts under-
taken by the FinCEN Exchange and the 
results of such efforts; 
‘‘(ii) an analysis of the extent and ef-
fectiveness of the FinCEN Exchange, in-
cluding any benefits realized by law en-
forcement from partnership with financial 
institutions; and 
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‘‘(iii) any legislative, administrative, 
or other recommendations the Secretary 
may have to strengthen FinCEN Exchange 
efforts. 
‘‘(B) CLASSIFIED
ANNEX.—Each report 
under subparagraph (A) may include a classi-
fied annex. 
‘‘(4) INFORMATION SHARING REQUIREMENT.— 
Information shared pursuant to this subsection shall 
be shared in compliance with all other applicable 
Federal laws and regulations. 
‘‘(5) RULE OF CONSTRUCTION.—Nothing under 
this subsection may be construed to create new in-
formation sharing authorities related to the Bank 
Secrecy Act (as such term is defined under section 
5312 of title 31, United States Code). 
‘‘(6) FINANCIAL
INSTITUTION
DEFINED.—In 
this subsection, the term ‘financial institution’ has 
the meaning given that term under section 5312.’’. 
SEC. 110. STUDY AND STRATEGY ON TRADE-BASED MONEY 
LAUNDERING. 
(a) STUDY.—The Secretary of the Treasury shall 
carry out a study, in consultation with appropriate private 
sector stakeholders and Federal departments and agen-
cies, on trade-based money laundering. 
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(b) REPORT.—Not later than the end of the 1-year 
period beginning on the date of the enactment of this Act, 
the Secretary shall issue a report to the Congress con-
taining— 
(1) all findings and determinations made in car-
rying out the study required under subsection (a); 
and 
(2) proposed strategies to combat trade-based 
money laundering. 
(c) CLASSIFIED ANNEX.—The report required under 
this section may include a classified annex. 
(d) CONTRACTING AUTHORITY.—The Secretary may 
contract with a private third-party to carry out the study 
required under this section. The authority of the Secretary 
to enter into contracts under this subsection shall be in 
effect for each fiscal year only to the extent and in the 
amounts as are provided in advance in appropriations 
Acts. 
SEC. 111. STUDY AND STRATEGY ON DE-RISKING. 
(a) REVIEW.—The Secretary of the Treasury, in con-
sultation with appropriate private sector stakeholders, ex-
aminers, and the Federal functional regulators (as defined 
under section 103) and other relevant stakeholders, shall 
undertake a formal review of— 
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(1) any adverse consequences of financial insti-
tutions de-risking entire categories of relationships, 
including charities, embassy accounts, money serv-
ices 
businesses 
(as 
defined 
under 
section 
1010.100(ff) of title 31, Code of Federal Regula-
tions) and their agents, countries, international and 
domestic regions, and respondent banks; 
(2) the reasons why financial institutions are 
engaging in de-risking; 
(3) the association with and effects of de-risk-
ing on money laundering and financial crime actors 
and activities; 
(4) the most appropriate ways to promote fi-
nancial inclusion, particularly with respect to devel-
oping countries, while maintaining compliance with 
the Bank Secrecy Act, including an assessment of 
policy options to— 
(A) more effectively tailor Federal actions 
and penalties to the size of foreign financial in-
stitutions and any capacity limitations of for-
eign governments; and 
(B) reduce compliance costs that may lead 
to the adverse consequences described in para-
graph (1); 
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(5) formal and informal feedback provided by 
examiners that may have led to de-risking; 
(6) the relationship between resources dedicated 
to compliance and overall sophistication of compli-
ance efforts at entities that may be experiencing de- 
risking versus those that have not experienced de- 
risking; and 
(7) any best practices from the private sector 
that facilitate correspondent bank relationships. 
(b) DE-RISKING STRATEGY.—The Secretary shall de-
velop a strategy to reduce de-risking and adverse con-
sequences related to de-risking. 
(c) REPORT.—Not later than the end of the 1-year 
period beginning on the date of the enactment of this Act, 
the Secretary, in consultation with the Federal functional 
regulators and other relevant stakeholders, shall issue a 
report to the Congress containing— 
(1) all findings and determinations made in car-
rying out the study required under subsection (a); 
and 
(2) the strategy developed pursuant to sub-
section (b). 
(d) DEFINITIONS.—In this section: 
(1) 
DE-RISKING.—The 
term 
‘‘de-risking’’ 
means the wholesale closing of accounts or limiting 
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of financial services for a category of customer due 
to unsubstantiated risk as it relates to compliance 
with the Bank Secrecy Act. 
(2) BSA TERMS.—The terms ‘‘Bank Secrecy 
Act’’ and ‘‘financial institution’’ have the meaning 
given those terms, respectively, under section 5312 
off title 31, United States Code. 
SEC. 112. AML EXAMINATION AUTHORITY DELEGATION 
STUDY. 
(a) STUDY.—The Secretary of the Treasury shall 
carry out a study on the Secretary’s delegation of exam-
ination authority under the Bank Secrecy Act, including— 
(1) an evaluation of the efficacy of the delega-
tion, especially with respect to the mission of the 
Bank Secrecy Act; 
(2) whether the delegated agencies have appro-
priate resources to perform their delegated respon-
sibilities; and 
(3) whether the examiners in delegated agencies 
have sufficient training and support to perform their 
responsibilities. 
(b) REPORT.—Not later than one year after the date 
of enactment of this Act, the Secretary of the Treasury 
shall submit to the Committee on Financial Services of 
the House of Representatives and the Committee on 
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Banking, Housing, and Urban Affairs of the Senate a re-
port containing— 
(1) all findings and determinations made in car-
rying out the study required under subsection (a); 
and 
(2) recommendations to improve the efficacy of 
delegation authority, including the potential for de- 
delegation of any or all such authority where it may 
be appropriate. 
(c) BANK
SECRECY
ACT
DEFINED.—The term 
‘‘Bank Secrecy Act’’ has the meaning given that term 
under section 5312 off title 31, United States Code. 
SEC. 113. STUDY AND STRATEGY ON CHINESE MONEY 
LAUNDERING. 
(a) STUDY.—The Secretary of the Treasury shall 
carry out a study on the extent and effect of Chinese 
money laundering activities in the United States, including 
territories and possessions of the United States, and 
worldwide. 
(b) STRATEGY TO COMBAT CHINESE MONEY LAUN-
DERING.—Upon the completion of the study required 
under subsection (a), the Secretary shall, in consultation 
with such other Federal departments and agencies as the 
Secretary determines appropriate, develop a strategy to 
combat Chinese money laundering activities. 
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(c) REPORT.—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 a report to Congress 
containing— 
(1) all findings and determinations made in car-
rying out the study required under subsection (a); 
and 
(2) the strategy developed under subsection (b). 
TITLE II—IMPROVING AML/CFT 
OVERSIGHT 
SEC. 201. PILOT PROGRAM ON SHARING OF SUSPICIOUS 
ACTIVITY REPORTS WITHIN A FINANCIAL 
GROUP. 
(a) IN GENERAL.— 
(1) SHARING WITH FOREIGN BRANCHES AND 
AFFILIATES.—Section 5318(g) of title 31, United 
States Code, is amended by adding at the end the 
following: 
‘‘(5) PILOT PROGRAM ON SHARING WITH FOR-
EIGN BRANCHES, SUBSIDIARIES, AND AFFILIATES.— 
‘‘(A) IN GENERAL.—The Secretary of the 
Treasury shall issue rules establishing the pilot 
program described under subparagraph (B), 
subject to such controls and restrictions as the 
Director of the Financial Crimes Enforcement 
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