Title: No Bank Accounts for Terrorists Act
Policy area: Finance and Financial Sector

Summary:
No Bank Accounts for Terrorists Act
This bill allows the Department of the Treasury to impose restrictions regarding an entity or activity determined to be of primary money-laundering concern in connection with illicit finance in Afghanistan. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may (1) require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity; or (2) prohibit, or impose certain conditions upon, the transmittal of funds involving any domestic financial institution or agency and that entity or activity.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6511 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 6511

   To direct the Secretary of the Treasury to determine if there are 
reasonable grounds to conclude that there is a primary money laundering 
   concern in connection with Afghan illicit finance, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 28, 2022

 Mr. Auchincloss introduced the following bill; which was referred to 
                  the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To direct the Secretary of the Treasury to determine if there are 
reasonable grounds to conclude that there is a primary money laundering 
   concern in connection with Afghan illicit finance, and for other 
                               purposes.

    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 ``No Bank Accounts for Terrorists 
Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) There is evidence to suggest that the Taliban raises 
        revenue to support nefarious and illicit activities through 
        donations from foreign individuals, illicit drug exports, and 
        precious mineral extraction.
            (2) In August 2021, following the desertion of Afghan 
        President Ashraf Ghani and the withdrawal of United States 
        troops, the Taliban assumed control of the majority of 
        Afghanistan.
            (3) Members of the Taliban are listed on the Department of 
        the Treasury's Specially Designated Nationals And Blocked 
        Persons List.
            (4) The Department of the Treasury's Office of Foreign 
        Assets Control (OFAC) has issued two general licenses (GLs) to 
        support humanitarian assistance to the Afghanistan people.
            (5) The Department of the Treasury can issue special 
        measures for entities that are considered a primary money 
        laundering concern.

SEC. 3. DETERMINATION WITH RESPECT TO PRIMARY MONEY LAUNDERING CONCERN 
              OF AFGHAN ILLICIT FINANCE.

    (a) Determination.--If the Secretary of the Treasury determines 
that reasonable grounds exist for concluding that one or more financial 
institutions operating outside of the United States, or 1 or more 
classes of transactions within, or involving, a jurisdiction outside of 
the United States, or 1 or more types of accounts within, or involving, 
a jurisdiction outside of the United States is of primary money 
laundering concern in connection with Afghan illicit finance, the 
Secretary of the Treasury may, by order, regulation, or otherwise as 
permitted by law--
            (1) require domestic financial institutions and domestic 
        financial agencies to take 1 or more of the special measures 
        described in section 5318A(b) of title 31, United States Code; 
        or
            (2) prohibit, or impose conditions upon, certain 
        transmittals of funds (to be defined by the Secretary) 
        involving any domestic financial institution or domestic 
        financial agency, if such transmittal of funds involves any 
        such institution, class of transaction, or type of account.
    (b) Report Required.--
            (1) In general.--Not later than 1 year after the date of 
        enactment of this Act, the Secretary of the Treasury shall 
        submit to the Committees on Financial Services and Foreign 
        Affairs of the House of Representatives and the Committees on 
        Banking, Housing, and Urban Affairs and Foreign Relations of 
        the Senate a report that shall identify any additional 
        regulations, statutory changes, enhanced due diligence, and 
        reporting requirements that are necessary to better identify, 
        prevent, and combat money laundering linked to Afghanistan, 
        including related to--
                    (A) identifying the beneficial ownership of 
                anonymous companies;
                    (B) strengthening current, or enacting new, 
                reporting requirements and customer due diligence 
                requirements for sectors and entities that support 
                illicit financial activity related to Afghanistan; and
                    (C) enhanced know-your-customer procedures and 
                screening for transactions involving Afghan political 
                leaders, Afghan state-owned or -controlled enterprises, 
                and known Afghan transnational organized crime figures.
            (2) Format.--The report required under this subsection 
        shall be made available to the public, including on the website 
        of the Department of the Treasury, but may contain a classified 
        annex and be accompanied by a classified briefing.
    (c) Sense of Congress on International Cooperation.--It is the 
sense of the Congress that the Secretary of the Treasury and other 
relevant cabinet members (such as the Secretary of State, Secretary of 
Homeland Security, and Attorney General) should work jointly with 
European, E.U., and U.K. financial intelligence units, trade 
transparency units, and appropriate law enforcement authorities to 
present, both in the report required under subsection (b) and in future 
analysis of suspicious transaction reports, cash transaction reports, 
currency and monetary instrument reports, and other relevant data to 
identify trends and assess risks in the movement of illicit funds from 
Afghanistan through the United States, British, and European financial 
systems.
    (d) Classified Information.--In any judicial review of a finding of 
the existence of a primary money laundering concern, or of the 
requirement for 1 or more special measures with respect to a primary 
money laundering concern made under this section, if the designation or 
imposition, or both, were based on classified information (as defined 
in section 1(a) of the Classified Information Procedures Act (18 U.S.C. 
App.)), such information may be submitted by the Secretary to the 
reviewing court ex parte and in camera. This subsection does not confer 
or imply any right to judicial review of any finding made or any 
requirement imposed under this section.
    (e) Availability of Information.--The exemptions from, and 
prohibitions on, search and disclosure provided in section 5319 of 
title 31, United States Code, shall apply to any report or record of 
report filed pursuant to a requirement imposed under subsection (a) of 
this section. For purposes of section 552 of title 5, United States 
Code, this subsection shall be considered a statute described in 
subsection (b)(3)(B) of that section.
    (f) Penalties.--The penalties provided for in sections 5321 and 
5322 of title 31, United States Code, that apply to violations of 
special measures imposed under section 5318A of title 31, United States 
Code, shall apply to violations of any order, regulation, special 
measure, or other requirement imposed under subsection (a) of this 
section, in the same manner and to the same extent as described in 
sections 5321 and 5322.
    (g) Injunctions.--The Secretary of the Treasury may bring a civil 
action to enjoin a violation of any order, regulation, special measure, 
or other requirement imposed under subsection (a) of this section in 
the same manner and to the same extent as described in section 5320 of 
title 31, United States Code.
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