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Study on Digital Location Obfuscation for Financial Security

This act requires the U.S. Treasury Department to study how digital location-hiding techniques (e.g., VPNs) are used for money laundering and sanctions evasion. The goal is to understand how financial technology platforms can better verify user locations to enhance national and financial security. Citizens might experience indirect effects in the future if new regulations on identity verification in financial apps arise from the report.
Key points
The U.S. government will study how criminals use location obfuscation techniques for illicit financial activities like money laundering and sanctions evasion.
The analysis will focus on how financial technology platforms can more effectively verify user locations to prevent crimes.
Within one year, the Treasury Department will submit a report to Congress detailing the study's findings, assessing the costs and benefits of modernizing location verification systems.
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Additional Information
Print number: 118_HR_6605
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2023-12-05
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OFFICIAL LEGAL TITLE

STIFLE Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6605.

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 2023-12-05.

What are the main provisions?

Key points include:

  • The U.S. government will study how criminals use location obfuscation techniques for illicit financial activities like money laundering and sanctions evasion.
  • The analysis will focus on how financial technology platforms can more effectively verify user locations to prevent crimes.
  • Within one year, the Treasury Department will submit a report to Congress detailing the study's findings, assessing the costs and benefits of modernizing location verification systems.
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. Nunn, Zachary [R-IA-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 2026-01-13.

CATEGORIES

Security Economy