Title: Remittances and Money Laundering Risk Assessment Act of 2019
Policy area: Crime and Law Enforcement

Summary:
Remittances and Money Laundering Risk Assessment Act of 2019
This bill requires the Department of the Treasury to assess and develop a strategy to prevent the use of remittances by certain individuals and crime syndicates for purposes of financing terrorism, narcotics trafficking, human trafficking, money laundering, and other forms of illicit financing. (Remittances are transfers of money and capital sent by migrants and foreign immigrant communities to their home countries.)

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2144 Introduced in Senate (IS)]

<DOC>






116th CONGRESS
  1st Session
                                S. 2144

   To require the Secretary of the Treasury to prepare a threat and 
operational analysis of the use of remittances by drug kingpins, crime 
     syndicates, and other persons to finance terrorism, narcotics 
 trafficking, human trafficking, money laundering, and other forms of 
          illicit financing, domestically or internationally.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 17, 2019

  Mr. Cornyn introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To require the Secretary of the Treasury to prepare a threat and 
operational analysis of the use of remittances by drug kingpins, crime 
     syndicates, and other persons to finance terrorism, narcotics 
 trafficking, human trafficking, money laundering, and other forms of 
          illicit financing, domestically or internationally.

    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 ``Remittances and Money Laundering 
Risk Assessment Act of 2019''.

SEC. 2. REMITTANCES AND MONEY LAUNDERING THREAT ANALYSIS.

    (a) Definitions.--In this section--
            (1) the term ``appropriate congressional committees'' 
        means--
                    (A) the Committee on the Judiciary of the Senate;
                    (B) the Committee on Homeland Security and 
                Governmental Affairs of the Senate;
                    (C) the Caucus on International Narcotics Control 
                of the Senate;
                    (D) the Committee on Banking, Housing, and Urban 
                Affairs of the Senate;
                    (E) the Committee on the Judiciary of the House of 
                Representatives;
                    (F) the Committee on Homeland Security of the House 
                of Representatives; and
                    (G) the Committee on Financial Services of the 
                House of Representatives;
            (2) the term ``drug kingpins, crime syndicates, and other 
        persons'', with respect to the use of remittances to finance 
        terrorism, narcotics trafficking, human trafficking, money 
        laundering, and other forms of illicit financing, domestically 
        or internationally, means any persons who--
                    (A) are connected to individuals and organizations 
                associated with financing terrorism, narcotics 
                trafficking, human trafficking, money laundering, and 
                other forms of illicit financing, domestically or 
                internationally; and
                    (B) have been designated as--
                            (i) a significant foreign narcotics 
                        trafficker under the Foreign Narcotics Kingpin 
                        Designation Act (21 U.S.C. 1901 et seq.);
                            (ii) a transnational criminal organization 
                        under Executive Order 13581 (50 U.S.C. 1701 
                        note; relating to blocking property of 
                        transnational criminal organizations); or
                            (iii) a Specially Designated Global 
                        Terrorist under Executive Order 13224 (50 
                        U.S.C. 1701 note; relating to blocking property 
                        and prohibiting transactions with persons who 
                        commit, threaten to commit, or support 
                        terrorism);
            (3) the term ``human trafficking'' has the meaning given 
        the term ``severe forms of trafficking in persons'' in section 
        103 of the Trafficking Victims Protection Act of 2000 (22 
        U.S.C. 7102);
            (4) the term ``money services business'' has the meaning 
        given the term in section 1010.100 of title 31, Code of Federal 
        Regulations, or any successor regulation; and
            (5) the term ``money transmitting service'' has the meaning 
        given the term in section 5330 of title 31, United States Code.
    (b) Analysis.--
            (1) Requirement.--Not later than 1 year after the date of 
        the enactment of this Act, the Secretary of the Treasury, in 
        consultation with the Attorney General, the Secretary of 
        Homeland Security, and the head of any other appropriate 
        Federal law enforcement agency, shall submit to the appropriate 
        congressional committees a threat and operational analysis of 
        the use of remittances by drug kingpins, crime syndicates, and 
        other persons to finance terrorism, narcotics trafficking, 
        human trafficking, money laundering, and other forms of illicit 
        financing, domestically or internationally.
            (2) Contents.--The Secretary of the Treasury shall include 
        in the threat and operational analysis required under paragraph 
        (1) the following:
                    (A) Current and potential threats posed by 
                individuals and organized groups seeking--
                            (i) to exploit security vulnerabilities 
                        with respect to remittances and money 
                        transmitting services; or
                            (ii) to unlawfully use remittances to 
                        finance terrorism, narcotics trafficking, human 
                        trafficking, money laundering, or other forms 
                        of illicit financing, domestically or 
                        internationally.
                    (B) Methods and pathways used to exploit security 
                vulnerabilities.
                    (C) Challenges presented by identity theft in the 
                use of remittances and money transmitting services.
                    (D) Improvements needed to enhance cooperation 
                between and among Federal, State, and local officials, 
                including State regulators, State and local 
                prosecutors, and other law enforcement officials.
                    (E) Improvements needed to enhance cooperation 
                between money services businesses and Federal, State, 
                and local officials, including State regulators, State 
                and local prosecutors, and other law enforcement 
                officials.
            (3) Analysis requirements.--In compiling the threat and 
        operational analysis required under paragraph (1), the 
        Secretary of the Treasury, in consultation with the Attorney 
        General, the Secretary of Homeland Security, and the head of 
        any other appropriate Federal law enforcement agency, shall 
        consider and examine the personnel needs, technology needs, and 
        infrastructure needs of Federal law enforcement agencies.
    (c) Remittances Strategy and Implementation Plan.--
            (1) In general.--Not later than 180 days after the date on 
        which the Secretary of the Treasury submits the threat analysis 
        under subsection (b), and every 5 years thereafter for 10 
        years, the Secretary of the Treasury, in consultation with the 
        Attorney General, the Secretary of Homeland Security, and the 
        head of any other appropriate Federal law enforcement agency, 
        shall submit to the appropriate congressional committees a 
        remittances strategy and implementation plan.
            (2) Contents.--In preparing the remittances strategy and 
        implementation plan under paragraph (1), the Secretary of the 
        Treasury shall consider the following:
                    (A) The remittances threat and operational analysis 
                required under subsection (b), with an emphasis on 
                efforts to mitigate threats and challenges identified 
                in the analysis.
                    (B) Efforts to reduce the use of remittances and 
                money transmitting services by drug kingpins, crime 
                syndicates, and other persons to finance terrorism, 
                narcotics trafficking, human trafficking, money 
                laundering, and other forms of illicit financing, 
                domestically or internationally.
                    (C) Efforts to prevent human trafficking and the 
                unlawful movement of illicit drugs and other contraband 
                through the use of remittances and money transmitting 
                services, and standards against which the effectiveness 
                of those efforts may be determined.
                    (D) Efforts to focus collection and information 
                analysis to disrupt transnational criminal 
                organizations attempting to exploit security 
                vulnerabilities, and standards against which the 
                effectiveness of those efforts may be determined.
                    (E) Personnel, technology, and infrastructure needs 
                of Federal law enforcement agencies.
                    (F) Efforts to prevent, detect, investigate, and 
                mitigate money laundering activities through 
                remittances and money transmitting services, and 
                standards against which the effectiveness of those 
                efforts may be determined.
                                 <all>