Bill > HR1450

This bill requires the Office of Foreign Assets Control (OFAC) to create a 5-year pilot program that allows private sector firms to obtain licenses for conducting small-scale financial transactions specifically to support their investigative work. Under the program, firms must submit detailed monthly reports to OFAC about their licensed activities. The Director of OFAC must coordinate with the Financial Crimes Enforcement Network (FinCEN) in developing the program and will be required to submit annual reports to congressional committees, including both public reports detailing the number of license requests and grants, and classified briefings providing more in-depth information about the program's operations, applicants, and insights gained. The pilot program will be established within one year of the bill's enactment and will automatically terminate five years after its establishment. The goal appears to be providing a structured, regulated mechanism for private investigators to conduct limited financial transactions that might otherwise be restricted, while maintaining close governmental oversight of these activities.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/1450/all-info