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Anti-Money Laundering: New Rules for Precious Metals Transactions

This bill requires the Treasury Department to consider precious metals transactions when identifying countries at high risk for money laundering. The aim is to make it harder for criminals to hide illegal money through gold or silver trade, potentially increasing financial security and reducing fraud risks.
Key points
The Treasury Department will now analyze precious metals transactions to identify countries with significant money laundering concerns.
This change aims to strengthen the fight against illegal money flows, indirectly protecting citizens from financial crime.
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Expired
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Additional Information
Print number: 117_HR_5843
Sponsor: Rep. Issa, Darrell E. [R-CA-50]
Process start date: 2021-11-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To require the Secretary of the Treasury to consider certain transactions related to precious metals for purposes of identifying jurisdictions of primary money laundering concern, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5843.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-11-03.

What are the main provisions?

Key points include:

  • The Treasury Department will now analyze precious metals transactions to identify countries with significant money laundering concerns.
  • This change aims to strengthen the fight against illegal money flows, indirectly protecting citizens from financial crime.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Issa, Darrell E. [R-CA-50].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Security Courts and Law