Title: End Banking for Human Traffickers Act of 2017
Policy area: Finance and Financial Sector

Summary:
End Banking for Human Traffickers Act of 2017
This bill revises the duties of the Department of the Treasury's Office of Terrorism and Financial Intelligence to include combating illicit financing relating to human trafficking.
The bill amends the Trafficking Victims Protection Act of 2000 to direct the Interagency Task Force to Monitor and Combat Trafficking to report on efforts to eliminate money laundering relating to human trafficking.
The Federal Financial Institutions Examinations Council must review procedures relating to the detection and deterrence of human trafficking-related financial transactions.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 2080 Introduced in Senate (IS)]

<DOC>






115th CONGRESS
  1st Session
                                S. 2080

   To increase the role of the financial industry in combating human 
                              trafficking.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 6, 2017

 Ms. Warren (for herself and Mr. Rubio) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To increase the role of the financial industry in combating human 
                              trafficking.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``End Banking for Human Traffickers 
Act of 2017''.

SEC. 2. COORDINATION OF HUMAN TRAFFICKING ISSUES BY THE OFFICE OF 
              TERRORISM AND FINANCIAL INTELLIGENCE.

    (a) Functions.--Section 312(a)(4) of title 31, United States Code, 
is amended--
            (1) by redesignating subparagraphs (E), (F), and (G) as 
        subparagraphs (F), (G), and (H), respectively; and
            (2) by inserting after subparagraph (D) the following:
                    ``(E) combating illicit financing relating to human 
                trafficking;''.
    (b) Interagency Coordination.--Section 312(a) of such title is 
amended by adding at the end the following:
            ``(8) Interagency coordination.--The Secretary of the 
        Treasury, after consultation with the Undersecretary for 
        Terrorism and Financial Crimes, shall designate an office 
        within the OTFI that shall coordinate efforts to combat the 
        illicit financing of human trafficking with--
                    ``(A) other offices of the Department of the 
                Treasury;
                    ``(B) other Federal agencies, including--
                            ``(i) the Office to Monitor and Combat 
                        Trafficking in Persons of the Department of 
                        State; and
                            ``(ii) the Interagency Task Force to 
                        Monitor and Combat Trafficking;
                    ``(C) State and local law enforcement agencies; and
                    ``(D) foreign governments.''.

SEC. 3. STRENGTHENING THE ROLE OF ANTI-MONEY LAUNDERING AND OTHER 
              FINANCIAL TOOLS IN COMBATING HUMAN TRAFFICKING.

    (a) Interagency Task Force Recommendations Targeting Money 
Laundering Related to Human Trafficking.--
            (1) In general.--Not later than 270 days after the date of 
        the enactment of this Act, the Interagency Task Force to 
        Monitor and Combat Trafficking shall submit to the Committee on 
        Banking, Housing, and Urban Affairs of the Senate, the 
        Committee on the Judiciary of the Senate, the Committee on 
        Financial Services of the House of Representatives, the 
        Committee on the Judiciary of the House of Representatives, the 
        Secretary of the Treasury, and each appropriate Federal banking 
        agency--
                    (A) an analysis of anti-money laundering efforts of 
                the United States Government and United States 
                financial institutions related to human trafficking; 
                and
                    (B) appropriate legislative, administrative, and 
                other recommendations to strengthen efforts against 
                money laundering relating to human trafficking.
            (2) Required recommendations.--The recommendations under 
        paragraph (1) shall include--
                    (A) best practices based on successful anti-human 
                trafficking programs currently in place at financial 
                institutions that are suitable for broader adoption;
                    (B) stakeholder feedback on policy proposals 
                derived from the analysis conducted by the task force 
                referred to in paragraph (1) that would enhance the 
                efforts and programs of financial institutions to 
                detect and deter money laundering related to human 
                trafficking, including any recommended changes to 
                internal policies, procedures, and controls related to 
                human trafficking;
                    (C) any recommended changes to training programs at 
                financial institutions to better equip employees to 
                deter and detect money laundering related to human 
                trafficking; and
                    (D) any recommended changes to expand human 
                trafficking-related information sharing among financial 
                institutions and between such financial institutions, 
                appropriate law enforcement agencies, and appropriate 
                Federal agencies.
    (b) Additional Reporting Requirement.--Section 105(d)(7) of the 
Trafficking Victims Protection Act of 2000 (22 U.S.C. 7103(d)(7)) is 
amended--
            (1) in the matter preceding subparagraph (A)--
                    (A) by inserting ``the Committee on Financial 
                Services,'' after ``the Committee on Foreign Affairs''; 
                and
                    (B) by inserting ``the Committee on Banking, 
                Housing, and Urban Affairs'' after ``the Committee on 
                Foreign Relations,'';
            (2) in subparagraph (Q)(vii), by striking ``; and'' and 
        inserting a semicolon;
            (3) in subparagraph (R), by striking the period at the end 
        and inserting ``; and''; and
            (4) by adding at the end the following:
                    ``(S) the efforts of the United States to eliminate 
                money laundering related to human trafficking and the 
                number of investigations, arrests, indictments, and 
                convictions in money laundering cases with a nexus to 
                human trafficking.''.
    (c) Required Review of Procedures.--Not later than 180 days after 
the date of the enactment of this Act, the Federal Financial 
Institutions Examination Council, in consultation with the Secretary of 
the Treasury, the private sector, and appropriate law enforcement 
agencies, shall--
            (1) review and enhance training and examinations procedures 
        to improve the surveillance capabilities of anti-money 
        laundering, and countering the financing of terrorism programs 
        to detect human trafficking-related financial transactions;
            (2) review and enhance procedures for referring potential 
        human trafficking cases to the appropriate law enforcement 
        agency; and
            (3) determine, as appropriate, whether requirements for 
        financial institutions and covered financial institutions are 
        sufficient to detect and deter money laundering related to 
        human trafficking.
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