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OFAC Licenses for Private Investigators to Combat Financial Crime.

This act establishes a pilot program allowing private investigation firms to obtain licenses for conducting minor financial transactions during their investigations. The goal is to enhance efforts against financial crimes and sanctions violations. This could indirectly contribute to greater financial security for citizens.
Key points
Private firms can get special licenses to conduct small financial transactions for investigative purposes.
The program aims to support the fight against financial crime and sanctions evasion, potentially improving enforcement against illicit activities.
It's a five-year pilot program with regular reporting to Congress on its effectiveness, ensuring oversight.
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Status:
Expired
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Additional Information
Print number: 118_HR_6370
Sponsor: Rep. Beatty, Joyce [D-OH-3]
Process start date: 2023-11-13
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
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

OFAC Licensure for Investigators Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6370.

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 2023-11-13.

What are the main provisions?

Key points include:

  • Private firms can get special licenses to conduct small financial transactions for investigative purposes.
  • The program aims to support the fight against financial crime and sanctions evasion, potentially improving enforcement against illicit activities.
  • It's a five-year pilot program with regular reporting to Congress on its effectiveness, ensuring oversight.
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. Beatty, Joyce [D-OH-3].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: 1/10/2024 CR H37)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-13.

What is the impact of this bill?

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.

CATEGORIES

Courts and Law Economy