Sec. 106. Treasury Attachés Program

313 words·~1 min read·/bill/116/hr/2514/eh/section-106

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Title 31, United States Code, is amended by inserting after section 315 the following: There is established the Treasury Attachés Program, under which the Secretary of the Treasury shall appoint employees of the Department of the Treasury, after nomination by the Director of the Financial Crimes Enforcement Network ( FinCEN ), as a Treasury attaché, who shall— be knowledgeable about the Bank Secrecy Act and anti-money laundering issues; be co-located in a United States embassy; perform outreach with respect to Bank Secrecy Act and anti-money laundering issues; establish and maintain relationships with foreign counterparts, including employees of ministries of finance, central banks, and other relevant official entities; conduct outreach to local and foreign financial institutions and other commercial actors, including— information exchanges through FinCEN and FinCEN programs; and soliciting buy-in and cooperation for the implementation of— United States and multilateral sanctions; and international standards on anti-money laundering and the countering of the financing of terrorism; and perform such other actions as the Secretary determines appropriate.

The number of Treasury attachés appointed under this section at any one time shall be not fewer than six more employees than the number of employees of the Department of the Treasury serving as Treasury attachés on March 1, 2019. Each Treasury attaché appointed under this section and located at a United States embassy shall receive compensation at the higher of— the rate of compensation provided to a Foreign Service officer at a comparable career level serving at the same embassy; or the rate of compensation the Treasury attaché would otherwise have received, absent the application of this subsection.

In this section, the term Bank Secrecy Act has the meaning given that term under section 5312. . The table of contents for chapter 3 of title 31, United States Code, is amended by inserting after the item relating to section 315 the following: 316. Treasury Attachés Program. .