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Combating Fentanyl: New Treasury Powers Against Money Laundering

This act grants the U.S. Treasury Department new tools to combat illicit fentanyl trafficking. It allows for the imposition of special measures on foreign financial institutions and transactions linked to fentanyl-related money laundering. The goal is to disrupt financial flows for criminals, potentially reducing the availability of this dangerous substance.
Key points
The Treasury Department can impose restrictions on foreign banks and transactions suspected of fentanyl-related money laundering.
U.S. banks will be required to implement special precautions for suspicious fentanyl-related transactions.
Penalties and civil actions are in place for violations of these new rules.
The Treasury Department must report on further actions needed to combat fentanyl money laundering.
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Additional Information
Print number: 118_HR_3231
Sponsor: Rep. Gallego, Ruben [D-AZ-3]
Process start date: 2023-05-11
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OFFICIAL LEGAL TITLE

Buck Stops Here Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3231.

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 2023-05-11.

What are the main provisions?

Key points include:

  • The Treasury Department can impose restrictions on foreign banks and transactions suspected of fentanyl-related money laundering.
  • U.S. banks will be required to implement special precautions for suspicious fentanyl-related transactions.
  • Penalties and civil actions are in place for violations of these new rules.
  • The Treasury Department must report on further actions needed to combat fentanyl money laundering.
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. Gallego, Ruben [D-AZ-3].

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 2025-12-25.

CATEGORIES

Security Courts and Law Economy