April 3, 2025
Ms. Cortez Masto (for herself and Mr. Grassley) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To strengthen the authority of the United States Secret Service to investigate various crimes related to digital asset transactions and to counter transnational cyber criminal activity, including unlicensed money transmitting businesses, structured transactions, and fraud against financial institutions, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the Combatting Money Laundering in Cyber Crime Act of 2025
.
Sec. 2. Expansion of United States Secret Service investigative authorities
Section 3056(b) of title 18, United States Code, is amended—
(1)
in paragraph (1), by striking or
after 871
and inserting , or 1960
after 879
; and
(2)
in paragraph (3)—
(A)
by inserting money laundering, structured transactions,
after documents or devices,
;
(B)
by striking federally insured
; and
(C)
by inserting , as defined in section 5312 of title 31
after institution
.
Sec. 3. FinCEN exchange
Section 310(d)(3)(A) of title 31, United States Code, is amended, in the matter preceding clause (i), by striking 5 years
and inserting 10 years
.
Sec. 4. International financial institutions
Section 7125(b) of the Otto Warmbier North Korea Nuclear Sanctions and Enforcement Act of 2019 (22 U.S.C. 262p–13 note) is amended by striking 6
and inserting 10
.
Sec. 5. Report
(a) In general
Not later than 1 year after the date of enactment of this Act, the Government Accountability Office shall conduct a study and submit to the appropriate committees of Congress a report on the implementation of section 6102 of the Anti-Money Laundering Act of 2020 (title LXI of division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283; 134 Stat. 4552)).
(b) Focus
In conducting the study under subsection (a), the Government Accountability Office shall focus on evaluating the ability of law enforcement to identify and deter money laundering in cyber crimes.