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FinCEN Modernization: New Technologies to Combat Financial Crime

This act aims to modernize how the Financial Crimes Enforcement Network (FinCEN) uses technology to detect illicit activities like money laundering. Citizens can expect safer financial systems and better protection against fraud, especially concerning new technologies such as cryptocurrencies.
Key points
FinCEN will invest in new technologies like machine learning and data analytics to more effectively detect financial crimes.
The agency gains new authorities to acquire innovative tools and technologies faster, including through accepting donations.
FinCEN's ability to monitor cryptocurrencies and other emerging financial technologies for their potential use in illicit activities will be enhanced.
Information sharing between FinCEN and other government agencies will improve, increasing the effectiveness of combating crime.
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Status:
Expired
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Additional Information
FinCEN Modernization Act of 2022
Print number: HR 9301
Sponsor: Rep. Donalds, Byron [R-FL-19]
Process start date: 2022-11-15
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about FinCEN Modernization: New Technologies to Combat Financial Crime

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 9301.

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 2022-11-15.

What are the main provisions?

Key points include:

  • FinCEN will invest in new technologies like machine learning and data analytics to more effectively detect financial crimes.
  • The agency gains new authorities to acquire innovative tools and technologies faster, including through accepting donations.
  • FinCEN's ability to monitor cryptocurrencies and other emerging financial technologies for their potential use in illicit activities will be enhanced.
  • Information sharing between FinCEN and other government agencies will improve, increasing the effectiveness of combating 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. Donalds, Byron [R-FL-19].

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.

Analysis and Potential Impact of HR 9301

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Security Economy Informatization