Gun Violence Prevention: Financial Tracking of Firearm Purchases
This new law requires the FinCEN agency to collect information from financial institutions. The goal is to understand how domestic terrorists acquire firearms. This aims to help identify suspicious transactions and prevent acts of violence.
Key points
Financial institutions will be asked for information on firearm and accessory purchases by suspected terrorists.
FinCEN is to issue guidelines for banks on how to identify and report suspicious firearm-related transactions.
The act aims to hinder terrorists' access to firearms by monitoring financial flows.
Status:
Introduced
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