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Expanding Secret Service Powers to Combat Money Laundering and Cyber Crime

This Act strengthens the government's ability to prosecute financial and cyber crimes by expanding the investigative authorities of the Secret Service. The agency will be able to investigate a wider range of financial institutions and violations of financial reporting requirements. Additionally, the FinCEN Exchange information-sharing program is extended by changing its authorization period from 5 to 10 years.
Key points
The Secret Service gains new authority to investigate illegal money transmitting offenses and violations of financial transaction reporting rules.
The scope of financial institutions subject to Secret Service investigations is broadened by removing the requirement for them to be federally insured.
The authorization for the FinCEN Exchange program is extended from 5 to 10 years.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_7156
Sponsor: Rep. Fitzgerald, Scott [R-WI-5]
Process start date: 2024-01-31
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Combating Money Laundering in Cyber Crime Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7156.

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 2024-01-31.

What are the main provisions?

Key points include:

  • The Secret Service gains new authority to investigate illegal money transmitting offenses and violations of financial transaction reporting rules.
  • The scope of financial institutions subject to Secret Service investigations is broadened by removing the requirement for them to be federally insured.
  • The authorization for the FinCEN Exchange program is extended from 5 to 10 years.
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. Fitzgerald, Scott [R-WI-5].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 490.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Security Courts and Law Economy