Bill
Bill > HR502
summary
Introduced
01/11/2019
01/11/2019
In Committee
01/11/2019
01/11/2019
Crossed Over
01/29/2019
01/29/2019
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
FIND Trafficking Act FIND Trafficking Act Fight Illicit Networks and Detect Trafficking Act Fight Illicit Networks and Detect Trafficking Act This bill directs the Government Accountability Office (GAO) to report on the use of virtual currencies and online marketplaces in sex and drug trafficking. The GAO must study topics including how illicit proceeds are transferred into the U.S. banking system, state and non-state actors that participate in such activity, preventative efforts from federal and state agencies, and the extent to which the unique characteristics of virtual currencies can contribute to the tracking and prosecution of illicit funding.
AI Summary
This bill directs the Government Accountability Office (GAO) to conduct a study on how virtual currencies and online marketplaces, including the dark web, are used to facilitate sex and drug trafficking, particularly opioids and synthetic opioids. The study will examine how these platforms and payment methods are used to buy, sell, or finance goods and services associated with these illicit activities, how the illicit funds are repatriated into the U.S. banking system, the key participants involved, federal and state efforts to impede these activities, and the potential for virtual currencies to contribute to tracking and prosecuting illicit funding. The GAO must report the study's findings and recommendations to Congress within one year.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (4)
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 01/29/2019)
Official Document
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