S. 3441 · 118th Congress
Terrorist Financing Prevention Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WarnerSponsor3 cosponsors · 1 D, 2 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires specified sanctions on foreign entities that facilitate financial transactions tied to foreign terrorist organizations.
What it does: CRS summary · Introduced in Senate · Dec 7, 2023
Terrorist Financing Prevention Act of 2023
This bill requires specified sanctions on foreign entities that facilitate financial transactions tied to foreign terrorist organizations.
The bill requires the Department of the Treasury to identify any foreign financial institution or foreign digital asset transaction facilitator that (1) has knowingly facilitated a significant financial transaction with a foreign terrorist organization or related person, or (2) has engaged in money laundering to carry out such a transaction.
The President must prohibit, or place restrictions on, opening or maintaining a U.S. correspondent or payable-through account by such an institution. Further, the President must prohibit any transactions between any person subject to the jurisdiction of the United States and a foreign digital asset transaction facilitator identified by Treasury under this bill.
The bill allows Treasury to prohibit or restrict certain fund transmittals if a foreign jurisdiction, institution, account, or transaction is of primary money laundering concern.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Terrorist Financing Prevention Act of 2023
Latest action (Feb 8, 2024): Committee on Banking, Housing, and Urban Affairs. Hearings held.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Dec 7, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.