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Combating Money Laundering, Terrorist Financing, and Counterfeiting Act.

This act strengthens laws against money laundering, terrorist financing, and counterfeiting. It introduces harsher penalties, simplifies prosecution, and expands law enforcement powers. The goal is to enhance financial security and hinder criminal activities, indirectly impacting citizen safety and economic stability.
Key points
Increased prison sentences for bulk cash smuggling to 10 years.
Easier prosecution for money laundering, even with commingled funds or aggregated transactions.
Strengthened regulations for illegal money services businesses, including hawalas (informal value transfer systems).
Expanded authority for Secret Service to investigate money laundering and counterfeiting.
Mandatory threat analysis on the use of remittances for financing terrorism, drug trafficking, and human trafficking.
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Expired
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Additional Information
Print number: 117_S_3697
Sponsor: Sen. Grassley, Chuck [R-IA]
Process start date: 2022-02-17
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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

Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3697.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-02-17.

What are the main provisions?

Key points include:

  • Increased prison sentences for bulk cash smuggling to 10 years.
  • Easier prosecution for money laundering, even with commingled funds or aggregated transactions.
  • Strengthened regulations for illegal money services businesses, including hawalas (informal value transfer systems).
  • Expanded authority for Secret Service to investigate money laundering and counterfeiting.
  • Mandatory threat analysis on the use of remittances for financing terrorism, drug trafficking, and human trafficking.
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 Sen. Grassley, Chuck [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Courts and Law Security Economy