HR 1577 ยท Stop Fentanyl Money Laundering Act of 2025
Placed on the Union Calendar, Calendar No. 12.
- Introduced
- Feb 25, 2025
- Latest action
- Mar 21, 2025
- Sponsor
- Rep. Andrew Ogles [R-TN-5]
- Policy area
- Finance and Financial Sector
- Cosponsors
- 9
Summary
Stop Fentanyl Money Laundering Act of 2025 This bill expands efforts to prevent money laundering related to international fentanyl and narcotics distribution. The bill allows the Department of the Treasury to impose restrictions on an entity or activity determined to be of primary money-laundering concern in connection with illicit fentanyl and narcotics trafficking. Specifically, if Treasury determines that a foreign financial institution, class of transaction, or type of account is of such concern, Treasury may require domestic financial institutions and agencies to take special measures, such as reporting certain financial transactions involving that entity or activity. The Financial Crimes Enforcement Network (FinCEN) must issue advisories to financial institutions about how to identify Chinese money laundering that facilitates the trafficking of fentanyl and other synthetic opioids. FinCEN must also issue guidance to financial institutions for filing suspicious transaction reports related to suspected narcotics trafficking by transnational criminal organizations.
Recent actions
- Mar 21, 2025 Placed on the Union Calendar, Calendar No. 12.
- Mar 21, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-22.
- Mar 21, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-22.
- Mar 5, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.
- Mar 5, 2025 Committee Consideration and Mark-up Session Held
- Feb 25, 2025 Referred to the House Committee on Financial Services.
- Feb 25, 2025 Introduced in House
- Feb 25, 2025 Introduced in House
Votes
No recorded votes are available for this bill.