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Secret Service Powers Expanded to Fight Cyber Money Laundering and Digital Crime.

This Act strengthens the Secret Service's authority to investigate financial crimes involving digital assets, such as money laundering and fraud. These changes aim to enhance citizens' financial security by more effectively combating transnational cyber crime and illegal financial operations. The law also extends the period government agencies can share crucial anti-money laundering information with financial institutions to better protect the banking system.
Key points
The Secret Service gains new authority to investigate unlicensed money transmitting businesses and money laundering, particularly concerning digital transactions.
Extends the period from 5 to 10 years for FinCEN to share information with financial institutions to prevent financial crimes.
Strengthens the fight against financial fraud by covering a broader range of financial institutions, regardless of federal insurance status.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_5877
Sponsor: Rep. Fitzgerald, Scott [R-WI-5]
Process start date: 2025-10-31
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Combatting Money Laundering in Cyber Crime Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_5877.

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 2025-10-31.

What are the main provisions?

Key points include:

  • The Secret Service gains new authority to investigate unlicensed money transmitting businesses and money laundering, particularly concerning digital transactions.
  • Extends the period from 5 to 10 years for FinCEN to share information with financial institutions to prevent financial crimes.
  • Strengthens the fight against financial fraud by covering a broader range of financial institutions, regardless of federal insurance status.
What is the specific legal status?

The current status is Introduced.

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: Ordered to be Reported (Amended) by the Yeas and Nays: 54 - 0.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Security Courts and Law Economy