Bill > HR7156

This bill, the Combating Money Laundering in Cyber Crime Act of 2024, aims to expand the investigative authorities of the United States Secret Service. Specifically, it amends Section 3056(b) of Title 18 of the United States Code to give the Secret Service the authority to investigate violations of Section 1960 (relating to unlicensed money transmitting businesses) and Section 5324 (relating to structuring transactions to evade reporting requirements) of Title 31. The bill also extends the duration of the FinCEN Exchange program, which facilitates information sharing between the Financial Crimes Enforcement Network (FinCEN) and other agencies, from 5 years to 10 years. Additionally, the bill amends the National Defense Authorization Act for Fiscal Year 2020 to increase the number of international financial institutions that can be designated for certain purposes from 6 to 10.