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Easier Global Tracking of Oligarchs' Assets

This act aims to make it easier for authorities to track hidden assets, especially those belonging to foreign oligarchs, including Russian and Belarusian ones. The changes allow for nationwide orders regarding financial and non-financial transactions, increasing transparency and making it harder to hide illicit funds. Citizens may feel an indirect impact through strengthened efforts against financial crime.
Key points
Authorities can now issue orders for financial transactions covering the entire country, not just specific areas.
The Financial Crimes Enforcement Network (FinCEN) will gain access to information on foreign non-financial businesses involved in illicit activities, making asset tracking easier.
The act aims to make it harder for individuals involved in illicit activities, including oligarchs, to hide their assets.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_7080
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2022-03-15
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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

Nowhere to Hide Oligarchs’ Assets Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7080.

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 2022-03-15.

What are the main provisions?

Key points include:

  • Authorities can now issue orders for financial transactions covering the entire country, not just specific areas.
  • The Financial Crimes Enforcement Network (FinCEN) will gain access to information on foreign non-financial businesses involved in illicit activities, making asset tracking easier.
  • The act aims to make it harder for individuals involved in illicit activities, including oligarchs, to hide their assets.
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. Waters, Maxine [D-CA-43].

What is the latest detailed status?

The latest detailed status is: Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 26 - 23.

Is this summary verified?

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

CATEGORIES

Courts and Law Economy